Stock and press releases

DnB NOR will reassign responsibilities as Bente A. Landsnes, group executive vice president and a member of the group management team, will resign from the Group to become president and CEO of Oslo Børs. DnB NOR will reassign responsibilities as Bente A. Landsnes, group executive vice president and a member of the group management team, will resign from the Group to become president and CEO of Oslo Børs. Leif Teksum, group executive vice president, will take over responsibility for payment services in addition his current responsibilities as head of Corporate Banking. Helge Forfang, group executive vice president, will be responsible for IT while retaining his current responsibilities as head of risk management. The changes will take effect as of 19 September 2005.

Second quarter 2005 · Profits after taxes rose 30 per cent to NOK 2 440 million (NOK 1 876 million in the second quarter of 2004) · The cost/income ratio was reduced to 52.6 per cent (55.7) · Return on equity came to 18.6 per cent (16.4) · Earnings per share were NOK 1.82 (1.42) · The core capital ratio at end-June rose to 7.5 per cent (7.2) Attachment on www.newsweb.no Second quarter 2005 · Profits after taxes rose 30 per cent to NOK 2 440 million (NOK 1 876 million in the second quarter of 2004) · The cost/income ratio was reduced to 52.6 per cent (55.7) · Return on equity came to 18.6 per cent (16.4) · Earnings per share were NOK 1.82 (1.42) · The core capital ratio at end-June rose to 7.5 per cent (7.2) First half 2005 · Profits after taxes rose 15.5 per cent to NOK 4 414 million (NOK 3 822 million in the first half of 2004) · The cost/income ratio was reduced to 53.2 per cent (57.7) · Return on equity came to 17.0 per cent (16.5) · Earnings per share were NOK 3.30 (2.90) Comments by group chief executive Svein Aaser: 'It is a pleasure for me to present the best figures in the history of the Group. This has not just happened, but can be attributed not least to the committed and systematic efforts of all of the Group's employees over a long period.' 'During a period when competition in financial markets has been stronger than ever and spreads, as anticipated, have been under pressure, there has nonetheless been an increase in total income. This shows that diversity and a broad distribution are DnB NOR's strengths. I am also pleased to note the renewed growth in corporate market activity, especially within shipping, which is our key international focus area,' says Aaser. 'Write-downs on loans are at a low level. Though this partly reflects the current healthy Norwegian economy, it is not least due to long-term, professional risk management. We have cut costs wherever we can, and this process will continue in the next quarters,' he says. 'All branches have now been reprofiled. The new design, along with new customer loyalty programmes, has been well received by customers. Customers also benefit from the merger through better interest rate terms, which has led to an appreciable increase in market competition. The merger is on schedule, and integration efforts are progressing as planned,' says group chief executive Svein Aaser. Results are reported in accordance with international accounting principles (IFRS). The transition to IFRS has no impact on the formal core capital ratio. The second quarter report, including tables, can be downloaded from www.dnbnor.com. Press release, second quarter report, presentation and Supplementary Informastion for Investors and Analysts can be found on www.newsweb.no http://www.newsweb.no/index.asp?melding_ID=111692

Second quarter 2005 · Profits after taxes rose 30 per cent to NOK 2 440 million (NOK 1 876 million in the second quarter of 2004) · The cost/income ratio was reduced to 52.6 per cent (55.7) · Return on equity came to 18.6 per cent (16.4) · Earnings per share were NOK 1.82 (1.42) · The core capital ratio at end-June rose to 7.5 per cent (7.2) Attachment on www.newsweb.no Second quarter 2005 · Profits after taxes rose 30 per cent to NOK 2 440 million (NOK 1 876 million in the second quarter of 2004) · The cost/income ratio was reduced to 52.6 per cent (55.7) · Return on equity came to 18.6 per cent (16.4) · Earnings per share were NOK 1.82 (1.42) · The core capital ratio at end-June rose to 7.5 per cent (7.2) First half 2005 · Profits after taxes rose 15.5 per cent to NOK 4 414 million (NOK 3 822 million in the first half of 2004) · The cost/income ratio was reduced to 53.2 per cent (57.7) · Return on equity came to 17.0 per cent (16.5) · Earnings per share were NOK 3.30 (2.90) Comments by group chief executive Svein Aaser: 'It is a pleasure for me to present the best figures in the history of the Group. This has not just happened, but can be attributed not least to the committed and systematic efforts of all of the Group's employees over a long period.' 'During a period when competition in financial markets has been stronger than ever and spreads, as anticipated, have been under pressure, there has nonetheless been an increase in total income. This shows that diversity and a broad distribution are DnB NOR's strengths. I am also pleased to note the renewed growth in corporate market activity, especially within shipping, which is our key international focus area,' says Aaser. 'Write-downs on loans are at a low level. Though this partly reflects the current healthy Norwegian economy, it is not least due to long-term, professional risk management. We have cut costs wherever we can, and this process will continue in the next quarters,' he says. 'All branches have now been reprofiled. The new design, along with new customer loyalty programmes, has been well received by customers. Customers also benefit from the merger through better interest rate terms, which has led to an appreciable increase in market competition. The merger is on schedule, and integration efforts are progressing as planned,' says group chief executive Svein Aaser. Results are reported in accordance with international accounting principles (IFRS). The transition to IFRS has no impact on the formal core capital ratio. The second quarter report, including tables, can be downloaded from www.dnbnor.com. Press release, second quarter report, presentation and Supplementary Informastion for Investors and Analysts can be found on www.newsweb.no

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DnB NOR Bank ASA

Supplementary Information for Investors and Analysts

2005 Second Quarter Results