NONG -Estimation of value of shareholding bring about income NOK 189 mill entered as 1st quarter income

SNN Invest, a subsiduary of SpareBank 1 Nord-Norges, has an ownership of 46.7 % in the oil company Front Exploration AS (FrontX).  FrontX is executing a private placement directed towards the new owner DONG Energy Power A/S.  In this connection, an estimation of value of FrontX has been made.  This implies that NOK 189 mill will be entered as unrealised income in the 1 st quarter result of SNN Invest (and SpareBank 1 Nord-Norge Group).

Contact person at SpareBank 1 Nord-Norge:
Dept. CEO Oddmund Åsen; mob +47 906 72757
Legal officer Petter Høiseth; mob +47 41 50 50 35

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

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SpareBank 1 Nord-Norge is a leading provider of financial products and services in North-Norway. In addition to loans, deposits and payment transmission services, this also comprises most other savings products, as well as life- and non-life insurance products. Services and products are made available either by the bank and its subsidiaries, or through SpareBank 1 Gruppen AS's product companies.