Stock and press releases

Financial highlights

Fourth quarter 2007
· Pre-tax operating profits before write-downs were down 1.2 per cent to NOK 3.2 billion (3.2)
· Profit for the period increased by 60.7 per cent to NOK 3.7 billion (2.3)
· Return on equity was 24.6 per cent (16.7)
· Expenses represented 51.3 per cent of income (49.8)
· The core capital ratio was 7.9 per cent (6.8)

Full year 2007
· Pre-tax operating profits before write-downs were up 6.4 per cent to NOK 13.1 billion (12.3)
· Profit for the year increased by 18.6 per cent to NOK 11.4 billion (9.6)
· Return on equity was 19.7 per cent (18.2)
· Expenses represented 50.6 per cent of income (50.1)
· The core capital ratio was 7.9 per cent (6.8)

Supplementary Information for Investors and Analysts

Full Year Results 2007

DnB NOR Boligkreditt AS

Ottar Ertzeid, Group Executive Vice President in DnB NOR and Head of DnB NOR Markets, has 14 February 2008 bought 15 000 shares in DnB NOR ASA at a share price of NOK 75.70. After this transaction, Ottar Ertzeid owns 39 995 shares in DNB NOR ASA.

Bjørn Erik Næss (53) has been appointed group executive vice president and new CFO in DnB NOR. He will join the Group at the beginning of March 2008, leaving his current position as EVP and CFO in Aker Kværner ASA. He has previously held corresponding positions in Carlsberg and Orkla. 'Bjørn Erik Næss has broad expertise, and his experience from international operations will be of great value to DnB NOR in the future. I am therefore delighted that he agreed to take over as CFO when deputy CEO Tom Grøndahl expressed his wish to wind down,' says group chief executive Rune Bjerke. 'I am really looking forward to getting started. Still, I must add that I will be leaving a very good workplace,' says Bjørn Erik Næss. 'To me, this is an exciting challenge, and it will be interesting to sit on the other side of the table after being a customer for close to 30 years. I have many years of management and professional experience from leading Norwegian and international companies. At the same time, I have great respect for all the new things I will now have to relate to,' says Næss. Næss is a graduate of the Norwegian School of Economics and Business Administration in Bergen and completed an executive programme at Darden Business School in the USA.

Tom Grøndahl, deputy CEO and CFO, has decided to wind down after ten years as CFO and a total of twenty years in the DnB NOR Group. Grøndahl will work on various projects for the group chief executive and continue to hold board positions up until he reaches 60, his contractual retirement age, in June 2009. Group chief executive Rune Bjerke says he is grateful that Tom Grøndahl remained in his position after the change of CEO a year ago and thus ensured continuity in the group management team. 'Based on his long-term experience and extensive competence, Tom has been of invaluable support to me during my first year as group chief executive. He has made a tremendous effort for the Group over many years. After such long and faithful service, I have to respect his wish to wind down. I am pleased that he will continue to benefit the Group with his skills for some time,' says group chief executive Rune Bjerke. Tom Grøndahl can look back on 33 years in the financial services industry, the past twenty years in DnB NOR and its predecessors Bergen Bank and DnB. 'My life situation has changed, not allowing room for the workload and the extensive travelling required in the position as deputy CEO and CFO,' explains Tom Grøndahl.