Gjensidige Bank ASA: Standard & Poor's-rating raised to A-

Standard & Poor's has raised the rating of Gjensidige Bank and the subsidiary Gjensidige Bank Boligkreditt from BBB+ to A-.

The short-term rating was confirmed as A-2.
The outlook was confirmed as Negative.
This information is subject to disclosure under the Norwegian SecuritiesAct section §5-12.

Head of Treasury, Tor Egil Nedrebø,  47 40 62 53 67

Gjensidige is a leading Nordic insurance group built by customers, for customers. The Group has been listed on the Oslo Stock Exchange since 2010. For nearly 200 years, we have worked passionately to secure the lives, health and assets of our customers. We have about 3,100 employees and offer insurance products in Norway, Denmark, Sweden and the Baltic states. In Norway, we also offer banking, pension and savings. Gjensidige Bank, which is a wholly-owned subsidiary of Gjensidige Forsikring ASA, offers electronic distribution of day-to-day banking services and consumer financing. The Group’s operating income was NOK 19.5 billion in 2011, while total assets was NOK 94.2 billion.