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Notifiable trading 

May 16, 2006, 15:45 CEST

On behalf of Statoil (OSE:STL, NYSE:STO), DnB NOR has on 15 May 2006 purchased 113,000 shares for use in the group’s share saving plan. The shares have been acquired at a price of NOK 180.89 per share. Before distribution to the employees, the share saving plan has 1,029,678 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 16 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. the Public Limited Companies Act § 12-6.