TORKILD VARRAN NEW HEAD OF DNB NOR ASSET MANAGEMENT

Torkild Varran (49) has been appointed managing director of DnB NOR Kapitalforvaltning Holding and DnB NOR Kapitalforvaltning ASA. He has been head of investment in DnB NOR Asset Management since 2004 and will continue to perform this function. Complete statement on www.newsweb.no Torkild Varran (49) has been appointed managing director of DnB NOR Kapitalforvaltning Holding and DnB NOR Kapitalforvaltning ASA. He has been head of investment in DnB NOR Asset Management since 2004 and will continue to perform this function. `I am very happy and proud to accept this position, and I look forward to facing more extensive and challenging tasks in a successful organisation with competent and talented colleagues,` says Torkild Varran. He will take up his new position today, 10 September 2007. Broad experience Torkild Varran holds a Master of Science degree in economics from the University of Oslo and has an MBA from the Norwegian School of Economics and Business Administration. He has worked in the securities market since 1984, within both brokerage and asset management. Torkild Varran has previously been head of investment at Gjensidige NOR Kapitalforvaltning, Avanse forvaltning ASA, Nordea Fondene and the Norwegian National Insurance Fund. Norway`s largest DnB NOR Asset Management is Norway`s largest provider of mutual funds and discretionary asset management and has 320 employees. Assets under management as at 30 June 2007 totalled NOK 549 billion. DnB NOR Asset Management has offices in Oslo, Stockholm, Bergen, London, New York and Hong Kong. Every day, more than 100 analysts and portfolio managers supervise customer portfolios and mandates. Delighted `I am very pleased that Torkild Varran has been willing to assume the position as head of DnB NOR Asset Management,` says board chairman in DnB NOR Asset Management and group executive vice president in charge of Life Insurance and Asset Management, Tom Rathke. DnB NOR Asset Management and Vital Forsikring ASA form the business area Life Insurance and Asset Management in the DnB NOR Group.