Eltek ASA: Approved Financial Statements and Annual Report 2011

The Board of Directors of Eltek ASA has approved the financial statements for 2011. No changes were made to the financial statements compared to those previously presented, reference made to the preliminary and unaudited results for the fourth quarter and full year 2011 reported on 16 February 2012.

Eltek ASAs Annual Report for 2011 will be available only in English, in accordance with dispensation given by The Norwegian Directorate of Taxes. Please find the Annual Report 2011 enclosed.

The Annual General Meeting is scheduled for 15 May 2012.

For further information, please contact:

Eltek ASA, CFO Pål Skistad, tel: +47 908 50 378

About Eltek ASA:

Eltek is a strategic technology partner within power solutions. The Company reported revenue of NOK 3.6 billion in 2011, and has close to 2,900 employees in close to 40 countries.  Following the proposed divestment of Nera Telecommunications, Eltek focuses on its core business in telecom power and power electronics solutions for industrial applications and renewable markets such as solar power and electric vehicles. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen, Norway.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.