DnB NOR will establish its own non-life insurance company, and has an ambition to capture a considerable share of the retail non-life insurance market. The new company will start operations by the end of 2008. Complete statement on www.newsweb.no DnB NOR will establish its own non-life insurance company, and has an ambition to capture a considerable share of the retail non-life insurance market. The new company will start operations by the end of 2008. So far, DnB NOR has delivered non-life insurance in cooperation with external risk bearers. The establishment of the new company means that DnB NOR will control the entire value chain. 'DnB NOR wishes to offer customers a full range of financial services. The establishment of our own non-life insurance company will enable us to tailor products to the retail segment. We will take advantage of our extensive distribution power to gain a considerable share of this market,' says Åsmund Skår, group executive vice president, DnB NOR Retail Banking. Since 1999, DnB NOR has offered its customers non- life insurance through Vital Skade. The current portfolio with NOK 700 million in premium income will be incorporated in the new company. 'We have extensive experience within non-life insurance, and DnB NOR is at the forefront in the electronic distribution of insurance products through the Internet bank. This ensures very cost- effective operations. Today, 5.8 per cent of our 800 000 Internet banking customers have bought non- life insurance policies. We aim to increase this share to 30 per cent,' says Åsmund Skår. DnB NOR will market non-life insurance in all distribution channels: branch offices, the telephone bank, the Internet bank, the mobile bank and real estate brokerages. Customers will buy and manage their insurance policies in a self-service solution in the Internet bank.

DnB NOR is to open a branch office in Santiago and representative offices in Piraeus and Mumbai. 'These initiatives are part of DnB NOR's international growth strategy and will strengthen our ability to locally follow up existing clients within shipping, energy, fisheries and aquaculture, while creating new business opportunities for the bank,' says Leif Teksum, group executive vice president. Complete statement on www.newsweb.no DnB NOR is to open a branch office in Santiago and representative offices in Piraeus and Mumbai. 'These initiatives are part of DnB NOR's international growth strategy and will strengthen our ability to locally follow up existing clients within shipping, energy, fisheries and aquaculture, while creating new business opportunities for the bank,' says Leif Teksum, group executive vice president. Greece The office in Piraeus will serve shipping clients in and outside Greece. DnB NOR is among the world's leading banks within global ship financing. Greece is the world's largest shipping nation, and DnB NOR already has a significant number of Greek clients. 'The opening of an office in Piraeus will create a stronger platform for further growth in both the Greek and international shipping markets,' says Leif Teksum. India The office in Mumbai will primarily serve clients within shipping and energy. 'India is a rapidly growing economy, and over the last five years GDP growth has averaged approximately 7.8 per cent. DnB NOR already serves Indian-based companies within shipping, offshore, logistics and energy. An increasing number of Norwegian companies are establishing themselves in India and making investments in DnB NOR's core competence areas,' says Leif Teksum. Chile The office in Chile will primarily serve clients within the fisheries and aquaculture sector, but also within shipping and energy in Chile and neighbouring areas. 'DnB NOR currently has a representative in Brazil and Chile who serves the bank's clients in South America. A branch office will now be opened in Chile while the representation in Brazil will continue as today. The establishment of a branch office in Santiago is subject to approval from the governing bodies in DnB NOR Bank ASA and from the supervisory authorities in Norway. The new establishments are conditional on approval from the respective countries' authorities and are planned to be in place in the course of 2008.

DnB NOR Finans will become one of the key providers of car financing in Scandinavia after acquiring SkandiaBanken Bilfinans' operations in Sweden and Norway. 'We will purchase a portfolio of 115 000 customer contracts and a total credit portfolio of NOK 11 billion,' says Stein Ove Steffensen, managing director of DnB NOR Finans. Complete statement on www.newsweb.no DnB NOR Finans will become one of the key providers of car financing in Scandinavia after acquiring SkandiaBanken Bilfinans' operations in Sweden and Norway. 'We will purchase a portfolio of 115 000 customer contracts and a total credit portfolio of NOK 11 billion,' says Stein Ove Steffensen, managing director of DnB NOR Finans. The purchase price is about NOK 1.9 billion, corresponding to 2.2 times implicit risk-adjusted capital. Over the past six months, DnB NOR has purchased SEB's vendor-based car financing operations and the real estate brokerage chain Svensk Fastighetsförmedling, and presented a bid for the distribution company SalusAnsvar. The acquisition of SkandiaBanken Bilfinans may thus become the fourth bolt-on acquisition by DnB NOR in Sweden within a short period. Priority area 'Car financing for private individuals and companies is a core business for DnB NOR Finans and a priority area for the DnB NOR Group. This acquisition is also a further manifestation of our determination to create a full-service financial services group in Sweden,' says Rune Bjerke, group chief executive of DnB NOR. DnB NOR Finans offers products within loans, leasing and fleet management in Norway and Sweden. Upon the completion of this transaction, DnB NOR Finans will have a financing portfolio of some 250 000 vehicles. Market shares within car financing will be around 30 per cent in Norway and just below 20 per cent in Sweden. Growth and competence SkandiaBanken Bilfinans has achieved average annual growth in business volumes of 19 per cent in Norway and 11 per cent in Sweden since 1998. The operations to be acquired have some 120 employees. DnB NOR Finans is Norway's largest finance company and a wholly-owned subsidiary of DnB NOR Bank ASA. The company operates from 14 locations in Norway, as well as from Stockholm, Gothenburg and Copenhagen. Following the acquisition, the company will have total assets of NOK 45 billion, 300 000 customer contracts, annual factoring turnover NOK 60 billion, and employ close to 650 persons. Most of the employees of both DnB NOR Finans and SkandiaBanken working within car financing operations in Norway, are located in Bergen. 'Both organisations are marked by a strong sales drive, close relations to car dealers, and satisfied customers. Economies of scale and the exchange of skills and web solutions will further strengthen this position,' says Steffensen. The transaction is expected to increase earnings per share marginally, and the profitability of the operation will meet DnB NOR's return on investment requirement. The transaction will be completed during the first half of 2008, conditional on approval by Swedish and Norwegian authorities.

DnB NOR Boligkreditt AS

Supplementary Information for Investors and Analysts

2007 Third Quarter Results

Financial highlights

Second quarter 2007
· Pre-tax operating profits before write-downs were up 21.2 per cent to NOK 3.5 billion (2.9)
· Profits were NOK 2.5 billion (2.4)
· Expenses were reduced to 48.9 per cent of income (51.8)
· Return on equity was 17.2 per cent (19.0)
· The core capital ratio was 7.3 per cent (7.2)

First half 2007
· Pre-tax operating profits before write-downs were up 12.5 per cent to NOK 6.9 billion (6.1)
· Profits were NOK 4.9 billion (4.9)
· Expenses were reduced to 49.2 per cent of income (50.1)
· Return on equity was 17.4 per cent (19.5)
· The core capital ratio was 7.3 per cent (7.2)

2007 Third Quarter Results

Rune Bjerke, President and CEO in DnB NOR, has November 1, 2007 bought 10.000 shares in DnB NOR ASA at a share price of NOK 89,70. After this transaction Rune Bjerke owns 10.064 shares in DnB NOR ASA.

Financial highlights

Third quarter 2007
· Pre-tax operating profits before write-downs were up 9.5 per cent to NOK 3.7 billion (3.4)
· Profit for the period increased by 35.3 per cent to NOK 3.7 billion (2.7)
· Return on equity was 21.8 per cent (18.0)
· Expenses represented 51.3 per cent of income (50.9)
· The core capital ratio, including 50 per cent of interim profits, was 7.2 per cent (6.7)

January-September 2007
· Pre-tax operating profits before write-downs were up 10.0 per cent to NOK 11.5 billion
(10.5)
· Profit for the period increased by 18.2 per cent to NOK 9.9 billion (8.4)
· Return on equity was 19.8 per cent (18.8)
· Expenses represented 50.1 per cent of income (49.9)
· The core capital ratio, including 50 per cent of interim profits, was 7.2 per cent (6.7)