DNBNOR - SECOND QUARTER REPORT 2006

Pre-tax operating profits up 26 per cent - merger process completed DnB NOR`s pre-tax operating profits were NOK 7.4 billion in the first half of 2006. This is an increase of 26 per cent compared with the first half of 2005. There is strong growth in both domestic and international operations. Attachment on www.newsweb.no DnB NOR`s pre-tax operating profits were NOK 7.4 billion in the first half of 2006. This is an increase of 26 per cent compared with the first half of 2005. There is strong growth in both domestic and international operations. Key figures - first half 2006: · Pre-tax operating profits were NOK 7.4 billion (NOK 5.9 billion in the first half of 2005) · Profits rose 28 per cent to NOK 5.7 billion (NOK 4.4 billion) · Ordinary expenses were scaled back to 49.3 per cent (52.7) of income · Return on equity was 19.2 per cent (16.9) · Earnings per share were NOK 4.21 (3.32) Key figures - second quarter 2006: · Pre-tax operating profits were NOK 3.7 billion (NOK 3.2 billion in the second quarter of 2005) · Profits were NOK 2.9 billion (NOK 2.4 billion) · Ordinary expenses were scaled back to 50.5 per cent (52.9) of income · Return on equity was 19.2 per cent (18.0) · Earnings per share were NOK 2.11 kroner (1.78) Comments by group chief executive Svein Aaser: `We have achieved strong growth in all our business areas, both in Norway and internationally. Income rose by as much as 16 per cent compared with the first half of 2005, showing that we are performing well amidst fierce competition from other Nordic players. We have taken a leading position in the mandatory occupational pension market and our mutual funds market share has increased. In spite of volatile markets, DnB NOR Markets has achieved a rise in profits. Our international operations are becoming increasingly important, and our initiatives in Sweden, the Baltic region and Poland are now bearing fruit.` `DnB NOR expanded by 25 per cent in the corporate market from the second quarter of 2005 and is gaining market shares in sectors such as shipping.` `The number of retail customers subscribing to DnB NOR`s loyalty programmes and Postbanken product packages has exceeded one million, confirming that our terms are considered to be highly competitive and that our customers appreciate personal service and a wide range of products.` `I am delighted to be able to report that we have now completed all of the major integration projects since the merger in 2003. We have realised the synergies promised, achieving our targets ahead of schedule while strengthening market positions. I am impressed by the effort put forth by our staff in both large and small projects, which for many have come in addition to their daily challenges in a competitive market. To further improve our competitive power, we will continue streamlining our operations while investing in new operations and developing new products and solutions for our customers,` says group chief executive Svein Aaser. The quarterly report including tables can be downloaded from www.dnbnor.com Press release, second quarter report, presentation and Supplementary Information for Investors and Analysts can be found on www.newsweb.no http://www.newsweb.no/index.asp?melding_ID=133137