RE ANNUAL RESULT

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The accounts of Hafslund ASA and the Hafslund Group at 31 December 1998 were presented today at a meeting of the Corporate Assembly, which resolved to recommend to the Annual General Meeting that the accounts be adopted.

The Corporate Assembly supports the Board of Directors' proposal for appropriations and equity transfers for the 1998 financial year.

Oslo, 25 March 1999
Hans Halvorsen
Chairman of the Corporate Assembly