Reference is made to notice dated March 10 this year.

Hafslund has entered into a final agreement with Eidsiva energi Holding AS concerning the divestment of Hafslunds shares in Mjøskraft AS (54,22%). Hafslund has also agreed to sell Hafslunds shares in Mjøskraft Strøm AS (ca 46%) to Eidsiva energi Holding AS. Total proceeds from the transactions are NOK 576 million, to be adjusted by Hafslund's share of earnings from and including 2004 up until closing of the transactions. Hafslunds total profit from the divestment will be just over NOK 50 million.

 

Final closing is conditional on, i.a., regulatory approval.

 

 

Hafslund ASA

 

Oslo May 27, 2005

 

For further information, please contact

 

CFO Christian Berg, + 47 917 46 910