Shipping loans

DnB NOR is aware that there are rumours and claims in the market concerning the quality of the bank's portfolio of shipping loans. DnB NOR has a global shipping portfolio consisting of loans to the leading industrial players in this industry. These clients are characterised by extensive resources, a high level of fixed contracts on their vessels, strong equity and healthy liquid reserves. The credit quality of DnB NOR's shipping portfolio, measured in terms of expected losses, is better than the average for the overall corporate market portfolio. In order to give the market further insight into the situation, a web meeting will be held for investors and analysts on Monday, 24 November 2008 at 2:00 pm CET, where senior executives in the Shipping Division will answer questions sent in related to the portfolio. A presentation will be available on the Group's web page dnbnor.com no later than 12 noon CET on Friday, 21 November to provide background information prior to the meeting. At the same time, details regarding the web meeting will also be presented. DnB NOR would like to emphasise, in line with what was communicated in the report for the third quarter of 2008, that the bank is well capitalised and that the Group's plan for strengthening core capital remains unchanged. The plan is based on the assumption that no share issue will be required. For further information, please contact: Bjørn Erik Næss, CFO Per Sagbakken, executive vice president, IR/Long-term Funding Trond Bentestuen, group executive vice president, Corporate Communications This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.