SOURCE: Statoil ASA

May 29, 2007 03:37 ET

Statoil: Merger prospectus declared effective

STAVANGER, NORWAY--(Marketwire - May 29, 2007) -



Statoil's (OSE:STL, NYSE:STO) registration statement on Form F-4, which includes the prospectus relating to the planned merger of Norsk Hydro's petroleum business with Statoil, was declared effective by the US Securities and Exchange Commission (SEC) on Friday 25 May at 17.00 EST (23.00 CET).

The prospectus is attached to this message.

The prospectus will be sent to all US shareholders in Statoil and Hydro along with the notices of extraordinary general meetings which will discuss the merger plan. Along with the notice of meeting, all other shareholders will receive a prospectus which is identical to the one sent to US shareholders, with the exception of certain additions and omissions pursuant to stock exchange and securities regulations in Norway. Both versions of the prospectus are available on Statoil's website: www.statoil.com/egm

Further information:

Press
Ola Morten Aanestad, vice president media relations, Statoil ASA,
telephone +47 480 80 212/51 99 13 77

Investor relations
Lars Troen Sørensen, senior vice president investor relations,
Statoil, telephone +47 90 64 91 44

Geir Bjørnstad, vice president, US investor relations, Statoil,
telephone +1 203 978 69 50
Disclaimer:

This press release does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.

An offer of securities in the United States pursuant to a business combination transaction will only be made through a prospectus which is part of an effective registration statement filed with the US Securities and Exchange Commission. Hydro shareholders who are US persons or are located in the United States are advised to read the registration statement when and if it is declared effective by the US Securities and Exchange Commission because it will contain important information relating to the proposed transaction. You will be able to inspect and copy the registration statement relating to the proposed transaction and documents incorporated by reference at the SEC's Public Reference Room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Statoil's SEC filings are also available to the public at the SEC's web site at http://www.sec.gov. In addition Statoil will make the effective registration statement available for free to Hydro shareholders in the United States.





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