DnB NOR has signed an agreement to acquire a total of 76.3 per cent of BISE Bank in Poland through its partially-owned subsidiary DnB NORD. This will result in a twofold increase in operations in the Polish market. Complete announcement at newsweb.no DnB NOR has signed an agreement to acquire a total of 76.3 per cent of BISE Bank in Poland through its partially-owned subsidiary DnB NORD. This will result in a twofold increase in operations in the Polish market. BISE Bank's operations focus on retail customers, small and medium-sized businesses and parts of the public sector, while DnB NORD in Poland currently serves only corporate clients. BISE Bank has 780 employees and 46 branches throughout Poland. The shares will be purchased from the French Crédit Coopératif (51.7 per cent) and the Polish ARP (24.6 per cent), a government-owned industrial development agency. The acquisition price represents 3.3 times book equity and values the Polish bank at approximately EUR 140 million. The final consideration may be subject to adjustment. Existing shareholders in BISE have pre-emptive rights to purchase the shares DnB NORD has currently agreed to acquire. DnB NORD will negotiate with the minority shareholders with an aim to take over the remaining shares. DnB NORD was established in 2005. In addition to the Polish market, the bank has operations in Finland, Estonia, Latvia, Lithuania and Denmark. DnB NOR ASA owns 51 per cent of the banking group, while Norddeutsche Landesbank (NORD/LB) owns the remaining shares. DnB NOR will contribute its part of the financing. 'DnB NORD is an important part of our international operations. The acquisition of BISE Bank represents a significant expansion of our operations in Poland, giving us a sound foothold in the retail market, the public sector and the SME segment,' says Svein Aaser, group chief executive in DnB NOR and board chairman in DnB NORD. BISE Bank was established in 1990 by Crédit Coopératif and the Polish Ministry of Labour and Social Policy to provide financing to small and medium-sized companies and contractors. Since then, the bank has expanded its customer base to include retail customers, the energy sector, condominiums and local authorities. Pre-tax profits for the first nine months of 2006 totalled EUR 5 million, while total assets were EUR 600 million at end-September. Potential synergies of approximately EUR 8 million have been identified, mainly from sales of DnB NORD products to customers of BISE Bank. For information about DnB NORD and its activities in Poland, see dnbnord.com. http://www.newsweb.no/index.asp?melding_ID=141611

DnB NOR has signed an agreement to acquire a total of 76.3 per cent of BISE Bank in Poland through its partially-owned subsidiary DnB NORD. This will result in a twofold increase in operations in the Polish market. Complete announcement at newsweb.no DnB NOR has signed an agreement to acquire a total of 76.3 per cent of BISE Bank in Poland through its partially-owned subsidiary DnB NORD. This will result in a twofold increase in operations in the Polish market. BISE Bank's operations focus on retail customers, small and medium-sized businesses and parts of the public sector, while DnB NORD in Poland currently serves only corporate clients. BISE Bank has 780 employees and 46 branches throughout Poland. The shares will be purchased from the French Crédit Coopératif (51.7 per cent) and the Polish ARP (24.6 per cent), a government-owned industrial development agency. The acquisition price represents 3.3 times book equity and values the Polish bank at approximately EUR 140 million. The final consideration may be subject to adjustment. Existing shareholders in BISE have pre-emptive rights to purchase the shares DnB NORD has currently agreed to acquire. DnB NORD will negotiate with the minority shareholders with an aim to take over the remaining shares. DnB NORD was established in 2005. In addition to the Polish market, the bank has operations in Finland, Estonia, Latvia, Lithuania and Denmark. DnB NOR ASA owns 51 per cent of the banking group, while Norddeutsche Landesbank (NORD/LB) owns the remaining shares. DnB NOR will contribute its part of the financing. 'DnB NORD is an important part of our international operations. The acquisition of BISE Bank represents a significant expansion of our operations in Poland, giving us a sound foothold in the retail market, the public sector and the SME segment,' says Svein Aaser, group chief executive in DnB NOR and board chairman in DnB NORD. BISE Bank was established in 1990 by Crédit Coopératif and the Polish Ministry of Labour and Social Policy to provide financing to small and medium-sized companies and contractors. Since then, the bank has expanded its customer base to include retail customers, the energy sector, condominiums and local authorities. Pre-tax profits for the first nine months of 2006 totalled EUR 5 million, while total assets were EUR 600 million at end-September. Potential synergies of approximately EUR 8 million have been identified, mainly from sales of DnB NORD products to customers of BISE Bank. For information about DnB NORD and its activities in Poland, see dnbnord.com. http://www.newsweb.no/index.asp?melding_ID=141611

Rune Bjerke has taken over from Svein Aaser as group chief executive of DnB NOR. Rune Bjerke is 46 years old and was formerly president and CEO of Hafslund ASA. Rune Bjerke has also been president and CEO of Scancem International. He has held a number of board positions in large companies and has also served as finance commissioner of the Oslo City Council and as political adviser in Norway's Ministry of Petroleum and Energy. Rune Bjerke holds an economics degree from the University of Oslo and a master's degree in public administration from Harvard University.

The Board of Directors of DnB NOR Bank ASA has proposed that the General Meeting in DnB NOR Bank ASA resolve to give DnB NOR's group chief executive, Rune Bjerke, deputy CEO Tom Grøndahl and executive vice president Per Sagbakken individual authorisations to issue hybrid Tier 1 securities on behalf of DnB NOR Bank ASA for a total of up to EUR 650 million or the approximate equivalent amount in another currency. An Extraordinary General Meeting will be held in DnB NOR Bank ASA on 16 January 2007.

DnB NOR Bank ASA has entered into an agreement to issue new hybrid Tier 1 securities for a total of GBP 350 million at a rate of Sterling Libor plus 69.5 basis points. Subscriptions started in the morning on Wednesday, 24 January 2007, and at the closing on the same afternoon, the issue had been four times oversubscribed. The securities are perpetual, but may be redeemed after ten years. The issue will strengthen the capital adequacy ratio of the DnB NOR Group by 0.34 percentage points. The bank also has two outstanding hybrid Tier 1 securities issues of USD 400 million and EUR 350 million respectively with an average margin of 200 basis points. The arrangers of the latest issue were Barclays, JP Morgan and UBS.

Bård Benum has chosen to retire from his position as group executive vice president in DnB NOR and managing director of Vital to take over as president and CEO of Powel ASA. Benum has been employed in the Group for nine years and has headed what is now known as Vital for six years. He will continue to head Vital until a new managing director is appointed. Powel ASA provides software solutions to the energy sector in Norway and internationally, and is headquartered in Trondheim.

Supplementary information - 22 February 2007

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Supplementary Information for Investors and Analysts

Full Year Results 2006