DnB NOR: Share capital increase registered

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG Reference is made to the stock exchange notice published by DnB NOR ASA on 14 December 2009. The share capital increase pertaining to the rights issue resolved by the general meeting of DnB NOR ASA on 19 November 2009 has now been registered with the Norwegian Register of Business Enterprises and the rights issue has hence been completed. The new share capital of DnB NOR ASA is NOK 16,287,988,610 divided into 1,628,798,861 shares, each with a nominal value of NOK 10. The new shares issued in the rights issue will be tradeable on the Oslo Stock Exchange from and including 21 December 2009. The new shares have been transferred to the VPS accounts of the subscribers to whom they have been allocated, provided that the relevant subscribers paid their entire subscription amounts on the payment date (17 December 2009). DnB NOR ASA has engaged Morgan Stanley & Co. International plc., DnB NOR Markets and Citigroup Global Markets Limited as Joint Global Coordinators and Joint Bookrunners in the rights issue. For further information, please contact: Bjørn Erik Næss, CFO, tel. +47 415 05 201, e-mail bjorn.erik.naess@dnbnor.no Per Sagbakken, EVP, Investor Relations, tel. +47 906 61 159, e-mail per.sagbakken@dnbnor.no Trond Bentestuen, group EVP, Corporate Communications, tel. +47 950 28 448, e-mail trond.bentestuen@dnbnor.no _ _ _ _ Disclaimer These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Australia, Singapore, South Africa, Switzerland, Japan or Hong Kong. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States. The purchase of DnB NOR ASA shares is subject to specific legal or regulatory restrictions in certain jurisdictions. DnB NOR ASA assumes no responsibility in the event there is a violation by any person of such restrictions. This announcement is an advertisement. It is not a prospectus, disclosure document or offering document and does not purport to be complete. Nothing in this announcement should be interpreted as a term or condition of the rights issue. Investors should not purchase, otherwise acquire, sell or otherwise dispose of DnB NOR ASA shares except on the basis of information in the prospectus dated 23 November 2009 (the “Prospectus”) which contains further information relating to the company as well as a summary of the risk factors to which any investment is subject. The Prospectus is available on the rights issue website at www.dnbnor.com. This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire, any securities offered by any person in any jurisdiction in which such an offer or solicitation is unlawful. This document has not been approved by any regulatory authority. This document is an advertisement and not a prospectus and investors should not purchase any securities referred to in this document except on the basis of information provided in the Prospectus. The distribution of this announcement and/or the Prospectus into jurisdictions other than Norway may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Morgan Stanley & Co. International plc., DnB NOR Markets and Citigroup Global Markets Limited are acting for DnB NOR ASA and no one else in connection with the rights issue and will not be responsible to anyone other than DnB NOR ASA for providing the protections afforded to their respective clients or for providing advice in relation to the rights issue and/or any other matter referred to in this document. This information is subject to the disclosure requirements according to Section 5-12 of the Securities Trading Act.

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