NONG: New equity capital registered

Reference is made to the stock exchange notice in 21 June 2011 in connection with the completed private placement in SpareBank 1 Nord-Norge.  The bank has also converted NOK 999 937 from the savings bank's fund into 32 226 new equity certificates for which the Sparebankstiftelsen SpareBank 1 Nord-Norge, the Foundation, become the owner. Following the conversion the equity certificate capital increase by NOK 805 650 while NOK 194 323 will be transferred to the premium reserve. This is in line with the conditions given by The Financial Supervisory Authority of Norway. For further information reference is made to the stock exchange notice dated 14 April 2011.

The capital increase in connection with the private placement and conversion was registered with the Norwegian Register of Business Enterprises on 28 June 2011 and the savings bank has received a new Certificate of Registration in connection with the capital increase. The Bank's equity capital now amounts to NOK 1 655 224 675 allocated between 66 208 987 equity certificates of NOK 25 each, fully paid up. The new equity certificates issued in connection with the private placement and conversion will on 29 June 2011 be transferred to the VPS-accounts of each subscriber and at the same time be assumed for listing on Oslo Børs.

Tromsø, 29 June 2011

Contact persons at SpareBank 1 Nord-Norge:

CEO  Hans Olav Karde:             +47 901 51 981

Deputy CEO  Oddmund Åsen:     +47 906 72 757

CFO Rolf Eigil Bygdnes:             +47 905 19 774
  
About SpareBank 1 Nord-Norge:
SpareBank 1 Nord-Norge is a leading provider of financial products and services within the  retail  banking  and  corporate  banking  markets and public sector throughout  the region. The Bank has a total customer base of around 244,000 retail banking customers, around 36,500 corporate customers, including public sector agencies, clubs and associations, and around 101,000 insurance customers.

The Bank has 74 branch offices in Finnmark, Troms, Nordland and Svalbard. In September 2010, SpareBank 1 Nord-Norge established banking operations in Russia through North-West 1 Alliance Bank.   SpareBank 1 Nord-Norge holds a 75 percent ownership interest in the bank, while the remaining 25 per cent of the shares is owned by SpareBank 1 Nord-Norge's Russian partner Bank Tavrichesky in St.  Petersburg.  The new bank is headquartered in St.  Petersburg and has a branch office in Murmansk

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.