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AGM in Statoil 

May 7, 2002, 20:40 CEST

The annual general meeting (AGM) in Statoil ASA resolved today, 7 May 2002, to adopt the annual report and accounts for 2001 as proposed by the board of directors.

The proposal for the allocation of net income, including distribution of a dividend of NOK 2.85 per share to persons who were shareholders on 7 May 2002 was also resolved, with payments starting on 28 May 2002.

Statoil’s ordinary shares listed on the Oslo Stock Exchange will be quoted ex dividend as of 8 May 2002. American Depository Shares (ADS) listed on the New York Stock Exchange were quoted ex dividend on 3 May 2002.

The following persons were elected as new members of the corporate assembly: Kjell Bjørndalen, Kirsti Høegh Bjørneset, Erlend Grimstad, Gunnar Mathisen, Wenche Meldahl, Anita Roarsen, Asbjørn Rolstadås and Anne Cathrine Slungård.

Greger Mannsverk, Anne Britt Norø and Halvor Stenstadvold were elected as deputy members.

The proposal to amend the company’s articles of association § 11, on the establishment of an election committee, was considered and passed.

Jens Ulltveit-Moe and Ole Anders Lindseth were elected as members of the election committee by the AGM.

The AGM gave the company permission to distribute bonus shares to Statoil employees outside Norway in connection with the share offer made to these employees after the company’s flotation.

Contact persons :

Media relations – Wenche Skorge, tel +47 51 99 79 17(office) +47 918 70 741 (mobile)

Investor relations – Mari Thjømøe, tel +47 51 99 77 90 (office) +47 907 77 824 (mobile)

Investor relations USA – Thore Kristiansen, tel +1 203 9786950 (office) +47 916 64 659 (mobile)