Mandatory notification of trade

Stavanger, 8 March 2011: The board of Norwegian Energy Company (Noreco) has in
accordance with Noreco´s option scheme decided to issue employee share options.

A total of 4 279 384 options have been issued, each with a strike price of NOK
8.04 per share. The options may be exercised during a period from 3 to 5 years
from the date of grant.

The following primary insiders have received share options:

Name - number of options - new balance options - shares
Kjetil Bakken - 169652 - 259024 - 55416
John Bogen - 175835 - 329292 - 88582
Erik Borg - 65484 - 190289 - 11128
Ellen Sandra Bratland - 184080 - 359771 - 61010
Simon Campbell - 74627 - 210598 - 101698
Lars Fosvold - 184080 - 423326 - 136111
Einar Gjelsvik - 325780 - 696902 - 129993
Ørjan Gjerde - 169652 - 169652 - 60000
Liselotte Kiørboe - 59690 - 147148 - 18331
Odd Kjørholt - 72139 - 204325 - 49610
Bård Lærum - 67910 - 185298 - 54329

Contact:
Kjetil Bakken, VP Investor Relations ([phone])

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: NORECO via Thomson Reuters ONE

[HUG#1592562]

Wertpapiere des Artikels:
NO0010379266