HNA/HNB - Sale of the shares in Mjøskraft AS and Mjøskraft Strøm AS

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