SOURCE: Statoil ASA

April 17, 2007 03:52 ET

Changes in the corporate executive committee of Statoil ASA

STAVANGER, NORWAY -- (MARKET WIRE) -- April 17, 2007 --


Nina Udnes Tronstad (48), executive vice president for health, safety and the environment (HSE), is to withdraw from Statoil's (OSE: STL, NYSE: STO) corporate executive committee as of 1 June. She is to take up the position as managing director of Aker Kvaerner Verdal on 1 September.

Ms Udnes Tronstad joined Statoil in 1983 and she has held a number of managerial posts, including at the group's Danish and Swedish subsidiaries. She has been the group's vice president for information technology and operations vice president for the development phase of the technically challenging Kristin field. She has been a member of Statoil's corporate executive committee with responsibility for HSE since April 2005.

"Nina has a long and sound career behind her in Statoil," says chief executive Helge Lund.

"She has worked in several areas, in operational activities as well as within staff and support functions. Nina has shown her ability to create results across a wide spectrum. Now that she has chosen to seek new challenges outside Statoil, I extend my thanks to her for the work she has done for the group and I wish her the best of luck with the challenges ahead."

Disclaimer:

This document 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. Norsk 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 Norsk Hydro's shareholders in the United States.

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