HNA/HNB - New organisational structure and management changes

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All the business areas within Hafslund have shown good progress and are delivering positive figures. To strengthen each business area, organisational changes are carried out to be positioned for further growth. The current organisational structure is expanded from two to four business areas with respective group senior vice presidents. The business areas Operations and Markets each are divided into two units, respectively Infrastructure and Technical Services, together with Private and Corporate. Hafslund Venture is further included as part of Finance. Organizational development is maintained as previously.

The business area Infrastructure will include all tasks related to the operations of the network, power generation, district heating, Tokom (ATM and broadband) and real estate.
 
The business area Technical Services will include all services related to contracting, installation, electric safety and high security operations.
 
The business area Private will include electricity and security to the retail market, including customer centre, invoicing services and the alarm central. 
 
The business area Corporate will include electricity and security to the corporate market, where the security services include guarding and valuables transport.
 
Business development is with the new organizational structure assigned to each business area.
 
Together with the president and CEO Rune Bjerke (45), the new group management consists of:
 
- Group Senior Vice President and CFO: Christian Berg (36). Berg will continue in his current position as group senior vice president of Finance, and will from 1 September also act as vice president and CEO. Hafslund Venture has under the new organizational structure become part Finance.
 
- Group Senior Vice President Infrastructure: Per Kristian Olsen (55). Olsen has been group senior vice president Operations since October 2003, and group senior vice president for Hafslund Network since March 2002.
 
- Group Senior Vice President Technical Services: Bjørn Frogner (43). Frogner has been group senior vice president Business Development since October 2003, and group senior vice president Contracting and Security since 2001.
 
- Group Senior Vice President Private: Cato Haugen (34). Haugen has since September 2004 been responsible for electricity and security Private within Hafslund, and from 2001 CEO of Hafslund Sikkerhet Privat AS. Haugen came to Hafslund in 2001 as an entrepreneur of one of the security companies which formed the basis for Hafslund Security. Haugen has a bachelor degree in business studies from the Norwegian School of Management. 
 
- Group Senior Vice President Corporate: Tove Pettersen (34). Pettersen has been group senior vice president Markets since October 2003, and has been with Hafslund since 1997.
 
- Group Senior Vice President Organizational Development: Ingeborg Aass Holten (44). Holten has been group senior vice president Organizational Development, which includes Public Relations and IT, since May 2004.
 
The changes will take effect from 1 September 2005.
 
Hafslund ASA
Oslo, 31 August 2005
 
For further information please contact:
 
President and CEO Rune Bjerke, tlf. +47 22 43 50 00
SVP PR Frode Geitvik, tlf: 95 84 39 33