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CONVERSION OF SHARES

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Three of the bondholders have today coverted NOK 3.500.000
into 51.468 new shares. The new share capital after
conversion will be NOK 1.215.881.880 divided into
60.794.094 shares at par value NOK 20. Correspondingly the
nominal value of the Convertible bond will be reduced to
NOK 401 401 000.