Gjensidige considers equity instrument

The board of directors in Gjensidige have decided the company will commence a project to prepare the issuing of a listed equity instrument.

The purpose is to be able to increase core capital so the company has greater freedom and opportunities to participate in the structural changes affecting the Norwegian financial sector. As well as placing a value on the company, a listing will establish securities that can be used for potential acquisitions.

Among other things, the project will involve a valuation of the company as well as other activities that are necessary prior to a listing. At the same time, the company will perform thorough analyses to clarify the various questions relating to choice of equity instrument and other important issues prior to making a decision concerning a listing. First and foremost the opportunities primary certificate capital present will be charted. 

The goal of the project will be listing on the Oslo Stock Exchange during the second half of 2007 and any decision to list will be taken by Gjensidige's general meeting. A provisional discussion will take place at the ordinary general meeting of 21 April, with any final decision being made as close to any listing as possible.

Any listing will need to be approved by the authorities.  

Contact:
Tor Magne Lønnum, Deputy Chief Executive Officer, tel: (+47) 971 64 830.
Øystein Thoresen, Information Director, tel: (+47) 952 33 382.