CONVERSION OF SHARES

Wed, Oct 12, 2005 13:45 CET

One of our bondholders have today converted NOK 1.900.000,-
into 27.941 new shares at NOK 68,-. The new share capital
after conversion will be NOK 1.223.069.660 divided into
61.153.483 shares at par value NOK 20,-. Correspondingly
the nominal value of the Convertible bond will be reduced
to NOK 376.962.000.