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President and CEO compensation

July 1, 2004, 10:30 CEST

The Board of Directors decided in June to increase the base salary of the President and CEO Eivind Reiten by 3 percent to NOK 4.33 million effective for 2004. No changes to the CEO salary were made in 2003.

President and CEO Eivind Reiten will receive a performance reward bonus of NOK 1.19 million for 2003. The amount is in accordance with his bonus plan and the performance-related target setting established earlier.

Contact person: Kristin Brobakke
Phone: +47 22 53 27 44
Mobile: +47 918 40 681