With reference to the stock exchange notice on the 4th of July 2006 with regards to the agreement entered into with the City of Oslo (Oslo kommune) to acquire the City of Oslo's 67% ownership share in Viken Fjernvarme. The sale of Viken Fjernvarme was on the 15th of November approved by the City Council of Oslo. Hafslund's acquisition of Viken Fjernvarme was further approved by the extraordinary general assembly of Hafslund ASA on the 30th August.

 

There are no changes to the agreement entered. The agreement implies that Hafslund as of 1 January 2007 will take over the 67% ownership share of the City of Oslo in Viken Fjernvarme for approx. NOK 2 billion, including the relative share of profit after tax for 2006. Settlement will take place during the 1st quarter 2007.

 

The agreement is subject to approval by relevant authorities.

 

Oslo, 16 November 2006

 

For further information:

 

Group Senior Vice President, Heat and Infrastructure, Per Kristian Olsen, tel. +47 91 82 77 09

                 

Vice President Investor Relations, Heidi Ulmo, tel. +47 90 91 93 25