The board of SpareBank 1 SR-Bank resolved at a meeting on 19 October to propose to the bank's Supervisory Committee a subscription price of NOK 35 per new equity certificate in the following issues:

 

1)      Public rights issue and the supplementing private placing to Gjensidige Forsikring BA

2)      Private placing to employees

 

Further information of the issues can be found in the press release of 25 September 2009.

Owners of equity certificates as of 20 October 2009 will be assigned subscription rights. First day of listing excluding subscription rights will be 21 October 2009. Based on the proposal for the subscription price, existing owners will have the right to subscribe for new equity certificates corresponding to 10.56 percent of existing equity certificates in the public rights issue. It will be issued 0.1056 subscription rights per existing equity certificate (to other owners than Gjensidige Forsikring BA), and it requires one subscription right to be granted one new equity certificate.

 

The subscription price is 25.5 percent lower than the volume weighted average price last 5 trading days, adjusted for the value of the subscription right.

 

20. October 2009 the bank's Supervisory Committee will process the issue proposals.

Stavanger, 20 October 2009

Contact persons at SpareBank 1 SR-Bank:

Director SR-Markets Stian Helgøy, +47 906 52 173

Investor Relations manager Kyrre M. Knudsen, tlf +47 938 83 518

Group Communications Director, Thor-Christian Haugland, tel. +47 480 31633