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Statoil’s share saving plan allocates shares 

May 19, 2006, 11:50 CEST

The shares purchased by DnB NOR on behalf of Statoil (OSE:STL, NYSE:STO) on 15 May 2006 for use in the group’s share saving plan have on 19 May 2006 been distributed to the employees in accordance with their savings amount. Following this, the share saving plan has 953,263 shares.

When Statoil was listed in 2001, 25 million shares were established for use in a bonus programme aimed at small shareholders. The number of unused shares remaining as of 19 May 2006 is 23,441,885. These shares are recorded in the share register as Statoil's own shares. The annual general meeting in Statoil decided on 10 May 2006 to annul these shares through a capital reduction.

The capital reduction can come into force after the closing date for objections from the creditors, cf. Public Limited Companies Act § 12-6.