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Acclaimed for financial data

August 29, 2003, 10:10 CEST

Norway’s Stockman Prize for 2003 has been awarded to Statoil as the listed company which provided the best information to the financial market over the preceding year.

Presented by the Norwegian Society of Financial Analysts, the award is based on 15 criteria - including communication, presentations, annual report and financial reporting.

Among others are the ability to convey strategy, the quality of management and corporate governance, equal opportunities, openness, credibility, consistency and accessibility.

The overall assessment of Statoil’s commitment was particularly encouraging, suggesting that the group has won a high degree of trust in the market since its 2001 listing.

Securing an external award of this kind also provides good motivation in-house, says Mari Thjømøe, vice president for investor relations in Statoil.

“The prize represents a recognition that we have opted to take an active role, and set high standards for ourselves in keeping the market well informed.

“It also reflects a high professional standard and good quality in financial reporting, both centrally and in our business areas.”

She adds that Statoil’s active communications profile has been an important source of support in building up its position in the market.

“We’re very gratified at receiving this recognition in only our second year as a listed company.”

The prize will be presented at a seminar being staged by the financial analyst society in Oslo on 3 September.