Implementation effects of the transition to international accounting rules:
From 1 January 2005 all groups in the EU (including the EEA countries) listed on the stock exchange must present their quarterly and annual accounts according to international accounting standards (the IAS/IFRS regulations). Sparebank 1 SR-Bank, which is a listed group, will present its accounts for the first quarter of 2005 on 28 April 2005 according to the new regulations now in force. The draft for the opening balance sheet for 2004 and 2005 has been reworked on the basis of our present understanding of the IFRS regulations. The opening balance sheet has not been audited.