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Annual report 2007

Shareholders in DnB NOR ASA are invited to attend the Annual General Meeting to be held at 6.00 pm on Wednesday, 30 April 2008 at DnB NOR's premises in Kirkegt. 21, Oslo, Norway. Please find attached the Notice of Annual General Meeting in DnB NOR ASA.

The rating agency Standard & Poor's has raised its long-term rating of DnB NOR Bank ASA to AA- from A+. The short-term rating has been raised to A-1+ from A-1. The upgrade reflects the bank's sustained profitability, leading market position in Norway, conservative risk profile and controlled expansion outside its home market. Strong emphasis has also been placed on DnB NOR's sound level of capitalisation and competent risk management.

DnB NOR Boligkreditt AS

Supplementary Information for Investors and Analysts

2008 First Quarter Results

DnB NOR Bank ASA

Financial highlights

First quarter 2008
· Pre-tax operating profits before write-downs were NOK 1.5 billion (3.8)
· Profit for the period was NOK 1.1 billion (2.9)
· Return on equity was 5.7 per cent (17.2)
· Earnings per share were NOK 0.79 (2.11)
· Expenses represented 74.3 per cent of income (49.8)
· The core capital ratio, including 50 per cent of interim profits, was 7.0 per cent (7.6)