DNBNOR - GO-AHEAD FOR DNB NORD

On 16 December 2005, the Norwegian Ministry of Finance granted DnB NOR Bank ASA permission to acquire 51 per cent of Bank DnB NORD AS. Full statement on newsweb.no On 16 December 2005, the Norwegian Ministry of Finance granted DnB NOR Bank ASA permission to acquire 51 per cent of Bank DnB NORD AS. Corresponding permissions have previously been granted by the authorities in Denmark, Poland and the Baltic states. The necessary permissions are thus in place for the establishment of DnB NORD as of 1 January 2006. DnB NOR will establish DnB NORD in cooperation with the German financial services group NORD/LB. The two groups will own 51 and 49 per cent respectively of the new company, which will offer banking services in Finland, Denmark, Lithuania, Latvia, Estonia and Poland. The company`s head office will be located in Denmark. The permission is subject to the following conditions: - Kredittilsynet (the Financial Supervisory Authority of Norway) may impose special reporting requirements for operations in Bank DnB NORD AS - The Ministry of Finance may change or stipulate new terms in line with considerations to be met by the Financial Institutions Act. http://www.newsweb.no/index.asp?melding_ID=118755