StatoilHydro – plan for completion of the merger 

September 28, 2007, 10:34 CEST

In light of this, the following is announced:

The completion of the merger is expected to take place before the opening of the markets in Oslo on Monday 1 October. As a result, this will be the first day of trading in the StatoilHydro share. Consequently, Friday 28 September will be the last day that the Norsk Hydro ASA shares will trade inclusive of the right to receive Statoil shares.

Each Norsk Hydro ASA shareholder will receive Statoil shares based on their shareholder holdings registered at the Norwegian Central Securities Depository (VPS) on 3 October 2007, that is, reflecting trading undertaken on 28 September with settlement on a T+3 basis.

One share in Norsk Hydro ASA entitles the shareholder to 0.8622 shares in StatoilHydro ASA. Fractions of shares will not be issued. Fractional shares will be aggregated into whole shares and sold in the market. The net proceeds, i.e. the selling price after deduction of accrued costs in connection with the transaction, will be distributed proportionally between those shareholders entitled to fractions.

The consideration shares will be delivered to Hydro’s shareholders via the VPS on 3 October 2007 and will be available in investors’ accounts on 4 October 2007. Any relevant cash proceeds for fractions of shares are expected to be paid on 11 October 2007.

After the completion of the merger, the company’s name will change to StatoilHydro ASA. New share capital will be NOK 7,971,617,757.50 comprising 3,188,647,103 shares with a nominal value of NOK 2.50 each.

The STL ticker code and ISIN number NO0010096985 remain unchanged.

A new stock exchange announcement will be published on 1 October 2007.

Further information from:

Investor relations
Lars Troen Sørensen, senior vice president for investor relations, + 47 90 64 91 44 (mobile), +47 51 99 77 90 (office)

Geir Bjørnstad, vice president for investor relations in USA: +1 (203) 978 69 50 (mobile)

Ola Morten Aanestad, vice president for media relations, +47 48 08 02 12 (mobile) +47 51 99 13 77 (office)