DNBNOR - 1ST QUARTER 2006

Pre-tax operating profits of NOK 3.7 billion (2.7) in first quarter DnB NOR achieved the highest quarterly profits thus far in the history of the Group for the first three months of 2006. Total income increased by 19.4 per cent. · Pre-tax operating profits rose 37 per cent to NOK 3 743 million (NOK 2 728 million in the first quarter of 2005) · Profits rose 39 per cent to NOK 2 849 million (2 046) Attachment on www.newsweb.no DnB NOR achieved the highest quarterly profits thus far in the history of the Group for the first three months of 2006. Total income increased by 19.4 per cent. · Pre-tax operating profits rose 37 per cent to NOK 3 743 million (NOK 2 728 million in the first quarter of 2005) · Profits rose 39 per cent to NOK 2 849 million (2 046) · Ordinary expenses were scaled back to 48.2 per cent (52.6) of income · Return on equity was 19.2 per cent (15.8) · Earnings per share were NOK 2.11 (1.54) Comments by group chief executive Svein Aaser: `The quarterly figures reflect sound growth in both domestic and international operations. I would like to thank all DnB NOR employees for their joint efforts in achieving good results throughout the Group. I am pleased to note that we have recently completed Norway`s most extensive and possibly most complicated IT integration process and that 97 per cent of the planned cost synergies in connection with the DnB NOR merger have now been realised.` `The expansion in volumes both in Norway and abroad reflects a high level of activity in the corporate and retail markets. The most pronounced increase is taking place in the shipping and offshore sectors, where our international operations are now on a level with our domestic business volumes. I am also delighted by the high revenues achieved by DnB NOR Markets, the sound growth in premium income in Vital, Norway`s largest life insurance company, and the strong sales of the new asset management products under the Save Smart concept.` `The first results from our new international initiatives are promising. Our operations in Sweden, which has already been defined as our home market, are developing well. We are experiencing significant growth in the Baltic region and Poland through our subsidiary DnB NORD, which now has 127 branch offices and 550 000 customers, and in North-West Russia, Monchebank is about to become part of the Group. In other words, DnB NOR has never before been able to serve its customers in such a large market as it can today,` says group chief executive Svein Aaser. The quarterly report including tables can be downloaded from www.dnbnor.com Press release, first quarter report, presentation and Supplementary Information for Investors and Analysts can be found on www.newsweb.no