Noreco contemplates bond issue

Stavanger, 15 November 2010: Norwegian Energy Company ASA (Noreco, OSE:NOR) is contemplating to issue a new senior unsecured bond in the Norwegian bond market with maturity date in December 2013.

The purpose of the bond issue is to secure refinancing of the existing bond issue ALXO02 and for general corporate purposes.

Pareto Securities, DnB NOR Markets, First Securities and SEB Merchant Banking will be arrangers of the new contemplated bond issue.

For further information, please contact:
Jan Nagell, Chief Financial Officer (+47 99 49 72 71)
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)

Contact details for the arrangers:
Pareto Securities: Inge Edvardsen (+47 22 87 87 71)
DnB NOR Markets: Nils-Jørgen Fimland (+47 22 01 77 46)
First Securities: Wilhelm Koren (+47 23 11 62 66)
SEB Merchant Banking: Thorodd Bakken (+47 22 82 72 58) 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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