Share buy-back

Norsk Hydro ASA on November 2 repurchased 260,000 of the company’s shares through a stock broker at NOK 376 per share.

The shares were bought under a decision by the company’s general assembly on April 26, 2000, which gave the company the authority to repurchase up to 5 million shares within an 18-month period.

This is the first repurchase within this framework, and gives total holdings of company shares of 4,908,031.

Because of the Norwegian government’s proposed changes to tax on dividend payments, Hydro has, in order to protect private Norwegian shareholders, instructed the broker to buy shares from shareholders who are not affected by that part of the proposal that would halve the RISK amount in connection with tax on gain from sales of shares.