Klaus-Anders Nysteen new Managing Director in Storebrand Bank

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The Board of Directors and Board of Representatives in Storebrand Bank ASA have in a joint meeting 3 May 2006 appointed Klaus-Anders Nysteen (40) as new Managing Director in the bank. As responsible for Storebrand Group's banking activities, Mr. Nysteen will be part of Storebrand's Executive Management Group.

Mr. Nysteen has previously been finance director in Hydro Seafood Norway AS and finance director/executive vice president in Hydro Seafood GSP Ltd. in Scotland. Thereafter he was acting CEO in Posten Norge AS, and comes from a position as CFO and Executive Vice President at the same company.
 
Klaus-Anders Nysteen is educated at the Norwegian Marine Academy (Sjøkrigsskolen) and also holds an MBA from the Norwegian School of Economics and Business Administration.
 
- I am very happy that Klaus-Anders Nysteen has accepted the tasks to continue developing and growing Storebrand Bank, and I look forward to having him on board, comments Group CEO Idar Kreutzer.
 
Acting Managing Director before Mr. Nysteen takes on the position in Storebrand Bank ASA 1 September 2006, will be Nina Juel Arstal, deputy Managing Director.
 
 
 
Oslo, 4 May 2006

Contact persons: <br> Egil Thompson, Executive Vice President, Corporate Communications and Brands: <br> Tel. + 47 22 48 95 86 - Mobile: + 47 93 48 00 12 <br> Nils Robert Hodnesdal Head of Investor Relations: <br> Tel.: + 47 22 31 55 33 - <br> Mobile: + 47 93 40 38 13

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