Sales of shares to employees

July 4, 2001, 01:00 CEST
In connection with sales of shares to employees of Norsk Hydro ASA approximately 72 percent of the employees entitled to the offer have subscribed,
In connection with sale of shares to employees of Norsk Hydro ASA, under a general arrangement offered to employees in Norway, approximately 72 percent of the employees entitled to the offer have subscribed, and been allocated 30 shares each at 196.90 NOK per share. Employees who are a part of the company's option-scheme (30 people) have been offered 19 shares at the price 315.04 NOK. The terms are according to Hydro's stock-purchase plan for employees in Norway. Norsk Hydro holds 9,222,223 own shares after this transaction.

The following have under the above mentioned scheme each aquired 19 shares:

President and CEO Eivind Reiten, new holding is 1,258 shares
Executive Vice President Leiv L. Nergaard, new holding is 12,668 shares
Executive Vice President Tore Torvund, new holding is 197 shares
Executive Vice President Thorleif Enger new holding is 15,809 shares (previously reported number was 1,969 shares too many)
Executive Vice President Jon-Harald Nilsen, new holding is 187 shares

The following have under the above mentioned scheme each bought 30 shares:

Employee representative to the board of directors Gudmund Per Olsen, new holding is 762 shares
Employee representative to the board of directors Per Wold, new holding is 829 shares
Employee representative to the board of directors Odd Semstrøm, new holding is 46 shares
Closely related to Executive Vice President Tore Torvund, Tone Steinseth, new holding is 277 shares