Åsmund Skår steps down as head of Retail Banking in DnB NOR

Group executive vice president Åsmund Skår (49) will step down as head of
Retail Banking in DnB NOR to take over the position as head of the bank's
Houston office. Jarle Mortensen, current head of Postbanken, will serve as
acting head of Retail Banking with effect from 15 February 2009. 
 
As part of DnB NOR's international initiatives in the energy sector, DnB NOR
established banking operations in Houston in 2006. Since then, the office has
shown strong financial performance and possesses extensive expertise within oil
and gas-related operations. 
 
"I have long wanted to live and work abroad and am looking forward to starting
a new job within a priority area for DnB NOR," says Åsmund Skår. 
 
"Åsmund Skår has had a significant influence on the Retail Banking business
area in DnB NOR for a number of years. I would like to thank him for his great
commitment and important contributions and am pleased that he has chosen to
remain in the Group," says group chief executive Rune Bjerke. 
 
Åsmund Skår has been head of Retail Banking in DnB NOR since the merger in
2003. He was previously group director for retail operations in Gjensidige NOR
and has held various other executive positions in the Group. Skår has also been
employed by Statoil and Skaarfish Group. He is a graduate of the Norwegian
School of Economics and Business Administration. 
 
 
Facts:
 
DnB NOR in Houston
As part of DnB NOR's international expansion in the energy sector, the Group
established banking operations in Houston in 2006. The office has built up
extensive expertise, which makes it a natural partner for companies within oil
and gas-related operations. The office currently has ten employees. 
 
Retail Banking
Retail Banking in DnB NOR is Norway's leading retail bank, with strong brands
such as DnB NOR and Postbanken. Retail Banking has more than 2 million
customers, Norway's most extensive distribution network and the largest real
estate broking operation in the Nordic region. The bank's Internet bank has
been named the most user-friendly in Norway, and mobile phones represent DnB
NOR's most rapidly growing distribution channel.