Storebrand Bank ASA: New managing director

The board of Storebrand Bank ASA has appointed Bernt Uppstad (45) as Managing Director of Storebrand Bank ASA. Bernt Uppstad has been with Storebrand for 10 years and has an MSc in Economics and Business Administration (Siviløkonom). He has previously headed the bank's retail market and currently holds the position of head of Risk and Administration. Uppstad takes up his new position on 1 July 2015. Current Managing Director Truls Nergaard is leaving Storebrand Bank ASA on the same day. He has headed the bank since 2010. He will now be responsible for building up a debt investment unit at Storebrand Livsforsikring AS. The board wishes to thank Truls Nergaard for his efforts in connection with the restructuring of Storebrand Bank ASA and the work that was done in adapting the bank to the group's retail market strategy.

Contacts:

Information Director Elin M. Myrmel-Johansen: Mobile +47 93 48 05 38

Head of Investor Relations Kjetil Ramberg Krøkje: Mobile +47 93 41 21 55