DNBNOR - DNB NOR DECIDES ON PREMISES FOR BRANCH OFFICES

DnB NOR has now selected the premises for its future branch http://www.newsweb.no/index.asp?melding_ID=91697 offices. The coordination of the branches will start in September 2004 and be completed in the summer of 2005. As stipulated by the Norwegian Competition Authority, 53 premises currently used as branch offices will be placed on the open market for sale or rent within 1 January 2006. DnB NOR has now selected the premises for its future branch offices. The coordination of the branches will start in September 2004 and be completed in the summer of 2005. As stipulated by the Norwegian Competition Authority, 53 premises currently used as branch offices will be placed on the open market for sale or rent within 1 January 2006. The new local bank DnB NOR Bank`s future branches will offer customers a full range of banking services, including financing as well as investment advisory services provided by a highly competent staff. By the summer of 2005, all DnB NOR branch offices will appear in new design. `DnB NOR aims to be the entire country`s local bank, offering a full range of products from the DnB NOR Group. Decisions will be made locally - in close proximity to the customer,` says group executive vice president Åsmund Skår. Available office space will be sold In 53 places throughout the country, DnB and Gjensidige NOR`s branch offices are located so close to each other that activities will be coordinated under one roof. A number of factors were taken into consideration in deciding on future offices, including location and market conditions, the size and technical standard of the premises, and whether the premises are owned or rented by the bank. When all of the offices have been combined, DnB NOR will have a total of 215 branch offices and 33 business centres nationwide, a much higher number than either of the two banks had on their own. In addition to the branch offices, customers will be served from 25 investment centres, by telephone and over the Internet. The terms stipulated by the Competition Authority require DnB NOR to sell the available office space to competing banks. The branch offices will be placed on the open market for sale or rent within 1 January 2006.