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Winner of the Stockman prize for 2004

September 9, 2004, 01:30 CEST

Hydro was today awarded the Stockman prize for 2004. The prize is awarded by the Norwegian Society of Financial Analysts to the listed company that has provided the best information to the finance market and has published the best annual report.

Hydro won the prize this year in the open class, which included all companies listed in Norway. In their assessment of the companies, the analysts highlight the quality of the annual report, interim reports, other publications, presentations and Investor Relations work, amongst other things.

"We are delighted to receive this recognition, which clearly demonstrates that our work on communication to the finance markets is appreciated. Working with finance information is typically a team effort, where quality depends on good interaction between many parts of the company," says Idar Eikrem, senior vice president, Investor Relations.

The ceremony at Grand Hotel in Oslo on Thursday at which Hydro's executive vice president John Ove Ottestad received the Stockman prize, marks the third time Hydro has been awarded this prize. The company also won this recognition in 1992 and 1995.

"Our information work to the finance market is characterized by thorough effort over a long period of time. Winning this prize will inspire us to continue the thorough preparatory work, which is carried out by the accounting and reporting sector and the IR department, in addition to communication work carried out elsewhere in the organization," says Eikrem.

He underlines that good IR depends on relevant and high quality information being submitted at the right time:

"We place great importance on understanding what information analysts and investors need, ensuring that this is communicated to the top management of the company and taken into consideration in the on-going communications work with the finance market.

"One of the major challenges is to follow developments and ensure that we strive at all times to find further improvements to our reporting and communications work. The 2004 Stockman prize is a recognition of this team work and is therefore to be shared with a great many people in Hydro," says Eikrem.