Stavanger, 16 August 2010: Norwegian Energy Company ASA (Noreco - OSE:NOR) Noreco today announced an internal change in the top management.

 

Rune Martinsen who today holds the position as Chief Operating Officer will enter the position as Vice President Strategy & Investor Relations while Einar Gjelsvik who today holds this position will take over as Chief Operating Officer.

 

The change will have effect from 1 September 2010.

- I am very pleased to see members of the Senior Management team taking on new important responsibilities as a step towards building an even stronger and more integrated management team for Noreco. Through the announced change in top management, we will ensure further development of each of these key business areas, a stronger basis for replacement planning, and an ambitious plan for further development of our senior managers, says Scott Kerr, CEO of Noreco.

Contacts:
Scott Kerr, CEO, +47 992 83 890
Kjetil Bakken, Investor Relations Manager, +47 91 889 889

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