AGM held in Statoil 

May 12, 2005, 09:40 CEST

The annual general meeting of Statoil ASA (OSE: STL, NYSE: STO) resolved on 11 May 2005 to adopt the annual report and accounts for 2004 as proposed by the board of directors.

The proposal for the allocation of net income, including the distribution of a total dividend of NOK 5.30 per share, of which NOK 2.10 was an extraordinary payment, to those who were shareholders at 11 May 2005, was also approved. Payment will be made from 31 May.

Statoil’s ordinary shares listed on the Oslo Stock Exchange will be quoted ex-dividend from 12 May. American Depository Shares (ADSs) listed on the New York Stock Exchange were quoted ex-dividend from 9 May.

The AGM authorised the acquisition of the company’s own shares to be used in the share investment plan for employees, as proposed by the board.

See the full minutes and attachment of the AGM.

Further information from:

Public affairs: Kjersti Tvedt Morstøl, public affairs manager, tel: +47 51 99 26 71 (office), +47 91 78 28 14 (mobile)

Investor relations: Mari Thjømøe, senior vice president, tel: +47 51 99 77 90 (office), +47 90 77 78 24 (mobile)