SpareBank 1 SR-Bank ASA : Annual General Meeting held

The Annual General Meeting (AGM) of SpareBank 1 SR-Bank ASA was held on 29 March 2012 in Stavanger.

The AGM approved the nomination committee's proposal for election of members and deputy members to the supervisory board and election of a member and deputy member to the control committee. In addition, the AGM approved election of members to the nomination committee.

The AGM further approved the annual accounts and annual report for 2011. The resolution also included the payment of a dividend for 2011 of NOK 1.50 per share for those who are shareholders as of 29 March 2012, with payment on 12 April 2012. The shares of SpareBank 1 SR-Bank ASA will be traded ex-dividend from 30 March 2012.

The AGM approved the Board of Directors proposed amendment to the articles of association, as well as rules of procedure for the Board of Directors and instructions for the CEO.

The AGM gave the Board of Directors the authority to acquire and pledge own shares for a total nominal value of NOK 490,000,000. Holdings of shares the bank owns and/or pledge agreements cannot exceed 10% of the registered share capital. The shares may be purchased through the stock market. Each share may be bought at prices between NOK 1 and 150. The authorizations shall be valid for 18 months from 29 March 2012.

The AGM further granted the Board of Directors power of attorney to issue hybrid Tier 1 securities and raise subordinated loan capital, together or individually, up to NOK 2,000,000,000 or equivalent in foreign currency. The authorization is valid for 18 months from 29 March 2012.

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