StatoilHydro – plan for completion of the merger

The merger between Statoil ASA and Norsk Hydro ASA's petroleum business is expected to be implemented on 1 October, 2007. As announced by Hydro on 12 September this year, the following is confirmed:

The completion of the merger is expected to take place before the opening of the markets in Oslo on Monday 1 October. As a result, this will be the first day of trading in the StatoilHydro share. Consequently, Friday 28 September, will be the last day that the Hydro shares will trade inclusive of the right to receive Statoil shares.

Each Hydro shareholder will receive Statoil shares based on their shareholder holdings registered at the Norwegian Central Securities Depository (VPS) on 3 October 2007, that is, reflecting trading undertaken on 28 September with settlement on a T+3 basis.

One share in Hydro entitles the shareholder to 0.8622 shares in StatoilHydro ASA. Fractions of shares will not be issued. Fractional shares will be aggregated into whole shares and sold in the market. The net proceeds, i.e. the selling price after deduction of accrued costs in connection with the transaction, will be distributed proportionally between those shareholders entitled to fractions.

The consideration shares will be delivered to Hydro's shareholders via the VPS on 3 October 2007 and will be available on investors' accounts on 4 October 2007. Any relevant cash proceeds for fractions of shares are expected to be paid on 11 October 2007.

Following the merger Hydro will continue as a focused aluminium company and have a share capital of NOK 1,370,256,730 consisting of 1,247,956,949 issued and authorized shares at par value of NOK 1.098 per share. Hydro will hold 38,652,570 own shares and the number of shares outstanding will be 1,209,304,379.

The NHY ticker code and ISIN number NO0005052605 remain unchanged.

A new stock exchange announcement will be published on 1 October 2007.