The subscription period for the Public Rights Issue in SpareBank1 SR-Bank ended Wednesday 11th November 2009. The preliminary subscription result indicates a subscription of 14.3 million new equity certificates and a total subscribed amount of NOK 500 million. The gross deal size is NOK 331 million and the number of new equity certificates to be issued in the rights offering is 9 450 870 equity certificates.

 

Allocation of equity certificates will be done according to the allocation principles described in the Prospectus dated 26th October 2009. It is expected that the allocation letter will be issued 17th November 2009. Payment will be done by direct debit of the subscribers bank accounts the 19th November 2009. The total subscription amount must be available on the stated bank account no later than 18th November 2009.

 

The interest for subscription from employees in the Employee Issue of maximum NOK 90 million was solid. The preliminary result indicates that approximately 500 employees have subscribed for approximately 861 000 new equity certificates, representing a subscribed amount of approximately NOK 30 million.   

 

Two Private Placements towards Gjensidige Forsikring BA have been completed, in accordance with the description in the Prospectus dated 26th October 2009. In total, Gjensidige Forsikring BA has subscribed for 20 713 065 new equity certificates, equivalent to an amount of NOK 866 million. The payment will be done no later than 19th November 2009.

 

SpareBank1 SR-Bank is satisfied with the significant interest for the issues.

 

Stavanger, 12th November 2009

 

Contact persons:

 

Investor Relations Manager Kyrre M. Knudsen, tel. +47 938 83 518

Executive V. P. Communication. Thor-Christian Haugland, tel. +47 480 31 633.