CEO Hans Olav Karde extends employment contract by one year. New retirement date will be 31.12.2012.

CEO Hans Olav Karde would under the current employment agreement retire from his position in the bank on 31.12.2011.

The Main Board of Directors has asked Mr. Karde to continue. It is understood that the employment contract is extended by one year.  New retirement date will be 31.12.2012.

The Main Board of Directors is very pleased with this solution. 

Any questions may be directed to Communication Director Stig-Arne Engen, +47 913 60 990.

Tromsø, 20 December 2010
SpareBank 1 Nord-Norge

Stig-Arne Engen
Communication Director

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