The prospectus is now available at SpareBank 1 SR-Bank's web site at www.sr-bank.no. The prospectus is prepared in Norwegian language only. Reference is made to the company presentation in connection with the rights issue published 1 March 2007.

 

SpareBank 1 SR-Bank will issue 3.753.831 PCCs with pre-emptive rights for PCC holders as of 2 March 2007. The rights issue has been fully underwritten by a syndicate established by First Securities ASA. The underwriting syndicate guarantees that all PCCs in the rights issue will be subscribed, but does not guarantee for the payment of the subscribed and allocated PCCs.

 

There will in addition be a private placement of minimum 1 and macimum 342.450 PCCs for the bank's employees.

 

The subscription price in both issues is NOK 146 per PCC.

The subscription period is from and including 9 March to and including 23 March 2007.

 

One PCC held per 2 March 2006 entitles the holder to one subscription right. Six subscription rights are required to subscribe for one new PCC in the rights issue. The subscription rights will be listed on the Oslo Stock Exchange during the subscription period and are fully transferable till the expiry of the subscription period 23 March at 16.30 hrs. Norwegian time. Subscription rights must be used to subscribe for new PCCs or sold before the end of the subscription period as they will be of no value after the expiry date. The ticker code for the subscription rights will be ROGGT. The subscription rights are expected to be issued to the PCC holders VPS accounts on 8 March 2007.

 

Allocation will be on or about 29 March 2007, and payment for the allocated shares will be on or about 3 April 2007.

 

The total amount raised in the PCC issues will be minimum NOK 548.059.472 and maximum NOK 598.057.026.

 

First Securities ASA is manager for the issues.

 

Stavanger, 7 March 2007

 

Contact persons:

CEO Terje Vareberg, 0047 51 50 95 53 / 0047 91 10 04 48

CFO Lisbet K. Nærø, 0047 51 50 95 61 / 0047 95 26 59 60