DnB NOR launches a new web site in Norwegian and English to support the DnB NOR Group's new role and strong position in the Norwegian financial market. Yesterday, 4 December 2003, DnB NOR was formally established as a financial services group. Today, DnB NOR has been listed under its new name on Oslo Børs (the Oslo Stock Exchange). DnB NOR launches a new web site in Norwegian and English to support the DnB NOR Group's new role and strong position in the Norwegian financial market. Yesterday, 4 December 2003, DnB NOR was formally established as a financial services group. Today, DnB NOR has been listed under its new name on Oslo Børs (the Oslo Stock Exchange). The new web site initially targets investors, the press and others requiring current and updated information on the DnB NOR Group. The web site will include practical and useful information about financial aspects, management, governing bodies, contact persons for investors, analysts and the press, as well as information about sponsoring, the trainee programme and a range of other subjects. The pages will be continually updated and expanded in step with developments in the DnB NOR Group. Other web sites and customer portals in the DnB NOR Group include DnB.no, gjensidigenor.no, vital.no, postbanken.no, nordlandsbanken.no and cresco.no.

Se announcement issued at 8:12. Oslo Børs has decided on the basis of this announcement to cease special observation of DNB NOR.

Reference is made to the letter from the Ministry of http://www.newsweb.no/index.asp?melding_ID=87468 Finance dated 28 November 2003, granting a concession for a merger between Den norske Bank ASA and Union Bank of Norway ASA. According to the letter, the merger between the two banks cannot be implemented until the Ministry has considered whether a decision should be made concerning the duty to pay a fee etc. to the relevant Guarantee Fund pursuant to Section 2-9, third paragraph, of the Guarantee Schemes Act. Reference is made to the letter from the Ministry of Finance dated 28 November 2003, granting a concession for a merger between Den norske Bank ASA and Union Bank of Norway ASA. According to the letter, the merger between the two banks cannot be implemented until the Ministry has considered whether a decision should be made concerning the duty to pay a fee etc. to the relevant Guarantee Fund pursuant to Section 2-9, third paragraph, of the Guarantee Schemes Act. According to a letter dated 19 December 2003, the Ministry of Finance has considered the matter and gives its approval to the implementation of the merger prior to the combination of the Guarantee Funds without payment of additional fees on the following terms: DnB NOR Bank ASA is required to issue a guarantee to the Savings Banks' Guarantee Fund corresponding to the increase in the Fund's liabilities resulting from the merger between Den norske Bank ASA and Union Bank of Norway ASA. The guarantee can only be exercised after the paid-in capital has been used and the ordinary guarantee liabilities pursuant to the Guarantee Schemes Act have been met. A further condition is that the Commercial Banks' Guarantee Fund must issue an irrevocable guarantee to the Savings Banks' Guarantee Fund for an amount corresponding to minimum three times the ordinary fee payable by Den norske Bank ASA in 2004 if the bank had still been a member of the Commercial Banks' Guarantee Fund.

Restated 2004 figures

The merger between Union Bank of Norway ASA and Den norske http://www.newsweb.no/index.asp?melding_ID=88093 Bank ASA, both wholly-owned subsidiaries of DnB NOR ASA, was registered in the Register of Business Enterprises today, 19 January 2004. As of the same date, the merged bank will change its name to DnB NOR Bank ASA. The merger between Union Bank of Norway ASA and Den norske Bank ASA, both wholly-owned subsidiaries of DnB NOR ASA, was registered in the Register of Business Enterprises today, 19 January 2004. As of the same date, the merged bank will change its name to DnB NOR Bank ASA. Union Bank of Norway ASA is the acquiring company in the merger. All assets, rights and obligations of Den norske Bank ASA were transferred to DnB NOR Bank ASA at the time of registration in the Register of Business Enterprises. Bonds issued by Den norske Bank ASA will continue as bonds in DnB NOR Bank ASA.

The merger between Union Bank of Norway ASA and Den norske http://www.newsweb.no/index.asp?melding_ID=88093 Bank ASA, both wholly-owned subsidiaries of DnB NOR ASA, was registered in the Register of Business Enterprises today, 19 January 2004. As of the same date, the merged bank will change its name to DnB NOR Bank ASA. The merger between Union Bank of Norway ASA and Den norske Bank ASA, both wholly-owned subsidiaries of DnB NOR ASA, was registered in the Register of Business Enterprises today, 19 January 2004. As of the same date, the merged bank will change its name to DnB NOR Bank ASA. Union Bank of Norway ASA is the acquiring company in the merger. All assets, rights and obligations of Den norske Bank ASA were transferred to DnB NOR Bank ASA at the time of registration in the Register of Business Enterprises. Bonds issued by Den norske Bank ASA will continue as bonds in DnB NOR Bank ASA.

The Government Bank Investment Fund has today acquired 517 300 shares in DnB NOR ASA. After the acquition, the Government Bank Investment Fund has 436 342 678 shares in DnB NOR ASA , representing 33 1/3 % of the capital and votes in DnB NOR ASA.In December 2003 the Government Bank Investment Fund acquired 42 596 519 shares in DnB NOR ASA, and so far this year the Fund has bought 25 988 264 shares in the Company. The Government Bank Investment Fund intend to hold 34 % ownership in DnB NOR ASA within the end of this year. http://www.newsweb.no/index.asp?melding_ID=88967

In connection with the merger between DnB Holding and http://www.newsweb.no/index.asp?melding_ID=89092 Gjensidige NOR, additional accounting information on a pro forma basis has been prepared for the DnB NOR Group, presenting figures for 2001 and 2002 as well as quarterly figures for the last four quarters, up till and including the third quarter of 2003. This is intended to give investors and analysts a better understanding of the financial position of the merged group in previous periods. In connection with the merger between DnB Holding and Gjensidige NOR, additional accounting information on a pro forma basis has been prepared for the DnB NOR Group, presenting figures for 2001 and 2002 as well as quarterly figures for the last four quarters, up till and including the third quarter of 2003. This is intended to give investors and analysts a better understanding of the financial position of the merged group in previous periods. Any deviations in the material presented relative to pro forma figures released previously have been explained. Preliminary figures for the fourth quarter of 2003 and annual figures for 2003 will be released and presented in the market on 26 February 2004. Attachments on www.newsweb.no

Subscription rights programme for employees in the former DnB Two-thirds of the subscription rights issued to employees in DnB Holding ASA in accordance with a resolution passed at the Annual General Meeting on 27 April 2000 can be exercised during the period from 1 through 15 March 2004 at a price of 32.83 per share. As at 26 February 2004, there were 26.4 million subscription rights outstanding, entitling holders to subscribe for a total of 26.4 million DnB NOR shares. Two-thirds of the subscription rights issued to employees in DnB Holding ASA in accordance with a resolution passed at the Annual General Meeting on 27 April 2000 can be exercised during the period from 1 through 15 March 2004 at a price of 32.83 per share. As at 26 February 2004, there were 26.4 million subscription rights outstanding, entitling holders to subscribe for a total of 26.4 million DnB NOR shares. According to the terms for the subscription rights, the effective return on the DnB share during the period from 27 April to the period 17 to 23 February 2004 must exceed the unweighted average of the effective returns on shares/primary capital certificates in Svenska Handelsbanken, SEB, Nordea, Danske Bank, Sparebanken Midt- Norge and Gjensidige NOR. At a meeting on 25 February 2004, the Board of Directors in DnB NOR ASA confirmed that this condition for excercising the subscription rights has been fulfilled. Against this background, the holders of subscription rights can exercise maximum 17.6 million subscription rights during the period from 1 through 15 March 2004, which will increase the number of shares in the company by 1.33 per cent and strenghten core capital by 0.1 percentage points. According to the terms, holders of subscription rights have the option to postpone exercising the subscription rights until the period from 1 through 15 March 2005.

Supplementary Information for Investors and Analysts 2003