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AGM in Statoil 

May 9, 2003, 09:35 CEST

The annual general meeting (AGM) in Statoil ASA resolved on 8 May 2003 to adopt the annual report and accounts for 2002 as proposed by the board of directors.

The proposal for the allocation of net income, including distribution of a dividend of NOK 2.90 per share to persons who were shareholders on 8 May 2003 was also resolved, with payments starting on 23 May 2003.

Statoil’s ordinary shares listed on the Oslo Stock Exchange will be quoted ex dividend as of 9 May 2003. American Depository Shares (ADS) listed on the New York Stock Exchange were quoted ex dividend on 6 May 2003.

The proposal to amend the marketing instructions for Statoil ASA was considered and passed.

See minutes of meeting and attachment.

Contact persons :

Public affairs – 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)