COPEINCA EMPLOYEE STOCK OPTION PROGRAM

Reference is made to the announcement from Copeinca ASA dated 30, Jan 2008,
regarding Copeinca ASA´s Employee Stock Option Program.

According to the authorization given to the board by the extraordinary general
meeting held on May 7, 2008, the board of Copeinca ASA was authorized to
increase the share capital by up to NOK 4,650,000 through the issue of up to
930,000 shares.

On January 11, 2010 the board of Copeinca ASA approved the distribution of the
remaining stock options.

1) 370,000 share options will be issued to nine key management employees
as detailed in Schedule II
2) The strike price of the share options will be 45NOK.
3) The options will vest over the next three years (subject to termination
of employment) at a rate of 33.3% per year to each employee.
4) A maximum price (CAP) per share has been established at 120 NOK, if the
price of the shares at the time the options are exercised, exceeds 120 NOK, the
strike price will be adjusted upwards, so that the difference between the market
price and the strike price (the value of each option) is not greater than 80
NOKS.


Schedule II:

The following key management employees have been awarded the following number of
options (new holding of options in parenthesis)




CEO Samuel Dyer Coriat 130,000 options (350,000)

Deputy CEO Pablo Trapunsky 45,000 options (145,000)

CFO Eduardo Castro-Mendivil 35,000 options (135,000)

Fleet Manager Reserved 70,000 options (70,000)

Production Manager Douglas Bucchelli 30,000 options (70,000)

CSO Mercedes Tang Tang 20,000 options (60,000)

Legal Giuliana Cavassa 10,000 options (30,000)

HR Manager Nathalie Mas 20,000 options (40,000)

Logistics Manager Clemencia Barreto 10,000 options (30,000)

Total 370,000 options (930,000)


For further information, please contact:
CEO Samuel Dyer, sdyerc@copeinca.com.pe
CFO Eduardo Castro-Mendivil, ecastromendi@copeinca.com.pe

Tel. (511) 213-4000


Source