Share Capital Increase

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Stavanger, 22 January 2009: Norwegian Energy Company ASA (OSE:NOR)
 
The share capital increase in Noreco announced 2 January 2009 has been registered in the Norwegian Registry of Business Enterprises.
 
Noreco`s share capital is NOK 445,993,704.70 divided on 143,868,937 shares, each with a nominal value of NOK 3.10. Noreco's Articles of Association have been amended accordingly.
 
Please find attached the updated company certificate.
 
For further information, please contact:
 
Scott Kerr, CEO (+47 992 83 890)
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)

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