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CONVERSION OF SHARES

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Five of our bondholders have today converted NOK 1.800.000
into 26.468 new shares at NOK 68,-. The new share capital
after conversion will be NOK 1.219.547.920 divided into
60.977.396 shares at par value NOK 20,-. Correspondingly
the nominal value of the Convertible bond will be reduced
to NOK 388.936.000.