Storebrand's banks are merging

Merger between Storebrand Bank AS
and Finansbanken ASA

The name of the merged bank is Storebrand Bank ASA. The bank has total assets of NOK 28.5 billion.

The merger is effective from 17th of March 2003, with accounting effect from 1st of January 2003. The bank will be situated in Storebrand's head office building at Filipstad Brygge from 28th of April.
Storebrand Bank ASA will build its operations on the competencies, customers, products and services of the two banks. The bank will develop, produce, and market on financial solutions to the Norwegian retail market and to corporate customers of the Storebrand Group.
Finansbanken will be kept as a brand name and will continue to represent the service and product offering towards selected corporate customers and high net worth individuals in the Oslo region.

Contacts: <br> <br> Managing Director Per Kumle, <br> Tel. +47 22 47 40 91 <br> Group Finance Director Lars Aa. Løddesøl, Tel. +47 22 31 56 24 <br>