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FINAL DECISION ON CONVERSION OF SPAREBANK 1 SR-BANK TO A LIMITED SAVINGS BANK

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In a meeting on 23 November 2011 the Supervisory Board of SpareBank 1 SR-Bank unanimously

adopted the Board's recommendation for converting the bank to a limited liability company
(ASA) and the formation of the Savings Bank Foundation SR-Bank, in accordance with the notice published in the stock exchange notification of 2 November 2011.

The corporate bodies in the converted SpareBank 1 SR-Bank ASA and the Savings Bank Foundation SR-Bank were assembled and selected in accordance with the recommendations of the nomination committee, published in the stock exchange notification of 2 November 2011. All selections come into effect from the expected date for execution of the conversion, 1 January 2012.

 
"The region is facing substantial growth in the years ahead. The growth will require extensive access to capital within both the corporate and the retail markets. With today's historic decision in the bank's Supervisory Board, a very important milestone has been achieved in the work of ensuring that the bank is equipped as well as possible to be able to serve the region's needs in the years to come," says Arne Austreid, Chief Executive Officer in SpareBank 1 SR-Bank.
 

Stavanger, 23 November 2011

Contact persons:

Arne Austreid, Chief Executive Officer, telephone +47 900 77 334
Inge Reinertsen, Chief Financial Officer, telephone +47 909 95 033
Thor-Christian Haugland, Executive Vice President Communications, telephone +47 480 31 633
Vidar Torsøe, Vice President Investor Relations, telephone +47 970 80 656 

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

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