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Notifiable trading 

July 17, 2006, 09:00 CEST

On behalf of Statoil (OSE:STL, NYSE:STO), DnB NOR has on 14 July 2006 purchased 111,000 shares for use in the group’s share saving plan. The shares have been acquired at a price of NOK 187,68 per share. Before distribution to the employees, the share saving plan has 1,106,336 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 June 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 expiration date for objections from the creditors, cf Public Limited Companies Act § 12-6.