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CONVERSION OF SHARES

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Five of our bondholders in FOE 03 06/09 have today
converted NOK 47.800.000,- into 702.939 new shares
at NOK 68,-. The new share capital after
conversion will be NOK 1.333.862.540,00 divided
into 66.693.127 shares at par value NOK 20,-.
Correspondingly the nominal value of the
Convertible bond will be reduced to NOK 265.000,-.