Finanshuset Acta reorganizes

Finanshuset Acta conducts a restructuring of the organization in order to maintain the clients’ interests. This will lay the foundation for a healthy, profitable and qualitatively strong business.

Oslo, February 7 2012: The subsidiary company Acta Asset Management AS was, as previously reported in the media, inspected by the Financial Supervisory Authority of Norway last year. There has been extensive dialogue between two parties. The Financial Supervisory Authority has now sent a notice of possible withdrawal of Acta Asset Management’s license to conduct the current business.

The Board of Acta Asset Management understands part of the criticism from the Financial Supervisory Authority and takes it very seriously. The Board disagrees, however, on certain points of the Authority’s interpretation of facts. This will be addressed in a letter of reply within the deadline on February 24 2012.

The Acta group has for some time considered a strategic reorganization which will also affect the license-dependent business of Acta Asset Management AS and therefore chooses to close this down.

The clients’ investments and reports will remain unaffected by the ongoing process.

It is a challenge to provide individual financial advisory services towards clients with limited financial funds for investments in today’s regulatory and business climate. The reorganizing therefore implies an increased focus on personal advisory services for larger clients, something which will make it easier to run the business in line with our and the external stakeholders’ high quality standards.

At the same time, we will support our present clients in a good way, among other things by establishing a new investment center. New and easier concepts will be established to support all clients, even the smaller ones, in an even more effective and professional manner.

The new undertaking will be organized in one company in Norway, the current subsidiary company Acta Markets AS. This is a solid and profitable company which represents a good foundation for this undertaking. The company will be built through external and group-internal recruitment.

The proposed solution will in Acta’s opinion support the interest of all clients. All clients will be contacted and offered to enter into a contract with Acta Markets AS, and the Financial Supervisory Authority is informed about this.

The Swedish business, which is organized in Acta Finans AB, will also work with Acta Markets AS.

Strategic alternatives for strengthening the increased focus on bigger clients and new parts of the value chain even further are under consideration.

Given today’s challenging market conditions and the above mentioned changes of strategy, the group will reduce its cost by approximately NOK 120 million. This will be done through a number of measures, and will unfortunately imply a certain number of redundancies.

This will lay the foundations for a healthy, profitable and qualitatively strong enterprise, for the benefit of Acta’s clients, employees and shareholders.

More information about the plans will be given at the 2011 annual results presentation which has been moved to February 29.

Contacts:

Alfred Ydstebø, Chairman of the Board of Acta Holding ASA, mobile phone +47 908 32 828.

Mirja Herrdin, Chief Communications Officer, mobiltelefon +47 948 82 370