Parrot S.A. has withdrawn the legal proceeding against

Stock exchange release

Free for publication on September 22, 2014 at 5.15 p.m. (CEST+1)

Parrot  S.A.  has  withdrawn  the  legal  proceeding against e.solutions GmbH, a
jointly owned company of Elektrobit Corporation (EB) and AUDI

Elektrobit  Corporation  (EB)  has  received  information  that  Parrot  S.A., a
supplier  of  e.solutions  GmbH,  a  jointly  owned  company of EB and AUDI, has
withdrawn the legal proceeding taken against e.solutions GmbH in the Tribunal de
Commerce  de Paris (Commercial  Court Paris) on  April 2014. In the claim Parrot
S.A.  requested  to  collect  damages  in  the amount of approximately EUR 18.4
million  for loss  of profit  and reputational  damage. According to e.solutions
GmbH's  initial legal  analysis as  announced in  EB's stock exchange release on
April  4, 2014, the claim was without merit both in terms of the grounds and the
amount of the claim.

Neither  the  legal  action  nor  the  withdrawal  will cause any such financial
consequence  that would affect EB's profit outlook or financial position. EB has
no information on Parrot S.A.'s possible plans to initiate further legal actions
in another forum.

e.solutions  GmbH  is  a  jointly  owned  company of EB's subsidiary, Elektrobit
Automotive  GmbH, and AUDI AG's subsidiary, Audi Electronics Venture GmbH (AEV),
and   is   currently  developing  infotainment  software  and  provides  systems
engineering and systems integration services for Volkswagen Group car models. EB
owns 51% of e.solutions GmbH and AEV 49%.

Oulu, September 22, 2014

Elektrobit Corporation
Jukka Harju
CEO


Further information:

Jukka Harju
CEO
Tel. + 358 40 344 5466

Kari Jokela
Chief Legal Officer
Tel. + 358 40 344 5258


Distribution:
NASDAQ OMX Helsinki
Principal media

Elektrobit Corporation (EB)
EB creates advanced technology and turns it into enriching end-user experiences.
EB  is specialized  in demanding  embedded software  and hardware  solutions for
wireless  and automotive  industries. The  net sales  in 2013 totaled EUR 199.3
million  and  operating  profit  was  EUR 8.1 million. Elektrobit Corporation is
listed on NASDAQ OMX Helsinki. www.elektrobit.com

[HUG#1857481]
Parrot S.A. has withdrawn the legal proceeding against e.solutions GmbH, a jointly owned company of Elektrobit Corporation (EB) and AUDI
