NEW FINANCIAL TARGET FIGURES

At a Capital Markets Day in London today, 9 October 2007, DnB NOR ASA will present new financial target figures for the 2008-2010 period. The new target figures are 16 per cent return on equity and a 10 per cent average annual increase in pre-tax operating profits before write-downs. Complete statement on www.newsweb.no At a Capital Markets Day in London today, 9 October 2007, DnB NOR ASA will present new financial target figures for the 2008-2010 period. The new target figures are 16 per cent return on equity and a 10 per cent average annual increase in pre-tax operating profits before write-downs. This implies that the return on equity target has been raised from 15 to 16 per cent. A 10 per cent annual increase in pre-tax operating profits before write-downs implies that this figure will reach NOK 20 billion in 2010, up from NOK 14.1 billion in 2006. `Our customer base and our strong distribution network in Norway give us a unique platform for selling an increasing number of products per customer. Internationally, we will build on our expertise within shipping, energy and fisheries. We will become a universal bank in Sweden and expand our initiatives in the Baltic region through DnB NORD,` says group chief executive Rune Bjerke. DnB NOR has already reached its target of a cost/income ratio below 50 per cent. Bjerke expresses an ambition to achieve a cost/income ratio below 46 per cent by 2010. `We have initiated a cost programme in our Norwegian operations which will reduce costs by NOK 1 billion annually by 2010,` he says. The cost reductions will be realised by streamlining operational processes, IT, procurement and distribution. Based on changes in the way customers use the bank, the number of branch offices will be reduced by 30 during the period up to 2010. DnB NOR`s current dividend policy and capital adequacy requirements will remain unchanged. This implies a core capital ratio target of approximately 6.5 per cent and the distribution of approximately 50 per cent of net annual profits as dividends