LEUVEN, Belgium – January 31, 2011 – Option (Euronext: OPTI; OTC: OPNVY), the wireless technology company, today announced that it has extended its software license agreement with Huawei and has received a payment of EUR 11 million. This extension comes as part of the cooperation agreement signed with Huawei in October 2010 where Huawei agreed to license Option’s uCAN Connection Management software, for which the first year of the license was valued at EUR 27 million. The agreement also included the potential for extensions of the license for an amount of up to EUR 33 million over the next 18 months. This transaction, triggered by having reached mutually agreed contractual milestones, is the first of the potential extensions.