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Acquisition of 75 % of the shares in North-West 1 Alliance Bank has been completed

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SpareBank 1 Nord-Norge has completed the purchase of 75 % of the shares in North-West 1 Alliance Bank.  The remaining 25 % of the shares is held by SpareBank 1 Nord-Norge's Russian partner, Bank Tavrichesky, St. Petersburg.  The new bank is headquartered in St. Petersburg, with an office in Murmansk.

 

The official opening of North-West 1 Alliance Bank is taking place today, 16 September 2010.

 

Reference is made to press release and announcement to the Oslo Stock Exchange dated 29 August 2010.

 

Contact persons at SpareBank 1 Nord-Norge
CEO Hans Olav Karde, tlph + 47 901 51981
deputy CEO Oddmund Åsen, tlph + 47 906 72757

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)