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FIDELITY HAS 5.11%

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Oslo Børs has received report of Significant Shareholdings
from Fidelity Investments Ltd. where it is stated that they
on behalf of investors have purchased 82,000 shares in
Fred Olsen Energy ASA. The date of which the 5% threshold
was
crossed is 1 March 2006. The new holding is 3,126,160
equal to 5,11%.