Under the authorization, the Board may buy up to 15,972,130 of the company's own shares (5%) in the market, over the 18 months period commencing 16 June 2004. Shares may be purchased within a price range of NOK 25 to NOK 75. It is the discretion of the Board to decide for which purpose shares acquired pursuant to this proxy may be used. If the Board decides that shares acquired pursuant to this authorization shall be used for capital reduction by cancellation of shares, it is a precondition for the Board that an agreement is entered into with the Norwegian State securing that the State's ownership (presently 36.21%) is not affected as a result of the buy back program.
Contact
Egil Hogna, Investor Relations Arne Cartridge, Media Relations
Telephone (+47) 24 15 71 66 (+47) 24 15 73 01
Cellular (+47) 90 187 865 (+47) 47 900 900
The press release and protocol can be downloaded from the following link:
