CONVERSION OF SHARES

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One of the bondholders have today converted NOK 4.491.000
into 66.044 new shares at NOK 68,-. The new share capital
after conversion will be NOK 1.217.202.760 divided into
60.860.138 shares at par value NOK 20,-. Correspondingly
the nominal value of the Convertible bond will be reduced
to NOK 396.910.000.