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CONVERSION OF SHARES

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One of our bondholders have today converted NOK
500.000,- into 7.352 new shares at NOK 68,-. The
new share capital after conversion will be NOK
1.227.533.680 divided into 61.376.684 shares at
par value NOK 20,-. Correspondingly the nominal
value of the Convertible bond will be reduced to
NOK 361.784.000.