Stock exchange notice: Offer to repurchase Norwegian bonds

11.11.2004 08.07 | stock exchange information

(Oslo, 11 November 2004) Statkraft SF is making a repurchase offer to the holders of the two bond issues STAKR01 (ISIN NO 001 016710.9) and STAKR03 (ISIN 001 016705.9). The enterprise intends to repurchase up to NOK 4,000,000,000 in aggregate in the two bond issues, but reserves the right to accept any volume exceeding this limit. If the offer is over-subscribed compared to the volume Stakraft is willing to accept, purchases will be made on a pro-rata basis.

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 (ticker codes: STAKR01, STAKR03 and STAKR07). Statkraft's annual and quarterly reports are available on
Senior Vice president IR Lisbeth Lindberg, tel: +47 24 06 72 86/+47 995 23 150