Merger to be implemented on 1 October

September 18, 2007, 01:55 CEST

The merger between Statoil and Hydro's oil and gas activities is expected to be implemented before the markets open on Monday 1 October.

Norsk Hydro ASA will then demerge its oil and gas activities which will subsequently be merged with Statoil ASA. From this point, the company name will be StatoilHydro ASA.

Current Statoil ASA shareholders will automatically retain the same number of shares in StatoilHydro ASA and need not take any steps.

Following the merger, StatoilHydro will have a share capital of NOK 7,971,617,757.50 comprising 3,188,647,103 issued shares each with a nominal value of NOK 2.50. When the merger takes place, StatoilHydro is expected to have a holding of 1,850,583 own shares for use in the company's share saving plan and the number of outstanding shares will be 3,186,796,250.

Ticker codes on the Oslo stock exchange (Oslo Børs - STL) and the New York Stock Exchange (STO) will be carried forward in the merged company.

Statoil's service stations will retain their present name and logo.