Reference is made to Report to the Oslo Stock Exchange dated 2 March informing it that the Bank's Board of Directors had proposed that the Board of Trustees, at its meeting on 17 March, should pass the following resolution:

 

The PCC-capital to be increased by NOK 131,940,400, from NOK 659,701,800 to NOK 791,642,200, by the transfer of NOK 131,940,400 from the Dividend Equalisation Fund.  The issue to be done by the issuance of 1,319,404 new PCCs (bonus certificates)

 

After completion of the bonus isses, the nominal amount of the PCCs to be split into two, making the new nominal amount of each certificate NOK 50.

 

 

On the assumption that the Board of Trustees passes a resolution in accordance with the abovementioned proposal, the proposal will be implemented in the following way:

 

 

*  17.03.05    the last day on which the PCCs are traded inclusive the right to bonus certificates

*  18.03.05    the first day on which the PCCs are traded exclusive of bonus certificates

*  22.03.05    or, as soon as practicable after this date, the bonus certificates to be allotted to the PCC-holders

*  29.03.05    the last day on which the PCCs may be traded on a non-split basis

*  30.03.05    the first day on which the PCCs may be traded on a split basis