Fully underwritten bond issue

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The Board of Storebrand ASA has passed a resolution to issue NOK 1.5 billion in senior bonds to refinance the existing bond STB55.
The issue is fully underwritten by a guarantee consortium.
The new bonds will have a tenor of 5 years from 11 December 2002. The issue will consist of two tranches, with a fixed rate of interest equal to 5 year swap rate +0.80% p.a. and a floating rate of interest equal to 3 months NIBOR + 0.80% p.a. respectively. The proceeds of the bonds will be used to repay the existing bond STB55 with interest rate 8.5% p.a. and final maturity 29 June 2003. The subscription period will run from 14 November. The bonds will be listed on the Oslo Stock Exchange. The underwriters will receive a fee of 0.75%.
Advisors to the issuer are Pareto Securities ASA, Nordea Markets and Fondsfinans ASA. These may be contacted for further information.
Oslo, 11 November 2002

Contact persons at Storebrand ASA <br> Lars Aa Løddesøl, <br> Executive Vice President, Finance Director, <br> tel: +47 22 31 56 24 <br> <br> Egil Thompson, <br> Director of Corporate Communications, <br> tel: +47 22 48 95 86 <br> <br> Nils Robert Hodnesdal, <br> Investor Relations, <br> tel: +47 22 31 55 33 <br> <br> <br> Contact person in Pareto Securities ASA: <br> Atle Sigmundstad, tel: +47 22 87 87 75 <br> <br> <br> Contact person in Nordea Markets: <br> Eindride Stien, tel: +47 22 48 78 93 <br> <br> <br> Contact person in Fondsfinans ASA: <br> Per Heyeraas, tel: +47 23 11 30 33