DNBNOR - PROPOSED AUTHORISATION FOR THE REPURCHASE OF SHARES

At the General Meeting to be held on 27 April 2004, the http://www.newsweb.no/index.asp?melding_ID=90108 Board of Directors in DnB NOR ASA will request authorisation to repurchase shares. Pursuant to the authorisation, the Board will be authorised to acquire own shares for a total face value of up to NOK 1 309 027 207, corresponding to 10 per cent of share capital. At the General Meeting to be held on 27 April 2004, the Board of Directors in DnB NOR ASA will request authorisation to repurchase shares. Pursuant to the authorisation, the Board will be authorised to acquire own shares for a total face value of up to NOK 1 309 027 207, corresponding to 10 per cent of share capital. The shares may be purchased through the stock market and/or from the Ministry of Trade and Industry at market price, or through an organised repurchase from private investors or the Ministry of Trade and Industry. Each share may be purchased at prices between NOK 10 and NOK 70. The authorisation is valid for a period of 12 months from 27 April 2004. Acquired shares shall be sold as found appropriate by the Board of Directors, or redeemed following a proposal by the Board of Directors in accordance with regulations on the reduction of capital.