SOURCE: Norsk Hydro

March 14, 2008 07:44 ET

Annual reporting 2007: Aluminium. All the way

OSLO, NORWAY--(Marketwire - March 14, 2008) -


Oslo (2008-03-14): "Hydro has been through some major changes, and the biggest of them all took place in 2007. By processing natural resources in innovative and efficient ways, Hydro has helped to create more viable societies for more than a century. We will continue to do so as an aluminium company," Hydro President and CEO Eivind Reiten says in the company's annual reporting, published on Hydro's internet site www.hydro.com on Friday.

Hydro's 2007 annual reporting contains three separate documents with different level of detail.

"It's no wonder the future looks so bright. The material we produce lasts forever. We have faith in the future and are confident our projects will bring us further," Reiten says in his letter to shareholders.

Hydro's main report for 2007 is the "Annual Report - 2007", which includes detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance and financial statements. The report is available in English.

In addition, two reporting documents have been prepared specifically for distribution to shareholders: "Financial Statements and Board of Directors' Report - 2007", and "2007 - in brief". The first report fulfils the Norwegian statutory requirements to annual reporting and contains the Board of Directors' Report and Financial Statements, while the latter is a short summary of Hydro's results and performance in 2007. These reports are available in both English and Norwegian.

Hydro's main reporting on viability performance is included in the "Annual Report - 2007", with additional details on www.hydro.com/annualreporting2007.

The full content of the three reports is presented at www.hydro.com/annualreporting2007, with supplementary information. Hard copies of all reports can be ordered from this website, and all parts of the reports can be downloaded and printed in PDF format, on demand.

Shareholders registered directly in the Norwegian Central Securities Depository (VPS) will automatically receive hard copies of "Financial Statements and Board of Directors' Report - 2007" and "2007 - in brief". Other shareholders and stakeholders may request a hard copy of any of Hydro's 2007 reports at www.hydro.com/annualreporting2007 free of charge. Distribution of the hard copies will start in the first half of April.

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Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Press contact
Contact     Inger Sethov
Telephone   +47 22532036
Cellular    +47 95022359
E-mail      Inger.Sethov@hydro.com

Investor contact
Contact     Stefan Solberg
Telephone   +47 22539280
Cellular    +47 91727528
E-mail      Stefan.Solberg@hydro.com

Norsk Hydro ASA
Drammensveien 264
N-0240 Oslo
Norway
Telephone: +47 22538100
Fax: +47 22532725
www.hydro.com

Annual Report 2007: http://hugin.info/106/R/1201164/245592.pdf

2007 in brief: http://hugin.info/106/R/1201164/245590.pdf

Financial Statements and Board of Directors' Report 2007: http://hugin.info/106/R/1201164/245591.pdf



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