CONVERSION OF SHARES

Mon, Oct 03, 2005 14:16 CET

On of our bondholders have today converted NOK 7.000.000,-
into 102.941 new shares at NOK 68,-. The new share capital
after conversion will be NOK 1.222.510.840 divided into
61.125.542 shares at par value NOK 20,-. Correspondingly
the nominal value of the Convertible bond will be reduced
to NOK 378.862.000