HYBRID TIER 1 SECURITIES

The Board of Directors of DnB NOR Bank ASA has proposed that the General Meeting in DnB NOR Bank ASA resolve to give DnB NOR`s group chief executive, Rune Bjerke, deputy CEO Tom Grøndahl and executive vice president Per Sagbakken individual authorisations to issue hybrid Tier 1 securities on behalf of DnB NOR Bank ASA for a total of up to EUR 650 million or the approximate equivalent amount in another currency. An Extraordinary General Meeting will be held in DnB NOR Bank ASA on 16 January 2007.

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DNB is Norway's largest financial services group and offers financial products and services, including loans and deposits, mutual funds and asset management, life insurance and pension savings, payment and financing services, real estate broking and services related to the money and capital markets.

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