Privatisation sale of shares in Oslo Exchanges - indicative price range announced

Shares in Oslo Børs Holding ASA are to be sold through a public Share Offer over the period 8-21 May 2001. The Board of Oslo Exchanges has decided on the indicative price interval for the Share Offer. The share price is expected to be between NOK 75 and NOK 95per share, valuing the equity capital of Oslo Exchanges at between NOK 375 million and NOK 475 million. The final price will be determined by the level of demand for the shares in the offer period on the basis of what is known as book building. The prospectus for the Share Offer will be available throughout the application period from the managers for the Share Offer, Orkla Enskilda Securities ASA and Christiania Markets. Following the conversion to a public limited company on 22 May 2001, Oslo Børs ASA will in all respects be a continuation of Oslo Exchanges. The conversion will accordingly not cause any practical changes for investors, listed companies, investment firms or any other parties that have dealings with Oslo Exchanges. In formal terms the Share Offer represents a sale by Oslo Exchanges in its current form as a self-owning institution of the entire share capital of the new company Oslo Børs Holding ASA. The sole activity of Oslo Børs Holding ASA will be its ownership of 100% of the shares in Oslo Exchanges in its new form as Oslo Børs ASA, a public limited company. The President and Chief Executive Officer of Oslo Exchanges, Sven Arild Andersen, comments on the conversion as follows: "The conversion to a public limited company gives us the modern and commercial organisational form needed to create an efficient marketplace that is well equipped for future change. This provides as with the basis for further development to meet the demands that Norwegian companies, savers and the financial sector will place on our future activities. I hope that through the Share Offer we will attract shareholders who can contribute to this process."