The offer is valid until 11:00 a.m., Oslo time, on 24 November 2004. Final terms will be fixed at 12:00 noon, Oslo time, on the same day, and settlement will take place on
30 November 2004.
Statkraft AS also informs that the company, in conjunction with the repurchase offer, is making two new bond issues, both with 10 year maturities.
Statkraft has given mandates to DnB NOR Markets and Nordea Markets, as arrangers for both transactions. Please contact one of these arrangers for more details and information.
A short description of the terms and conditions for the buy-back offer is available on www.newsweb.no (ticker codes: STAKR01, STAKR03 and STAKR07). Statkraft's annual and quarterly reports are available on www.statkraft.com.
Contacts:
Senior Vice president IR Lisbeth Lindberg, tel: +47 24 06 72 86/+47 995 23 150