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Discussions between Statoil and Hydro terminated 

February 10, 2004, 12:10 CET

Discussions on a closer strategic cooperation between Statoil ASA (OSE: STL, NYSE: STO) and Hydro have been discontinued.

Statoil ASA confirms that for a short period of time, talks have been held at top management level to explore the possibilities for closer collaboration between the two companies.

The talks are now finished.

Jannik Lindbæk, chair of Statoil, will brief the press at Statoil's head office in Stavanger at 13.00 today.

Contact persons:

Wenche Skorge, vice president public affairs, +47 91 87 07 41 (mobile) / +47 51 99 79 17 (office)

Mari Thjømøe, vice president investor relations, +47 90 77 78 24 (mobile), +47 51 99 77 90 (office)

Thore Kristiansen, investor relations, +47 91 66 46 59 (mobile)