HNA/HNB Changes to the group management of Hafslund ASA

Tore Schiøtz (49) enters from 1 November the Group Management of Hafslund ASA as Executive Vice President Venture. Tore Schiøtz maintains his previous position as CEO of Hafslund Venture AS.
 
Tore Schiøtz has managed Hafslund Venture since 2001 and has had a central role in the development of Hafslund's ownership in Renewable Energy Corporation ASA. Schiøtz has long experience from Storebrand Spar (mutual fund), last as investment director, and as a consultant with Arthur Andersen. He has a degree in Business Administration and is a Certified Financial Analyst. Tore Schiøtz is the Chairman of the Board of Renewable Energy Corporation ASA and has a number of board appointments of Hafslund Venture's portfolio companies. Schiøtz and parties closely related to him own 5,200 Hafslund A-shares and 256 Hafslund B-shares.
 
The business area Venture comprise Hafslund Venture which represents the Group's investment operations and tool for developing new business opportunities associated with the Group's core business activities.
 
Hafslund ASA
 
Oslo, 1 November 2006

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