GUIDE to the NORWEGIAN STOCK MARKET 2007 Design: Dinamo Red

GUIDE TO THE NORWEGIAN ST OCK MARKET 2007 www.oslobors.no www.osloaxess.no www.abmportal.no

Oslo Børs ASA • P.O Box 460 Sentrum • N-0105 Oslo • Norway Visitors address: Tollbugata 2 Tel: +47 22 34 17 00 • Fax: +47 22 34 19 25 GUIDE TO THE NORWEGIAN STOCK MARKET 2007 Design: Dinamo Red. • Foto: Getty Images og Christian Houge • Trykk: Kampen Grafisk et es ates esentations ogy etionary es ation Servic echnol e ee o – Sector pr ommunic Tw gy x c ormation T le Utilities Primary Capital Certific Part Thr Inde Part One About the Norwegian stock mark Part Ener Materials Industrials Consumer Discr Consumer Stapl Health Car Financials Inf Te 187

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About Oslo Børs

About Oslo Børs Oslo Børs was founded in 1819 and is the only regulated market place for securities trading in Norway. Oslo Børs was privatised in 2001 when Oslo Børs Holding ASA was incorporated. This company owns 100% of the share capital of Oslo Børs ASA, which in turn operates the marketplace. Oslo Børs has been a member of the NOREX stock exchange alliance since 2000, and this has helped to encourage a sizeable increase in international interest in the Norwegian securities market. The Oslo Børs marketplace offers trading in shares, primary capital certificates, warrants, bonds and other fixed-income securities, and derivatives.

NOREX Alliance NOREX was established in June 1997, and is a strategic alliance between the Nordic stock exchanges. It was the first stock exchange alliance to implement a joint system for equity trading and to harmonize rules and requirements between the exchanges with respect to trading and membership. This harmonization makes the region appear as one common marketplace. The Alliance consists of the exchanges in Oslo (Norway), Stockholm (Sweden), Helsinki (Finland), Copenhagen (Denmark) and Reykjavik (Iceland), as well as the three Baltic exchanges.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 3 The Equity Market

As of 31 December 2006, the total market capitalisation of companies listed on Oslo Børs amounted to NOK 1,916 billion (EURO 232 billion/USD 306 billion). At the end of 2006 a total of 229 companies were listed, with Energy as the largest sector both in terms of number of companies and market capitalisation.

Market capitalisation and number of companies by GICS sector (31 December 2006) NOK/EURO 8,238 NOK/USD 6,255

Sektor NOK EURO USD % Number of companies 10 Energy 1 022,6 124,1 163,5 53,4 64 15 Materials 73,7 8,9 11,8 3,8 9 20 Industrials 177,6 21,6 28,4 9,3 40 25 Consumer Discretionary 48,7 5,9 7,8 2,5 14 30 Consumer Staples 48,0 5,8 7,7 2,5 10 35 Health Care 6,4 0,8 1,0 0,3 13 40 Financials 187,3 22,7 29,9 9,8 16 45 Information Technology 110,2 13,4 17,6 5,8 39 50 Telecom Services 197,4 24,0 31,6 10,3 2 55 Utilities 26,6 3,2 4,2 1,4 2 PCC 17,4 2,1 2,8 0,9 20 Total 1 915,8 232,6 306,3 100,0 229

Top 15 companies ranked by market capitalisation: (All figures from year-end 2006, in billion)

Company Sector NOK EURO USD % Statoil Energy 358,0 43,5 57,2 17,9 Norsk Hydro Energy 248,9 30,2 39,8 12,5 Telenor Telecom Services 197,0 23,9 31,5 9,9 DnB NOR Financials 118,3 14,4 18,9 5,9 Orkla Industrials 73,5 8,9 11,8 3,7 Renewable Energy Corporation Information Technology 56,3 6,8 9,0 2,8 Royal Caribbean Cruises Consumer Discretionary 50,2 6,1 8,0 2,5 Yara International Materials 2,9 5,2 6,9 2,2 Aker Kværner Energy 42,8 5,2 6,8 2,1 SeaDrill Energy 40,3 4,9 6,4 2,0 Aker Energy 29,0 3,5 4,6 1,5 Petroleum Geo-Services Energy 26,4 3,2 4,2 1,3 Hafslund Utilities 23,5 2,9 3,8 1,2 Acergy Energy 23,4 2,8 3,7 1,2 Norske Skogindustrier Materials 20,4 2,5 3,3 1,0

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 4 Trading Activity

Trading activity has increased year by year. Average daily turnover in 2006 reached NOK 10.3 billion (EURO 1.25 billion/ USD 1.66 billion) per day, up 72% from 2005 and 187% from 2004. Total number of transactions also ended on a high with a daily average of 35,200 trades, up from 21,700 in 2005 and 13,500 in 2004. Energy is also the dominant sector in terms of trading volumes, with a market share of 65% for 2006 in total. Even though the Norwegian State controls 32% of the total Oslo market, the liquidity of shares listed on Oslo Børs compares very favourably with other stock markets.

Turnover velocity (%)

Nordic exchanges 2005 2006 Oslo Børs 127.52 155.39 OMX Stockholm Stock Exchange 124.14 146.85 OMX Helsinki Stock Exchange 123.75 132.17 OMX Copenhagen Stock Exchange 91.25 92.35 Iceland Stock Exchange 77.23 77.82

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 5 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 6 New Listings

With 22, 46 and 32 new listings during 2004, 2005 and 2006 respectively, Oslo Børs has been one of the most dynamic marketplaces internationally in recent years. In Europe, only London had more IPOs in real numbers in 2005, and in relative terms Oslo has done remar- kably well during this period. In 2006, 12 of the new companies were energy companies, while the remaining 20 new companies represented 8 of the other 9 industry sectors.

Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials IT Telecom Utilities

OSLO BØRS and OSLO AXESS Oslo Børs is implementing changes in its listing structure as from May 2007 when Oslo Axess, a new regulated market, is being introduced. The two markets will live side by side with Oslo Børs as the fully regulated stock exchange market and Oslo Axess as the equally regulated authorised market. Simultaneously, the distinction between the Main List and the SMB List in the stock exchange market will disappear.

Less stringent listing requirements will be the most dominant difference between the two markets, in particular related to length of history of the company and its operations, market capitalisation and number of shareholders. Oslo Axess will also welcome pre- commercial companies for listing.

All companies listed under the Oslo Børs umbrella, being it in the Oslo Børs market or in the Oslo Axess market, are subject to the same continuing obligations towards the market. Accordingly, all companies are subject to the same control mechanisms and market surveillance efforts imposed by the Exchange. Proper investor protection is imperative and is hence equally ensured for both markets.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 7 Investors

Investors Investor access to the Oslo market is provided by the brokerage firms and investment banks that are members of Oslo Børs. By year-end 2006, there were 52 such members, of which 28 were international remote members. See page 26 for a complete list of all members.

Non-Norwegian investors were involved in about 70% of all trading activity by volume at Oslo Børs in 2006. This market share has steadily increased from about 60% over the last few years. Approximately the same market share applies for subscription to new issues in the Norwegian market – international investors pick up a large proportion of the shares issued. The majority of this investment comes from institutional investors in the US and UK as well as from other European countries.

The Norwegian retail market is very active in relation to the number of investors. Trading over the internet, including DMA (Direct Market Access), is very popular with Norwegian investors, and accounts for a high proportion of trading by international comparison (about 40% of all transactions). Norway also has a large group of wealthy and active individuals investing their own capital.

Clusters

Competence and unique clusters Norwegian banks and investment firms have in-depth knowledge of the Oslo market and in particular the typically strong Norwegian sectors such as oil & gas, offshore oil service, shipping, fisheries & fish farming and IT. Nearly all the local members of Oslo Børs produce extensive research on these sectors and the individual stocks involved. They also offer corporate advice and M&A services at a very high level.

This is supported by the specialist sector expertise that characterises the lending activities of local banks, as well as the knowledge and expertise represented by consultants and independent advisors, legal and accounting firms and the Norwegian regulatory authori- ties.

All this stems from world-class companies operating and competing both locally and internationally. Norwegian technology and entrepreneurship has always been at the fore- front of these strong sectors, and this has led to unique clusters of businesses that are rarely seen elsewhere.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 8 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 9 Main features of the norwegian market

Listing structure and classification of companies All listed shares are categorised in terms of both how they are presented by Oslo Børs (a listing hierarchy) and by industry classification.

Liquidity categories Listed shares are allocated to categories based on their liquidity, with a separate category for primary capital certificates (PCCs). Allocation is based on historic share liquidity for the previous 6 months. Shares in each category are listed alphabetically. Categories are rebalanced every six months, in June and December respectively, following the cycle of the tradable OBX index. The Liquidity categories are as follows:

OBX Shares included in the OBX-index, normally 25 shares. OB Match Shares with a minimum of 10 trades per day on average (excl. OBX), or if the company has signed an Oslo Børs-approved market making agreement. OB Standard Shares with fewer than 10 trades per day on average. OB New Newly listed shares. OB Primary Capital Listed Primary Capital Certificates (PCCs) Certificates (instrument issued by savings bank).

Industry Classification (GICS) Companies listed on Oslo Børs are in addition categorised according to industry sectors. In common with the other exchanges in the NOREX Alliance, Oslo Børs uses the Global Industry Classification Standard (GICS), a global standard developed by Morgan Stanley Capital International Inc. and Standard & Poor’s.

GICS currently consists of 10 sectors, 24 industry groups, 67 industries and 147 sub-industries. Companies are classified according to their principal business activity, defined as where the major part of the company’s revenue is generated. PCCs are again classified as an individual group.

Oslo Axess Companies listed on Oslo Axess, as from May 2007, will not be presented in the Liquidity categories together with the Stock Exchange listed companies, but as one combined group for Oslo Axess. They will, however, be categorised according to the GICS model.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 10 Main features of the norwegian market

The Information Symbol and the English Symbol Companies that satisfy certain requirements regarding the breadth and manner for distribution of information are awarded the Information Symbol. The requirements can be divided into three main categories:

1 Availability of information on the company’s website A set of defined information criteria points must be made available and kept updated.

2 Presentations – real and electronic Companies are required to hold at least two public presentations annually, and at least two presentations annually must be made available electronically through the internet, e.g. as webcasts.

3 Prompt publication of interim reports At least three out of four interim reports must be made public no later than the 15th of the second month following the reporting period.

Companies that publish all the required information and deliver the required presentations in English are in addition awarded the English Symbol. The Information Symbol relates to the requirements themselves, while the English Symbol relates to the language used. Accordingly the English Symbol can only be awarded to a company that qualifies for the Information Symbol.

Both symbols must be applied for, and companies must continue to satisfy the requirements at all times in order to maintain the symbols.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 11 Companies with the Information Symbol and the English Symbol (as of 31 December 2006):

AF Gruppen AFG i Odfjell ODF/- i e APl APL i e ODFB Acta Holding ACTA i Opera Software OPERA i e Aker Kværner AKVER i e Orkla ORK i e Aker Yards AKY i e PSI Group PSI i Altinex ALX i Pan Fish PAN i e Apptix APP i e Petroleum Geo-Services PGS i e Biotec Pharmacon BIOTEC i PhotoCure PHO i e CanArgo Energy CNR i e Polimoon POLI i e Corporation Profdoc PRO i e Cermaq CEQ i e Prosafe PRS i e Consorte Group COGR i Renewable Energy REC i e Data Respons DAT i Corporation DnB NOR DNBNOR i e Rieber & Søn RIE i e EDB Business Partner EDBASA i e Schibsted SCH i e Ekornes EKO i e Sevan Marine SEVAN i e Eltek ELT i e Software Innovation SOI i e Ementor EME i e SpareBanken Vestfold VSBG i Exense EXE i Sparebanken Midt-Norge MING i Expert EXPERT i e Sparebanken Nord-Norge NONG i e Fast Search & Transfer FAST i e Sparebanken Rogaland ROGG i Hafslund HNA/HNB i e Statoil STL i e Hexagon Composites HEX i Storebrand STB i e I.M. Skaugen IMSK i e Storebrand STB i e Komplett KOM i e SuperOffice SUO i Kongsberg KOA TGS-NOPEC TGS i e Automotive Holding Geophysical Company Kongsberg Gruppen KOG i e Tandberg TAA i e Kverneland KVE i e Tandberg Storage TST i Lerøy Seafood Group lSG i e Tandberg Television TAT i e Mamut MAMUT i e Telenor TEL i e Natural NTL i Telio Holding TELIO i Nordic Semiconductor NOD i Tomra Systems TOM i e Norman NORMAN i e VMetro VME i e Norsk Hydro NHY i e Veidekke VEI i e Norske NSG i e Wilh. Wilhelmsen WWI/- i e Skogindustrier WWIB Ocean Rig OCR i e Yara International YAR i e

Oslo Børs TV Oslo Børs has taken an active role in gathering “all” webcast productions that are related to the financial market in Oslo. All listed companies at Oslo Børs are encouraged to publish their quarterly webcast presentations as well as other company presentations on www.oslobors.no at no extra cost to the company. Also industry specific presentations can be found here. The contents on Oslo Børs TV will be in constant development.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 12 Trading surveillance

Under Norwegian law, Oslo Børs is required to carry out a number of surveillance and control functions. Oslo Børs monitors all market activity on a continuous basis and also monitors the disclosure of information from listed companies to the market. Oslo Børs commits considerable resources to its surveillance of activity in the market. Monitoring the processes involved in price quotation for listed securities and intervening in trading where necessary represent an important part of ensuring the quality of the market, and are key to maintaining investor confidence in the Oslo market.

The trading surveillance function strives to protect investors and the integrity of the market in general, from any participant making use of information that is not publicly known or trading at improper prices in any other way. Surveillance is largely automated through use of the SMARTS system, which continually monitors trading and reports any unusual behaviour or anomalous developments in the market. In addition, Oslo Børs monitors the behaviour of market participants to ensure that they adhere to the rules on reporting and other matters that are important for the transparency of the market. SMARTS is used by all the Exchanges in the Nordic Region and there is an extensive cooperation between the exchanges on alert development and systemknowlegde.

Norwegian Corporate Governance in an International perspective

In Norway, representatives of the executive management are not normally elected to the board of directors. Under Norwegian company law, a company’s board of directors has both a controlling function and a management function in respect of the company’s activities and the executive managers of the company. The management function requires the board to play an active high-level role in matters that are of an extraordinary nature or of major importance and are therefore not a normal part of the day-to-day management of the company. The board’s management responsibility also includes drawing up strategies, budgets and guidelines for the company’s activities.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 13 Any comparison of the Norwegian Code of Practice with international codes of practice should take into account some principal features of Norwegian company law: • In the absence of any agreement with employees to the contrary, companies with more than 200 employees must elect a corporate assembly with at least 12 members of which 2/3 are elected by shareholders and 1/3 are elected by the employees. The main duty of the corporate assembly is the election of the board of directors. In addition, the corporate assembly has certain duties in respect of supervision, issuing opinions and decision- making. • In any company with more than 30 employees, the employees have the right to be represented on the board of directors. If a company has more than 200 employees but has not elected a corporate assembly, employees must be represented on the board. • The Norwegian Public Limited Liability Companies Act (hereinafter the “Public Companies Act”) stipulates that the chief executive of a company may not be the chair- man of its board of directors.

Adherence to the Code of Practice – “comply or explain” Norwegian corporate governance is based on company, accounting, stock exchange and securities legislation. This Code of Practice includes provisions and guidance that in part elaborate on existing legislation and in part cover areas not addressed by legislation.

This Code of Practice addresses 15 major topics, with a separate section for each topic.

Adherence to the Code of Practice will be based on the “comply or explain” principle whereby companies must either explain how they comply with each of the recommenda- tions that make up the Code of Practice or explain why they have chosen an alternative approach.

Oslo Børs stipulates that companies listed on Oslo Børs must publish an annual statement on the company’s principles for corporate governance in accordance with the Norwegian Code of Practice for Corporate Governance or the equivalent code for companies with a primary listing on a foreign exchange

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 14 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 15 The Bond Market

Oslo Børs operates two distinct marketplaces for trading in bonds and short-term fixed- income instruments. The traditional fixed-income market (Oslo Børs) is regulated in accordance with the Stock Exchange Act which incorporates all EU directives implemented in Norwegian legislation. As a desire to give issuers an alternative to adapting to the new requirements imposed by the EU, the Alternative Bond Market (ABM) was established in June 2005. ABM is a separate marketplace where rules and procedures are tailor-made to reflect the particular needs of both issuers and investors. While offering the same high standards and quality as the traditional exchange market, ABM offers a somewhat simplified process for admission to listing than what is required under the EU Prospectus Directive. In addition, ABM represents an alternative for issuers who do not prepare their consolidated accounts in accordance with International Financial Reporting Standards (IFRS). Except for the IFRS-requirement, the continuing obligations for the issuers are to the extent possible the same in the two markets.

At the close of 2006, a total of 926 loans were listed on Oslo Børs and ABM; representing an outstanding volume of NOK 587 billion (EURO 71.3 billion). The total turnover in 2006 for both markets, was NOK 718.5 billion excl. repo (EUR 87 billion) which corresponds to a daily turnover of NOK 2.9 billion (EUR 347 million). The Norwegian bond market is characterised by a broad range of issuers: the Norwegian State, banks and industrial companies represent the largest sectors and make active use of the bond market for their funding. As a result there is considerable variety in the types of issues listed, covering everything from fixed-rate and floating rate to structured debt instruments such as conver- tible, asset-backed and index-linked bonds. Covered bonds are expected to be introduced during 2007 as soon as legislation is in place.

The past few years has been characterised by solid growth of both new issuers and number of issues admitted to trading. Oslo Børs’ fixed income markets have attracted a variety of both Norwegian and foreign companies in 2006, and this trend seems to continue in 2007. Most noteworthy is perhaps the growing number of bonds issued by local banks, industrial companies and foreign issuers who use the bond market as an alternative to equity or bank funding. As a result, investors get to benefit from a more diversified variety of issuers, sectors and regions.

The Norwegian bond market is largely a professional investors market, with private individuals accounting for only around 4% of the total outstanding volume. The investor side is dominated by private pension funds (34.7%), foreign investors (16.7%) and banks (15.7%). While the majority of foreign fixed-income investments are allocated government bonds, their share of industrial and commercial issues has increased significantly during the past few years.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 14 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 15 Oslo Børs offers two websites providing information about listed bonds. On www.oslobors. no you will find information about bonds listed in the exchange market while information regarding bonds listed on the ABM may be found on www.abmportal.no. On these pages, you may find, among other things, the prospectuses, price information (both intraday and historically), company disclosures, financial reports and terms and conditions for each issue.

For a complete overview of company disclosures for all listed securities (not only related to bonds), please see www.newsweb.no.

Oslo Børs calculates six bond indices, all of which are yield indices with fixed duration between 0.25 and 5 years. The indices provide institutional and professional investors with information related to both government- and corporate bonds.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 16 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 17 The Derivatives Market

The Derivatives Market Oslo Børs introduced trading in options on individual shares and the OBX index in 1990, and subsequently added trading in futures contracts for the OBX index. In 1997, Oslo Børs, NOS Clearing (now VPS Clearing), OM Stockholm AB and the OMLX Exchange in London launched the world’s first real-time interconnection of independent exchanges and clearing houses. This collaboration continues today between Oslo Børs, VPS Clearing (former NOS), Stockholmsbörsen and EDX (London). This development represented a transition from manual to electronic trading for the Norwegian derivatives market. A joint order book for Norwegian and Swedish derivatives was introduced in 2004, making cross-border derivatives trading even easier and in 2006 a common clearing system (SECUR) was implemented for all parties in the co-operation. Oslo Børs uses the CLICK XTTM trading system for derivatives trading. CLICK XTTM is the most widely distributed trading system in the world, and is used by over 20 exchanges in North America, Europe and Asia.

The average number of derivatives contracts traded daily in the Norwegian derivatives market reached 52,418 in 2006. This set a new record, representing an increase of 47% from 2005. The value of premiums traded (options) increased over the same period by 86% to NOK 5.2 billion (EURO 0.63 billion / USD 0.83 billion). The most widely traded derivative contracts in 2006 were in the OBX index, Statoil, Tomra, Norsk Hydro and Pan Fish (now Marine Harvest).

Special events and records in 2006

April The OBX Index was split 4:1 and converted to a return index

August Pan Fish (now Marine Harvest) and Seadrill were listed with standardized derivatives

December New trading record with 252,000 contracts traded in one day

December The value of premiums traded (options) passed 105 MNOK for the first time in one day

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 18 Trading at Oslo Børs

Practical matters Trading, clearing and settlement

Trading on all NOREX markets is carried out through the SAXESS electronic trading system, developed by OMX Technology. Oslo Børs runs an order-driven market where bids and offers are entered into the relevant order books and automatically matched if price, volume and other conditions are met. Trading is decentralised, which means that member firms are connected to the system and trade from their own offices.

The default settlement period for automatically matched trades is three days following trading day (T+3). Certificates operate with T+2 days. Settlement in respect of shares and bonds is carried out by the Norwegian Central Securities Depository (VPS). After T+3 days, VPS carries out a net settlement on the principle of payment against delivery. The payment part of the settlement is handled by Norges Bank. Derivatives settlement is organised by VPS Clearing (VPSC), which acts as a central counterpart between the parties in the trade. The individual trades are registered real time in the clearing system SECUR. VPSC ensures that the parties to a settlement can place satisfactory security, and organises net settlement cash and underlying deliveries related to the certain product.

Investment services may only be provided by Norwegian investment firms that are authorised under the Securities Trading Act, branches of investment firms from an European Economic Area (“EEA”) member state or investment firms from outside the EEA that have been licensed to operate in Norway. EEA member state investment firms may also conduct cross-border investment services in Norway.

Trading hours

Equities: Pre-trade Oslo Børs 8:15 am - 9:00 am Pre-trade Oslo Axess 8:17 am - 9:10 am Continuous trading Oslo Børs 9:00 am - 4:20 pm Continuous trading Oslo Axess 9:10 am - 4:20 am Closing call Oslo Børs/Oslo Axess 4:20 pm - 4:30 pm

Bonds: Pre-trade 8:15 am – 9:00 am Continuous trading 9:00 am – 4:00 pm

Derivatives: Continuous trading 9:00 am – 4:20 pm

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 20 Trading quantities Equities are traded in multiples of a ‘round lot’ that is determined in relation to the share price of the stock in question. One round lot has a value of approximately NOK 10,000 (EURO 1.250/USD 1.500). There is a fixed set of round lot levels, and the Exchange revises round lots for all stocks quarterly.

Odd lots may be traded in SAXESS, but with certain limitations.

Tick size levels

Equities – OBX and corresponding Equity rights

Share price(NOK) Tick size (NOK) Below 15.00 0.01 15.00 – 49.95 0.05 50.00 – 99.90 0.10 100.00 – 249.75 0.25 250.00 – 499.50 0.50 Above 500.00 1.00

Equities – others, Primary Capital Certificates (grunnfondsbevis) and corresponding rights and warrants

Share price(NOK) Tick size (NOK) Below 10.00 0.01 10.00 – 14.95 0.05 15.00 – 49.90 0.10 50.00 – 99.75 0.25 100.00 – 249.50 0.50 Above 250.00 1.00

Trading currency All stocks in Oslo are currently traded in Norwegian kroner (NOK). Oslo Børs does, however, have the necessary infrastructure in place for trading in stocks denominated in both EURO and USD.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 21 Buy-backs Norwegian companies can buy back up to 10% of their outstanding shares, while non- Norwegian companies must follow the rules of the country in which they are registered.

Substantial shareholding & disclosure Under Section 3-2 of the Securities Trading Act, where an acquisition causes the acquirer’s proportion of shares and/or rights to shares in a company whose shares are listed on Oslo Børs to reach or exceed 5%, 10%, 20%, 33.3%, 50, 66.6% or 90% of the share capital or an equivalent proportion of the voting rights, the acquirer must notify the transaction to Oslo Børs.

Notification is also required when these levels are crossed due to selling, i.e. when the shareholder’s proportion of shares is reduced. All company disclosures are published at www.newsweb.no.

Takeovers and acquisition Any person who through acquisition becomes the owner of shares representing more than 40% of the voting rights in a Norwegian company whose shares are listed on Oslo Børs, is required to make an offer for the remaining shares in the company.

When any shareholder alone or through subsidiaries owns more than 90 percent of the shares in a listed company and a corresponding part of the votes, the shareholder may decide to take over the remaining shares. Each of the other shareholders also have a right to require the majority shareholder to take over the shares.

Foreign investment and shareholding limits There are no limits on shareholding or trading by foreign investors. However, shareholding restrictions apply to some listed companies (e.g., an investor, foreign or Norwegian, can- not own more than 10% of the shares in a financial institution).

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 22 Main indices

1 Oslo Børs Benchmark Index (OSEBX)

Type: Free float market capitalisation-weighted. Base date: 31 December 1995, with a base value of 100.

Composition The Oslo Børs Benchmark Index’ objective is to function as an investment universe at Oslo Børs. The index includes the 25 most liquid shares, ranked on the basis of the past 12 months’ turnover. In addition the index includes 85% of the market capitalization in each industry group in the Global Industry Classification Standard (GICS). The 30% (in number of total listed companies) most illiquid companies are excluded. The index is revised semi- annually with changes implemented on 1 January and 1 July. The OSEBX index is adjusted for dividend payments.

2 OBX Total Return Index (OBX)

Type: Free float market capitalisation-weighted. Base date: 02 January 1996, with a base value of 77.99.

Composition The OBX Total Return Index represents a highly liquid and stable Blue Chip universe, created mainly for derivatives trading. The OBX index is a semi-annually revised, free float adjusted, total return index. The composition changes are implemented on the first Friday after the third Thursday in December and June respectively. The index consists primarily of the 25 most liquid securities in the OSEBX Index. The constituents are selected on the basis of six months’ turnover. The OBX index is adjusted for dividend payments.

Related products: OBX Index Futures, OBX Index Options

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 23 Financial market data business area

Oslo Børs information as (OBI)

The availability of continuously updated company and real time price information is of fundamental importance for investment decisions. The sale of related information products accordingly represents an important part of the range of services offered by Oslo Børs. Market data generated by the Oslo Børs´ marketplaces for trading in equity products, fixed-income products and derivatives, together with company disclosures and information produced by Oslo Børs itself, is produced and distributed through systems operated by Oslo Børs Informasjon AS (OBI).

OBI’s databases and real time information feeds are the main source of financial market data in respect of securities trading in Norway. This places a heavy requirement on the quality of data creation and processing, and on the quality of the data distributed to the market.

Products and Services OBI offers a broad range of products which is advantageous for customers who prefer to restrict the number of sources they use for market information. Below you will find some of these services:

“Real-Time” and “Delayed” Price Information is a product offered by the OBI containing detailed trading information on all securities listed on Oslo Børs (shares, bonds, derivatives, primary capital certificates and warrants etc.). The “real-time” product also includes the top 20 shareholders in each listed company and an overview of the primary insiders. “Fundamental Data Equities” is an information product that provides information on company matters as they affect the equity of listed companies. “Fundamental Data Bonds” provides information on matters that affect the valuation of fixed income securities listed on Oslo Børs. “Fundamental Data Accounting” provides a number of selected key figures and detailed information from annual and quarterly company reports gathered together in a structured and standardized format to permit presentation and comparison between companies over a number of periods. “Fundamental Data Accounting – Document Feed” provides all original PDF documents from equities and fixed income market including prospectuses, interim reports and annual reports. “Notification Services (listing/delisting services)” which provides information on the dates of listing and delisting of specific securities together with other events affecting listed securities in a summarized format. A more comprehensive version is to be found in the “Corporate Events Diary” which is a web-based online calendar for tracking all upcoming

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 24 corporate events and dividends for shares a primary capital certificates traded on Oslo Børs. The Plus version of the product also contains all the historical events back to 1983 or from the day the company was listed. “Oslo Børs Index Weights” provides index weighting information calculated and distributed daily that permits the opening value of stock exchange indices to be calculated. “Nordic Index Weights” – VINX Indices provides index weighting information for all Nordic indices which also is calculated and distributed daily. “Company Performance Report” provides companies detailed trade and liquidity information for their company such as key figures on share liquidity (depth, relative spread, order coverage, tick size spread etc.), historical prices, trade volumes and broker activity.

OBI does also have a range of other “Statistical Products”. Worth mentioning is “Trade Statistics” which provides Member Firms with detailed, flexible and timely market share statistics on trading volumes and associated market share rankings in a range of different ways. “Participant Trading Data” provides intra day, tick by tick trading data filtered specifically for one participant. The list contains all trades that have been executed by the market participant through the trading system during the day. The product consists of two reports, one for the Equity market and another for the Fixed Income market. “Broker Statistics for Issuers” provides each member firms market share within one security during the month and during the latest quarter. The report includes the total of all trades that have been executed in the security through the trading system during the period

OBI also offer listed companies an investor relation web package which make it easy and maintenance free to present information on your own company such as company announcements, price information, trades, order depth, dividends, risk, basic data, top 20 shareholders, price graphs as a tool to easy benchmark these with a reference index, or other selected indices/ companies. The level of details presented reduces the need to manually serve existing and potential investors, and gives the company a favorable profile on the web.

“Mutual Fund Feed” contains key figures, classification information, transaction costs, management fees, fund prices, return, dividends and risk figures for the majority of securities funds sold in Norway. “Historic Price Information” provides daily aggregate prices for securities listed on Oslo Børs and securities funds. OBI can also tailor-make a range of products in accordance with any request. OBI has already delivered thousands of ad hoc products and individual analysis.

For more information, check www.obi.no. You can also contact OBI directly at the following contact points:

Oslo Børs Informasjon AS Visiting address: Tollbugaten 2, Oslo Postal address: P.O. Box 102 Sentrum, N-0102 Oslo, Norway Tel: + 47 22 34 18 00 | Fax: + 47 22 42 68 47 Internet: www.obi.no | E-mail: [email protected]

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 25 Member firms

ABG Sundal Collier Norge ASA +47 22 01 60 00 www.abgsc.no ABN Amro Bank N.V., London +44 207 678 8000 www.abnamro.com Bankaktiebolaget Avanza AB +46 8 5622 5000 www.avanza.se Carnegie ASA +47 22 00 93 00 www.carnegie.no Christiania Securities ASA +47 23 31 85 00 www.christiania-sec.no Crédit Agricole Cheuvreux Nordic AB +46 8 723 51 00 www.cheuvreux.com Credit Suisse Securities(Europe) Ltd +44 20 7888 8888 www.credit-suisse.com Danske Bank A/S +45 33 44 00 00 www.danskebank.com Deutsche Bank AG +44 20 7546 0000 www.db.com DnBNOR Markets +47 22 48 10 50 www.dnbnor.no/markets Dresdner Kleinwort Ltd. +44 20 7623 8000 www.dresdnerkleinwort.com Erik Penser Fondkommission AB +46 8 463 80 00 www.penser.se E*TRADE Sverige AB +46 8 506 100 00 https://se.etrade.com E*TRADE Bank A/S +45 70 10 32 32 https://dk.etrade.com Fearnley Fonds ASA +47 22 93 60 00 www.fearnleyfonds.com FIM Securities Ltd. +358 9613 4600 www.fim.com First Securities ASA +47 23 23 80 00 www.first.no Fondsfinans ASA +47 23 11 30 00 www.fondsfinans.no Glitnir AB +46 8 463 85 00 www.glitnir.se Glitnir Banki hf. +354 440 4000 www.glitnir.is Glitnir Securities ASA +47 22 01 63 00 www.glitnir.no HQ Bankaktiebolag +46 8 696 1700 www.hq.se HSBC Bank plc +44 20 7991 0000 www.hsbc.com Instinet Europe Ltd. +44 20 7154 8400 www.instinet.com Jefferies International Ltd. +44 20 7618 3500 www.jefferies.com JP Morgan Cazenove Ltd. +44 20 7588 2828 www.jpmorgancazenove.com JP Morgan Securities Ltd. +44 20 7325 1000 www.jpmorgan.com Kaupthing ASA +47 24 14 74 00 www.kaupthing.no

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 26 Knight Equity Markets International Ltd. +44 20 7997 2200 www.knighttrading.com Landsbanki Íslands hf. +354 410 4000 www.landsbanki.is Lehman Brothers International (Europe) +44 20 7601 0011 www.lehman.com Merrill Lynch International +44 20 7996 1000 www.ml.com Morgan Stanley & Co International Ltd +44 20 7425 8000 www.morganstanley.com MP Investment Bank hf. +354 540 3200 http://english.mp.is Neonet Securities AB +46 8 454 1500 www.neonet.biz Netfonds Bank ASA +47 23 15 86 00 www.netfonds.no Nordea Markets +47 22 48 50 00 www.nordea.no/markets Nordnet Bank NUF +47 22 22 53 70 www.nordnet.no Norges Bank +47 22 31 60 00 www.norgesbank.no Nyenburgh Beheer B.V. +31 20 607 50 00 www.nyenburgh.nl Orion Securities ASA +47 21 00 29 00 www.securities.no Pareto Securities ASA +47 22 87 87 00 www.pareto.no SEB Enskilda ASA +47 21 00 85 00 www.enskilda.no SkandiaBanken AB +47 55 26 00 00 www.skandiabanken.no Skandinaviska Enskilda Banken +47 22 82 73 00 www.seb.no Société Générale SA +33 1 4214 2000 www.sgcib.com Société Générale SA London Branch +44 20 7522 1000 Sparebank 1 Nord-Norge Securities ASA +47 77 62 20 00 www.snn.no Storebrand Bank ASA +47 22 31 50 50 www.storebrand.no Svenska Handelsbanken AB +47 22 94 09 00 www.handelsbanken.com Swedbank AB +46 8 585 90 00 www.swedbank.com Sydbank A/S +45 74 36 36 36 www.sydbank.dk Terra Securities ASA +47 22 87 81 00 www.terra-aksjehandel.no Timber Hill (Europe) AG +41 41 726 5060 UBS Limited +44 20 7567 8000 www.ubs.com

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 27

Energy Tiny Norway drives technology in the energy space

From the low point four years ago, the energy sector has spurred into action.

Tormod Høiby | Pareto Securities

Although the oil & energy prices have stabilized in the last year we are still enjoying very strong prices. The world is running short of energy and that is reflected in prices. The Norwegian energy sector has been well positioned to take advantage of the improvement investment climate in recent years with proactive E&P companies and leading edge oil service equipment and technology players. With lack of oil production capacity we believe the world needs significant investments in the whole energy complex. There are reserves out there, but the challenge is to bring them onstream. The only viable answer is more exploration and new production tools. The big oil companies are not investing sufficiently and energy prices are therefore set to remain high in our opinion.

From the low point in 2003 when lack of energy investments and relatively speaking low energy prices the sector has spurred into action. Profitability has come back in force and the RoE of the Norwegian oil service companies which was a dismal minus 5% in 2003 is came in at 28% in 2006. The market is anticipating growth. The sector is priced at 15x our 2007E net profit estimate for the sector, but only 10x 2008E.

The E&P sector is in growth modus. The Norwegian Government has done its part to stimulate increased activity in Norway. The merger between Hydro and Statoil will push this even further. The Department of Energy is likely to do everything they can to maintain competition. From a low of 5 new licenses awarded in 2001 a total of 60 where awarded in early 2007. A total of 42 new players have entered the Norwegian Continental Shelf in the same time frame. There are a lot of opportunities for smaller oil companies on a maturing Norwegian Continental shelf. Players like Pertra & Revus are well positioned to take advantage of these opportunities.

But the Norwegian market is also focused internationally. The new and merged Hydro and Statoil are likely to focus internationally. But more importantly we have seen profitable international expansion from smaller Norwegian E&P’s like DNO and PA Resources. An entrepreneurial spirit can compete well with size.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 30 Drilling is the best example of how light footed the Norwegian industry is. From a long tradition as ship owners, the Norwegian players are quick to act on changes in the environment. Day rates are at historic highs with payback for a new rig in 3-4 years. Norwegian companies have responded. Globally there are around 100 semis, jackups and drillships under construction, adding 15% to the global rig fleet over 4-years or around 4% p.a. 50-60% of rigs under construction globally are owned by Norwegian drilling contractors. In 2003 less than 5% of the global fleet was listed in Norway. The world’s rig newbuilds are coming out of Norway. If 2005 was the big year of drilling, 2006 proved to be the big FPSO year. Through 2006 we not only saw the listing of Aker Floating Production and Bergesen Worldwide Offshore. We also saw new growth for Prosafe and Sevan. A string of new smaller companies were set up. As of today many of these companies are on the OTC list, but are likely to be included on the new OSE Axxess.

Another example is the subsea market. Two of the world’s three leading subsea contractors in the world are listed in Norway. At the same time there is need for new equipment. During 2005 two new small players were listed. Both Geo & Deepocean have substantial operational track record. During 2005 they both saw significant demand for more advanced newbuilds and went to the equity market to finance growth. The companies have since listing in 2005 acquired/ordered a total of 13 high-tech underwater robots (ROVs) and 7 vessels as well as merging/acquiring 3 smaller international subsea companies. As a result the companies have established presence in most of the world’s leading subsea provinces.

30-years of operating in the North Sea has been challenging, but at the same time it has resulted in the world’s leading technology cluster for subsea, deepwater and Artic operations. Norway’s leading position has been recognized by international investors. Over 70% of all new equity in the sector has come from non-Norwegian investors. The Norwegian market is increasingly looking like a global energy exchange.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 31 Share Price Company: Acergy S.A. 140,0 120,0 Ticker: ACY 100,0 80,0 60,0 Company Presentation: Acergy S.A. is a seabed-to-surface engineering 40,0 and construction contractor for the offshore oil and gas industry worldwide. 20,0 We plan, design and deliver complex, integrated projects in harsh and 0 Period challenging environments. We operate internationally as one group. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin LU0075646355 Revenue 2 324 951 2 178 329 2 261 035 3 017 807 2 453 113 3 430 032 3 787 475 3 993 113 Round Lot 100,00 Other Income 25 047 42 799 51 358 32 562 40 707 54 952 147 880 22 807 Reg.Share Capital (mill) 389 002,49 Operating Costs 2 297 399 1 941 047 2 028 301 2 681 771 2 309 637 2 986 582 3 258 351 3 533 723 Number of Shares 194 501,25 EBITDA 52 598 280 080 284 092 368 597 184 184 498 403 677 003 482 197 Currency USD Depreciation 0 0 6 501 0 0 0 0 9 123 Gics 10 EBIT 52 598 280 080 277 591 368 597 184 184 498 403 677 003 473 074 Listed From 05-06-97 Net Financials -11 271 -78 674 18 853 -72 938 19 353 31 310 0 46 916 Par Value 2,00 Pre Tax Profit 72 009 134 690 254 838 649 929 340 339 621 725 597 136 479 591 Number of days traded 251 Tax 20 037 49 722 96 214 -84 660 73 407 151 438 225 252 18 245 Avg. Trades pr Day 802,41 Minority Interests 18 159 16 994 1 950 29 305 -6 006 -2 556 36 190 18 245 Net Income 33 813 67 974 156 673 705 284 272 939 472 843 335 694 443 100 Key Figures 2006 EPS 0,18 0,35 0,82 3,66 1,41 2,44 1,73 2,28 (Preliminary figures) Price Book 4,75 4,53 6,55 4,29 5,27 4,83 5,26 5,42 Long Term Fixed Assets 3 773 004 3 878 372 3 899 468 3 809 304 4 024 541 4 031 048 4 600 900 4 983 764 Operating result per Share 9,53 Current Assets 2 808 827 2 962 860 3 126 926 3 427 967 2 498 059 3 331 977 3 528 949 4 244 489 BVPS 22,30 Cash 555 565 534 371 640 346 2 140 363 2 600 088 1 839 693 2 045 194 4 438 742 Gross Margin 0,20 Total Assets 7 137 396 7 375 602 7 666 741 9 377 634 9 122 687 9 202 719 10 175 043 13 666 995 EBITDA Margin 0,13 Total Equity 2 157 774 2 248 219 2 469 814 3 327 722 3 463 712 3 698 215 4 229 332 4 444 310 EBITDA 1 866 230 Long term debt 494 180 56 012 56 103 396 915 57 268 52 840 54 698 3 137 123 EBITA 1 852 659 Short term debt 4 199 599 4 769 419 4 864 824 5 652 996 5 296 280 5 192 321 5 618 153 5 688 395 Net Margin 0,11 Total Liability and Equity 7 137 396 7 375 602 7 666 741 9 377 634 9 122 687 9 202 719 10 175 043 13 666 995 ROE 24,17 Net Interestbearing Debt -61 385 -473 208 -579 084 -1 743 447 -2 537 554 -1 781 994 -1 985 466 -1 286 771 Chg Operating Activities 0 0 0 0 0 0 0 0 Chg Investing activities 0 0 0 0 0 0 0 0 Chg Financing activities 0 0 0 0 0 0 0 0 Chg Cash and Liquids 0 0 0 0 0 0 0 0

Company: Artumas Group Inc. Share Price 50 40 Ticker: AGI 30 20 Company Presentation: Artumas Group Inc. (Artumas) is a Canadian-based independent energy producer, delivering a total energy solution to targeted 10 regions in rural Africa. The Artumas total energy solution provides least-cost 0 Period electricity by converting stranded natural gas reseves to power generation. Jun 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CA04317T1066 Revenue 113 0 0 0 0 0 0 0 Round Lot 200,00 Other Income 36 0 0 0 0 0 0 0 Reg.Share Capital (mill) 0,00 Operating Costs 3 283 4 364 4 659 1 318 9 278 9 114 7 926 16 088 Number of Shares 21 033,64 EBITDA -3 135 -4 364 -4 659 -1 318 -9 278 -9 114 -7 926 -16 088 Currency CAD Depreciation 26 21 26 53 38 34 1 082 77 Gics 10 EBIT -3 160 -4 385 -4 685 -1 371 -9 316 -9 148 -9 008 -16 165 Listed From 08-07-05 Net Financials 0 93 807 765 1 457 -3 670 -4 839 -7 418 Par Value 0,00 Pre Tax Profit -3 160 -4 292 -3 878 -606 -7 859 -12 818 -13 847 -23 583 Number of days traded 215 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 15,57 Minority Interests 0 0 0 0 0 0 0 0 Net Income -3 160 -4 292 -3 878 -606 -7 859 -12 818 -13 847 -23 583 Key Figures 2006 EPS -0,40 -0,45 -0,23 -0,03 -0,44 -0,71 -0,77 -1,14 (Preliminary figures) Price Book 0,00 0,00 1,88 1,74 1,63 2,41 2,40 2,47 Long Term Fixed Assets 71 788 90 560 175 519 270 971 372 810 438 690 618 434 771 748 Operating result per Share -1,88 Current Assets 1 627 3 347 5 517 6 283 29 487 88 092 68 494 100 926 BVPS 17,56 Cash 24 273 21 297 156 304 88 319 99 489 16 777 21 231 140 164 Gross Margin 0,00 Total Assets 97 688 115 205 337 340 365 573 501 785 543 559 708 160 1 012 838 EBITDA Margin 0,00 Total Equity 69 535 95 623 300 277 310 470 304 398 280 587 402 608 520 112 EBITDA -34 812 Long term debt 0 0 0 0 122 435 185 366 183 315 373 198 EBITA -35 113 Short term debt 22 652 15 066 31 502 55 103 63 762 77 606 122 243 119 529 Net Margin 0,00 Total Liability and Equity 97 688 115 205 337 340 365 573 501 785 543 559 708 167 1 012 838 ROE -7,94 Net Interestbearing Debt -24 273 -21 297 -156 304 -88 319 22 946 168 588 162 084 233 034 Chg Operating Activities 686 -9 500 -2 778 -2 009 -8 905 -3 102 -1 619 -18 831 Chg Investing activities -27 803 -28 371 -51 407 2 994 124 659 -73 560 -2 309 -170 471 Chg Financing activities 22 522 38 642 182 687 -72 907 -101 967 58 778 -52 877 312 258 Chg Cash and Liquids -4 595 771 128 502 -71 922 13 786 -17 884 -56 805 122 957

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 32 Share Price Company: AGR Group ASA 56,0 Ticker: AGR 52,0 48,0 Company Presentation: AGR Group is a provider of technology-based products, systems and services primarily to the oil and gas industry. The 44,0 company is based in Norway, with increasing international operations 42,0 Period Jul 06 Sep 06 Dec 06

2005 2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010277171 Revenue 289 847 294 120 399 367 514 298 Round Lot 200,00 Other Income 0 0 0 0 Reg.Share Capital (mill) 137 547,89 Operating Costs 247 097 243 666 340 590 453 107 Number of Shares 68 773,95 EBITDA 42 750 50 454 58 777 61 191 Currency NOK Depreciation 13 786 17 030 42 136 46 597 Gics 10 EBIT 28 964 33 424 16 641 14 594 Listed From 03-07-06 Net Financials -14 640 -11 231 -12 774 -5 185 Par Value 2,00 Pre Tax Profit 14 324 22 193 3 867 9 409 Number of days traded 121 Tax 4 010 6 216 1 081 2 635 Avg. Trades pr Day 16,82 Minority Interests 0 0 0 0 Net Income 10 314 15 977 2 786 6 774 Key Figures 2006 EPS 0,97 0,30 0,04 0,10 (Preliminary figures) Price Book 0,00 0,00 4,17 3,91 Long Term Fixed Assets 796 923 1 352 620 1 390 170 1 542 480 Operating result per Share 1,58 Current Assets 302 493 598 864 673 241 737 647 BVPS 13,04 Cash 21 074 142 895 68 768 147 727 Gross Margin 1,00 Total Assets 1 120 490 2 094 379 2 132 179 2 427 854 EBITDA Margin 0,14 Total Equity 153 145 694 055 719 394 896 621 EBITDA 213 172 Long term debt 683 450 802 320 802 414 861 111 EBITA 93 623 Short term debt 274 704 536 681 567 103 607 014 Net Margin 0,02 Total Liability and Equity 1 120 490 2 094 379 2 132 179 2 427 854 ROE 4,01 Net Interestbearing Debt 662 376 659 425 733 646 713 384 Chg Operating Activities -5 454 76 659 -2 128 19 487 Chg Investing activities -39 178 -616 997 -72 023 -160 208 Chg Financing activities 1 501 616 668 94 219 680 Chg Cash and Liquids -43 131 76 330 -74 057 78 959

Company: Aker Drilling ASA Share Price 450,0 Ticker: AKD 350,0 200,0

Company Presentation: Aker Drilling is a rig company established by Aker 100,0 in 2005. 0 Period Dec 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010287006 Revenue 0 0 0 0 0 Round Lot 200,00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 93 000,00 Operating Costs 4 000 4 000 7 000 6 000 15 000 Number of Shares 93 000,00 EBITDA -4 000 -4 000 -7 000 -6 000 -15 000 Currency NOK Depreciation 0 0 0 0 0 Gics 10 EBIT -4 000 -4 000 -7 000 -6 000 -15 000 Listed From 21-12-05 Net Financials 0 0 0 1 000 3 000 Par Value 1,00 Pre Tax Profit -4 000 -4 000 -7 000 -5 000 -12 000 Number of days traded 251 Tax -1 000 -1 000 -2 000 1 000 -3 000 Avg. Trades pr Day 126,90 Minority Interests 0 0 0 0 0 Net Income -3 000 -3 000 -5 000 -6 000 -9 000 Key Figures 2006 EPS 0,00 -0,03 -0,05 -0,06 -0,10 (Preliminary figures) Price Book 1,08 1,15 0,86 0,81 1,07 Long Term Fixed Assets 960 000 960 000 3 951 000 964 000 4 053 000 Operating result per Share -0,37 Current Assets 2 921 000 2 921 000 0 2 987 000 0 BVPS 35,74 Cash 242 000 242 000 184 000 184 000 98 000 Gross Margin 0,00 Total Assets 4 123 000 4 123 000 4 135 000 4 135 000 4 151 000 EBITDA Margin 0,00 Total Equity 3 346 000 3 346 000 3 337 000 3 337 000 3 324 000 EBITDA -34 000 Long term debt 768 000 768 000 770 000 770 000 817 000 EBITA -34 000 Short term debt 9 000 9 000 28 000 28 000 10 000 Net Margin 0,00 Total Liability and Equity 4 123 000 4 123 000 4 135 000 4 135 000 4 151 000 ROE -0,38 Net Interestbearing Debt 526 000 526 000 586 000 586 000 719 000 Chg Operating Activities -2 913 000 -48 -10 000 -10 000 -8 000 Chg Investing activities 0 0 0 0 -68 000 Chg Financing activities 3 155 000 0 0 0 0 Chg Cash and Liquids 242 000 -48 -10 000 -10 000 -76 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 33 Company: Aker ASA Share Price 500,0 400,0 Ticker: AKER 300,0 200,0 Company Presentation: The Aker Group is a worldwide supplier of technology- based products and advanced, integrated solutions for customers in oil, gas, 100,0 energy, and process industries. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010234552 Revenue 12 666 000 14 894 000 15 463 000 14 363 000 17 159 000 20 151 000 18 942 000 23 640 000 Round Lot 20,00 Other Income 0 0 0 22 000 0 0 0 144 000 Reg.Share Capital (mill) 2 026 492,38 Operating Costs 12 110 000 14 170 000 14 567 000 13 838 000 16 068 000 19 052 000 17 915 000 22 578 000 Number of Shares 72 374,73 EBITDA 556 000 724 000 896 000 547 000 1 091 000 1 099 000 1 027 000 1 206 000 Currency NOK Depreciation 189 000 201 000 225 000 219 000 206 000 214 000 220 000 274 000 Gics 10 EBIT 367 000 523 000 671 000 328 000 885 000 885 000 807 000 932 000 Listed From 08-09-04 Net Financials -100 000 -190 000 -132 000 -179 000 -183 000 395 000 -206 000 -747 000 Par Value 28,00 Pre Tax Profit 267 000 333 000 539 000 149 000 736 000 1 280 000 645 000 2 029 000 Number of days traded 251 Tax 118 000 414 000 119 000 249 000 260 000 217 000 137 000 134 000 Avg. Trades pr Day 568,15 Minority Interests 101 000 166 000 206 000 62 000 366 000 0 281 000 1 498 000 Net Income 48 000 -247 000 214 000 -162 000 110 000 1 063 000 227 000 397 000 Key Figures 2006 EPS 1,39 -7,14 6,19 -3,73 1,52 14,69 3,14 5,49 (Preliminary figures) Price Book 0,61 0,78 1,13 1,77 2,84 2,77 2,54 3,14 Long Term Fixed Assets 16 823 000 18 845 000 20 222 000 20 321 000 19 987 000 21 154 000 22 443 000 24 292 000 Operating result per Share 49,55 Current Assets 16 994 000 21 432 000 18 938 000 24 580 000 28 307 000 27 641 000 28 938 000 35 835 000 BVPS 127,52 Cash 6 742 000 6 904 000 8 156 000 12 378 000 11 050 000 11 348 000 14 862 000 14 987 000 Gross Margin 0,36 Total Assets 40 559 000 47 181 000 47 316 000 57 279 000 59 344 000 60 143 000 66 243 000 75 114 000 EBITDA Margin 0,06 Total Equity 11 120 000 12 718 000 13 786 000 14 945 000 14 902 000 16 225 000 17 594 000 20 723 000 EBITDA 4 423 000 Long term debt 6 632 000 8 326 000 11 524 000 13 475 000 11 608 000 12 867 000 0 9 786 000 EBITA 3 509 000 Short term debt 17 346 000 20 450 000 19 053 000 28 216 000 30 167 000 28 336 000 32 340 000 41 687 000 Net Margin 0,02 Total Liability and Equity 40 559 000 47 181 000 47 316 000 57 279 000 59 343 000 60 144 000 66 243 000 75 114 000 ROE 16,37 Net Interestbearing Debt 1 219 000 3 160 000 4 823 000 1 097 000 5 608 000 3 616 000 -10 628 000 -5 201 000 Chg Operating Activities -1 695 000 -361 000 834 000 4 052 000 -887 000 468 000 2 214 000 2 542 000 Chg Investing activities 1 201 000 -1 034 000 -540 000 -533 000 -565 000 94 000 -154 000 -316 000 Chg Financing activities -907 000 1 128 000 960 000 -1 462 000 143 000 -143 000 1 131 000 -2 020 000 Chg Cash and Liquids -1 330 000 -271 000 1 195 000 2 057 000 -1 309 000 298 000 3 514 000 125 000

Company: Aker Floating Production ASA Share Price 100,0 80,0 Ticker: AKFP 60,0 40,0 Company Presentation: Aker Floating Production plans to build, own and operate a fleet of Aker Smart FPSOs targeted at midsized and smaller oil 20,0 companies through the conversion of tankers based on a flexible modular 0 Period design. Jun 06 Sep 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010308836 Revenue 0 0 6 422 Round Lot 100,00 Other Income 0 0 0 Reg.Share Capital (mill) 220 000,00 Operating Costs 12 196 11 386 26 974 Number of Shares 22 000,00 EBITDA -12 196 -11 386 -20 552 Currency NOK Depreciation 0 0 1 927 Gics 10 EBIT -12 196 -11 386 -22 478 Listed From 26-06-06 Net Financials 37 870 -28 466 26 332 Par Value 10,00 Pre Tax Profit 25 675 -39 852 3 853 Number of days traded 104 Tax 0 0 0 Avg. Trades pr Day 7,88 Minority Interests 0 0 0 Net Income 25 675 -39 852 3 853 Key Figures 2006 EPS 0,00 -1,81 0,18 (Preliminary figures) Price Book 1,14 0,91 1,17 Long Term Fixed Assets 800 422 1 006 928 1 047 104 Operating result per Share -2,12 Current Assets 198 855 50 737 56 296 BVPS 76,24 Cash 717 879 686 896 600 490 Gross Margin 1,00 Total Assets 1 717 156 1 744 561 1 703 889 EBITDA Margin -6,93 Total Equity 1 710 903 1 738 706 1 680 120 EBITDA -44 997 Long term debt 0 0 0 EBITA -46 627 Short term debt 5 003 5 854 22 518 Net Margin -1,72 Total Liability and Equity 1 715 906 1 744 561 1 703 889 ROE -0,39 Net Interestbearing Debt -717 879 -686 896 -600 490 Chg Operating Activities 10 912 -34 791 -30 828 Chg Investing activities -197 697 -22 773 -31 470 Chg Financing activities 923 013 0 642 Chg Cash and Liquids 736 228 -57 564 -61 655

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 34 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 35 Share Price 100,0 Company: Aker Kværner ASA 80,0 Ticker: AKVER 60,0 40,0 Company Presentation: Aker Kværner ASA is through its subsidiaries and affiliates (”Aker Kvaerner”)a leading global provider of engineering and 20,0 construction services, technology products and integrated solutions. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010215684 Revenue 8 407 000 9 709 000 10 073 000 13 274 000 10 547 000 13 998 000 10 547 000 15 304 000 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 550 292,34 Operating Costs 8 031 000 9 268 000 9 534 000 12 485 000 9 898 000 13 265 000 9 898 000 14 518 000 Number of Shares 55 029,23 EBITDA 376 000 441 000 539 000 789 000 649 000 733 000 649 000 786 000 Currency NOK Depreciation 76 000 77 000 94 000 109 000 79 000 97 000 79 000 100 000 Gics 10 EBIT 300 000 364 000 445 000 680 000 570 000 636 000 570 000 686 000 Listed From 02-04-04 Net Financials -95 000 -98 000 -80 000 -297 000 67 000 17 000 67 000 -598 000 Par Value 10,00 Pre Tax Profit 205 000 266 000 365 000 383 000 671 000 653 000 671 000 2 471 000 Number of days traded 251 Tax 67 000 74 000 107 000 -419 000 170 000 187 000 170 000 63 000 Avg. Trades pr Day 896,67 Minority Interests 9 000 3 000 -1 000 5 000 6 000 0 6 000 12 000 Net Income 129 000 189 000 259 000 797 000 495 000 466 000 495 000 2 396 000 Key Figures 2006 EPS 2,34 3,43 4,71 14,48 9,00 8,47 9,00 43,54 (Preliminary figures) Price Book 3,91 4,58 6,16 5,35 7,21 6,07 7,21 5,36 Long Term Fixed Assets 6 798 000 6 823 000 6 890 000 7 264 000 6 841 000 7 260 000 6 841 000 7 569 000 Operating result per Share 46,03 Current Assets 10 199 000 12 211 000 10 415 000 12 285 000 13 880 000 14 705 000 13 880 000 18 161 000 BVPS 145,07 Cash 2 425 000 2 629 000 3 170 000 6 746 000 6 723 000 6 225 000 6 723 000 5 666 000 Gross Margin 0,38 Total Assets 19 422 000 21 663 000 20 475 000 26 295 000 27 444 000 28 190 000 27 444 000 31 396 000 EBITDA Margin 0,06 Total Equity 3 051 000 3 253 000 3 507 000 4 327 000 4 553 000 5 429 000 4 553 000 8 114 000 EBITDA 2 872 000 Long term debt 2 134 000 2 057 000 3 033 000 6 680 000 2 095 000 6 626 000 2 095 000 2 126 000 EBITA 2 533 000 Short term debt 10 111 000 11 812 000 13 777 000 15 242 000 16 179 000 16 105 000 16 179 000 17 520 000 Net Margin 0,07 Total Liability and Equity 19 422 000 21 663 000 20 475 000 26 295 000 27 444 000 28 190 000 27 444 000 31 396 000 ROE 35,65 Net Interestbearing Debt -291 000 -572 000 3 342 000 -66 000 -4 628 000 401 000 -4 599 000 -3 540 000 Chg Operating Activities -886 000 276 000 704 000 3 580 000 447 000 -169 000 447 000 1 771 000 Chg Investing activities -136 000 -115 000 -138 000 -54 000 -184 000 -244 000 -184 000 1 625 000 Chg Financing activities -338 000 0 0 32 000 -275 000 0 -275 000 -4 413 000 Chg Cash and Liquids -1 278 000 204 000 541 000 3 576 000 -23 000 -498 000 -23 000 -1 097 000

Company: Altinex ASA Share Price 1,80 Ticker: ALX 1,40 1,00 Company Presentation: Altinex has oil exploration & production activity, 0,40 services & products to improve management of oil & gas resources and environmental technology & services for dewatering and treatment of liquid 0 Period waste. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003056806 Revenue 11 122 9 978 8 979 13 376 122 642 244 731 407 701 317 539 Round Lot 10 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 196 448,31 Operating Costs 14 303 19 391 12 977 20 154 37 666 78 678 116 896 108 683 Number of Shares 1 964 483,08 EBITDA -3 181 -9 413 -3 998 -6 778 84 976 166 053 290 805 208 856 Currency NOK Depreciation 822 754 767 1 196 16 827 105 439 173 810 159 396 Gics 10 EBIT -4 003 -10 167 -4 765 -7 974 68 149 60 614 116 995 49 460 Listed From 01-07-96 Net Financials -5 -1 204 249 -1 894 -12 417 -17 252 -7 109 -102 184 Par Value 0,10 Pre Tax Profit -4 008 -11 371 -4 516 -9 868 55 732 43 362 109 886 -52 724 Number of days traded 251 Tax -2 550 -8 675 -4 944 -33 493 41 433 23 510 53 028 -11 726 Avg. Trades pr Day 736,49 Minority Interests 0 0 0 0 0 0 0 0 Net Income -1 458 -2 696 428 23 625 14 299 19 852 56 858 -40 998 Key Figures 2006 EPS 0,00 0,00 0,00 0,02 0,01 0,01 0,03 -0,02 (Preliminary figures) Price Book 2,63 2,03 2,25 2,32 2,07 2,94 2,00 2,36 Long Term Fixed Assets 36 681 76 399 81 234 111 531 993 668 3 672 888 3 605 900 3 488 392 Operating result per Share 0,16 Current Assets 28 624 22 885 25 595 34 081 33 746 334 927 306 978 270 345 BVPS 0,48 Cash 63 526 208 226 198 082 186 055 618 057 1 482 138 644 767 332 038 Gross Margin 0,81 Total Assets 128 831 307 510 304 911 331 667 1 645 471 5 489 953 4 557 645 4 090 775 EBITDA Margin 0,68 Total Equity 108 627 207 419 207 695 257 459 428 424 901 348 992 593 947 711 EBITDA 750 690 Long term debt 0 50 000 50 000 49 250 341 750 983 024 1 956 642 1 758 719 EBITA 295 218 Short term debt 19 319 49 206 46 331 24 023 425 429 2 645 498 1 608 410 474 388 Net Margin 0,05 Total Liability and Equity 128 831 307 510 304 911 331 667 1 645 472 5 489 952 4 557 645 4 090 775 ROE 4,83 Net Interestbearing Debt -63 526 -158 226 -148 082 -136 805 -276 307 -499 114 1 542 219 1 426 681 Chg Operating Activities -5 550 -10 153 -19 363 -20 899 66 090 145 694 485 771 687 055 Chg Investing activities -3 055 -4 852 -5 510 -40 356 -439 970 -539 758 -3 202 863 -2 882 801 Chg Financing activities 29 032 180 132 179 856 204 213 805 857 1 689 145 3 175 802 2 341 727 Chg Cash and Liquids 20 427 165 127 154 983 142 958 431 977 1 295 081 458 710 145 981

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 36 Company: APL Plc Share Price 8,0 Ticker: APLC 6,0 4,0 Company Presentation: APL, headquartered in Arendal, Norway, is a leading supplier of Production Systems and Terminal Systems to the offshore oil and 2,0 gas industry. 0 Period Mar 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010255862 Revenue 79 300 242 700 247 100 322 200 332 100 441 600 420 200 477 800 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 10 951,58 Operating Costs 76 800 221 800 232 600 286 300 300 600 402 000 371 600 422 700 Number of Shares 43 806,32 EBITDA 2 500 20 900 14 500 35 900 31 500 39 600 48 600 55 100 Currency NOK Depreciation 3 100 2 700 3 400 4 400 4 100 4 000 4 300 5 300 Gics 10 EBIT -600 18 200 11 100 31 500 27 400 35 600 44 300 49 800 Listed From 18-03-05 Net Financials -1 500 -900 -500 -400 -700 -500 200 4 400 Par Value 0,25 Pre Tax Profit -2 100 17 300 10 600 31 100 26 700 35 100 44 500 54 200 Number of days traded 250 Tax -500 4 900 2 900 9 600 7 300 10 900 11 900 14 300 Avg. Trades pr Day 61,88 Minority Interests 0 0 0 0 0 0 0 0 Net Income -1 600 12 400 7 700 21 500 19 400 24 200 32 600 39 900 Key Figures 2006 EPS -0,04 0,32 0,20 0,55 0,49 0,57 0,74 0,91 (Preliminary figures) Price Book 3,71 4,73 4,87 4,88 5,67 3,64 2,97 3,99 Long Term Fixed Assets 275 700 278 700 283 200 283 500 284 000 600 900 602 600 604 100 Operating result per Share 3,59 Current Assets 153 600 171 500 154 000 542 700 698 700 637 100 721 700 795 500 BVPS 15,43 Cash 275 300 151 900 60 500 43 700 51 600 110 600 604 600 584 200 Gross Margin 0,24 Total Assets 704 600 602 100 497 700 869 900 1 034 300 1 348 600 1 928 900 1 983 800 EBITDA Margin 0,10 Total Equity 280 500 292 500 300 200 323 600 361 900 601 200 635 000 675 800 EBITDA 174 800 Long term debt 18 300 17 900 17 700 16 500 37 400 36 700 528 600 528 300 EBITA 168 700 Short term debt 367 600 249 500 133 000 481 500 579 300 643 900 684 900 712 000 Net Margin 0,07 Total Liability and Equity 704 600 602 100 497 700 869 900 1 034 300 1 348 600 1 928 900 1 983 800 ROE 13,51 Net Interestbearing Debt -31 400 -34 000 7 200 -27 200 -11 600 -71 300 -76 000 -36 800 Chg Operating Activities 11 400 12 000 -33 200 -14 100 21 500 167 200 8 000 -13 100 Chg Investing activities -6 300 -8 900 -7 900 -4 500 -4 600 -320 900 -5 900 -6 500 Chg Financing activities 170 400 -126 500 -50 300 1 800 -9 000 212 700 491 900 -800 Chg Cash and Liquids 175 500 -123 400 -91 400 -16 800 7 900 59 000 494 000 -20 400

Company: Awilco Offshore ASA Share Price 7,0 6,0 Ticker: AWO 5,0 5,0 3,0 Company Presentation: Awilco Offshore ASA is an oil service company 2,0 involved in drilling and accommodation services. Our objective is to create 1,0 the basis for a leading international drilling contractor. 0 Period May 05 Mar 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010255722 Revenue 41 378 102 575 89 225 88 915 82 570 128 937 151 312 Round Lot 200,00 Other Income 0 0 0 0 0 0 -17 822 Reg.Share Capital (mill) 1 487 521,73 Operating Costs 44 013 44 781 69 526 54 141 38 905 67 375 100 183 Number of Shares 148 752,17 EBITDA -2 635 57 794 19 699 34 775 43 665 61 562 33 307 Currency NOK Depreciation 13 108 13 888 14 339 12 526 11 938 16 738 22 568 Gics 10 EBIT -15 743 43 906 5 360 22 249 31 727 44 824 10 738 Listed From 11-05-05 Net Financials -7 414 -10 020 -26 761 -26 106 -11 359 -39 314 -39 106 Par Value 10,00 Pre Tax Profit -23 157 82 283 -21 401 -3 857 20 368 5 510 -28 368 Number of days traded 251 Tax -6 487 9 488 -5 999 -1 074 5 701 1 543 -12 023 Avg. Trades pr Day 311,51 Minority Interests 0 0 0 0 0 0 45 Net Income -16 670 72 795 -15 402 -2 783 14 667 3 966 -16 390 Key Figures 2006 EPS -0,17 0,62 -0,14 -0,02 0,11 0,03 -0,11 (Preliminary figures) Price Book 2,52 2,79 2,47 3,46 2,72 2,92 3,43 Long Term Fixed Assets 1 257 398 1 831 278 2 171 802 2 812 742 3 482 916 3 835 932 5 971 237 Operating result per Share 0,55 Current Assets 46 148 91 251 579 365 83 440 68 042 107 718 719 681 BVPS 18,95 Cash 610 240 346 792 242 004 267 901 157 109 294 429 639 440 Gross Margin 1,00 Total Assets 1 913 786 2 269 321 2 993 171 3 164 083 3 708 067 4 238 079 7 330 358 EBITDA Margin 0,36 Total Equity 1 269 834 1 488 679 2 031 093 2 033 716 2 450 560 2 524 136 2 938 246 EBITDA 146 255 Long term debt 426 364 638 376 760 382 1 024 935 1 068 699 1 474 206 3 643 070 EBITA 82 382 Short term debt 105 111 97 552 173 503 82 452 152 071 214 545 611 367 Net Margin -0,01 Total Liability and Equity 1 913 786 2 269 321 2 993 172 3 164 076 3 708 067 4 238 098 7 330 358 ROE -0,08 Net Interestbearing Debt -183 876 291 584 518 378 757 034 991 867 1 241 884 3 003 630 Chg Operating Activities 15 798 13 807 97 886 -45 072 73 710 57 741 147 652 Chg Investing activities -566 516 -959 280 -1 285 961 -187 167 -832 752 -249 442 -793 645 Chg Financing activities 1 014 356 1 145 664 1 259 903 265 238 662 271 318 829 1 011 834 Chg Cash and Liquids 463 638 200 191 95 401 33 000 -96 770 127 128 365 841

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 37 Company: Bjørge ASA Share Price 25,0 20,0 Ticker: BJORGE 15,0 10,0 Company Presentation: Bjørge ASA is through its subsidiaries a leading provider of modification and maintenance services, products and automation 5,0 systems to the oil & gas, land-based and marine industries. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003101404 Revenue 169 733 185 908 213 275 322 138 297 275 310 758 307 021 343 100 Round Lot 500,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 43 920,89 Operating Costs 161 292 175 710 198 502 299 324 281 136 288 285 286 129 322 000 Number of Shares 43 920,89 EBITDA 8 441 10 198 14 773 22 814 16 139 22 473 20 892 21 100 Currency NOK Depreciation 3 033 2 871 2 877 5 415 3 936 3 798 3 784 3 900 Gics 10 EBIT 5 408 7 327 11 896 17 399 12 203 18 675 17 108 17 200 Listed From 17-12-04 Net Financials 100 -208 322 -541 -1 066 -800 -2 155 -1 200 Par Value 1,00 Pre Tax Profit 5 508 7 119 12 218 16 858 11 137 17 875 14 953 16 000 Number of days traded 219 Tax 1 542 2 053 3 481 3 489 3 118 5 011 4 182 4 800 Avg. Trades pr Day 9,32 Minority Interests 0 0 0 0 0 0 0 0 Net Income 3 966 5 066 8 737 13 369 8 019 12 864 10 771 11 200 Key Figures 2006 EPS 0,09 0,12 0,20 0,30 0,18 0,29 0,25 0,26 (Preliminary figures) Price Book 2,41 2,39 2,79 2,79 3,25 3,69 3,54 3,78 Long Term Fixed Assets 82 887 83 806 81 163 225 828 223 190 225 797 222 850 225 900 Operating result per Share 1,49 Current Assets 0 0 0 331 630 340 297 0 0 412 400 BVPS 4,89 Cash 263 272 251 709 269 621 0 0 348 383 340 600 0 Gross Margin 1,00 Total Assets 346 159 335 515 350 784 557 458 563 487 574 180 563 450 638 300 EBITDA Margin 0,06 Total Equity 173 024 165 619 181 316 185 850 193 193 192 881 203 653 214 700 EBITDA 80 700 Long term debt 26 783 18 993 18 508 115 959 87 615 80 566 120 293 114 300 EBITA 65 300 Short term debt 123 833 126 458 125 568 255 649 282 679 300 733 239 504 309 300 Net Margin 0,03 Total Liability and Equity 346 159 335 515 350 784 557 458 563 487 574 180 563 450 638 300 ROE 12,44 Net Interestbearing Debt -236 489 -232 716 -251 113 115 959 87 615 -267 817 -220 307 114 300 Chg Operating Activities -1 944 -1 767 32 363 -12 167 -10 826 -2 961 -2 638 22 700 Chg Investing activities -213 -3 455 -2 304 -134 496 -2 332 -8 730 -9 286 -9 100 Chg Financing activities 3 695 -20 772 -44 755 87 210 -6 863 -399 -6 945 -14 400 Chg Cash and Liquids 1 538 -25 994 -14 696 -59 453 -20 021 -12 090 -18 869 -800

Company: Bonheur ASA Share Price 300 250 Ticker: BON 200 150 Company Presentation: The Company is involved in a number of activities 100 both in Norway and internationally. The activities are based on long term 50 investments within shipping, offsh. and energy as well as transp. & leisure 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003110603 Revenue 200 400 300 400 400 200 400 1 586 000 Round Lot 50,00 Other Income 0 0 231 800 0 0 0 340 000 0 Reg.Share Capital (mill) 50 986,64 Operating Costs 5 000 4 500 4 700 15 100 7 400 6 200 5 800 1 072 500 Number of Shares 40 789,31 EBITDA -4 800 -4 100 227 400 -14 700 -7 000 -6 000 334 600 513 500 Currency NOK Depreciation 900 900 700 700 700 700 700 189 200 Gics 10 EBIT -5 700 -5 000 226 700 -15 400 -7 700 -6 700 333 900 324 300 Listed From 02-01-80 Net Financials -41 600 240 200 91 000 584 000 163 000 163 700 7 000 -67 100 Par Value 1,25 Pre Tax Profit -47 300 400 000 317 700 568 600 155 300 157 000 340 900 257 200 Number of days traded 244 Tax 22 200 49 600 9 600 -4 500 -1 000 -14 300 1 600 -37 800 Avg. Trades pr Day 13,34 Minority Interests 0 0 0 0 0 0 0 132 100 Net Income -69 500 350 400 308 100 573 100 156 300 171 300 339 300 162 900 Key Figures 2006 EPS -1,70 8,59 7,31 14,08 3,84 4,20 8,32 5,04 (Preliminary figures) Price Book 1,11 1,16 1,40 1,47 1,78 1,76 1,78 2,12 Long Term Fixed Assets 3 804 700 3 941 200 4 355 400 4 668 500 4 681 100 4 174 900 4 795 500 13 237 900 Operating result per Share 9,40 Current Assets 34 600 39 900 42 700 65 200 58 700 475 000 362 900 1 909 700 BVPS 126,66 Cash 87 000 99 100 72 400 168 200 128 300 238 000 147 700 3 581 200 Gross Margin 1,00 Total Assets 3 926 300 4 080 200 4 470 500 4 901 900 4 868 100 4 887 900 5 306 100 18 728 800 EBITDA Margin 0,31 Total Equity 3 573 900 3 762 800 4 168 900 4 501 800 4 530 600 4 571 700 4 759 000 8 961 800 EBITDA 495 100 Long term debt 238 400 156 500 152 700 318 500 0 170 000 378 100 6 911 600 EBITA 303 900 Short term debt 80 100 45 800 148 900 81 500 94 400 94 600 149 100 2 091 700 Net Margin 0,52 Total Liability and Equity 3 926 300 4 080 200 4 470 500 4 901 800 4 868 100 4 887 900 5 326 300 18 728 800 ROE 7,98 Net Interestbearing Debt 224 300 91 100 201 400 150 300 -128 300 13 900 316 800 3 962 700 Chg Operating Activities 116 900 6 200 -20 300 1 400 -11 200 112 600 234 700 536 700 Chg Investing activities -92 700 214 200 217 600 221 700 39 900 44 300 -89 700 -3 061 700 Chg Financing activities 20 700 -163 400 -167 100 -97 000 -68 500 -87 000 -165 400 -185 400 Chg Cash and Liquids 44 900 57 000 30 200 126 100 -39 800 69 900 -20 400 -2 710 400

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 38 Share Price 30,0 Company: BW Offshore Limited 25,0 Ticker: BWO 20,0 15,0 Company Presentation: BW Offshore (BWO) develops, owns and operates oil 10,0 and gas FPSOs. BW Offshore is one of the leading players in the FPSO market, 5,0 and has a fleet of six FPSOs, one arctic FSO and three conversion hulls. The 0 Period company has a long and solid track record in conversions and operations. May 06 Aug 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG1190N1002 Revenue 121 468 1 264 658 650 917 804 088 Round Lot 500,00 Other Income 7 821 7 458 0 -642 Reg.Share Capital (mill) 2 050,66 Operating Costs 81 742 1 238 975 530 728 725 734 Number of Shares 205 065,79 EBITDA 47 547 33 142 120 189 77 711 Currency USD Depreciation 30 544 51 111 52 504 34 681 Gics 10 EBIT 17 004 -17 970 67 685 43 030 Listed From 31-05-06 Net Financials -33 160 -9 832 12 019 -7 065 Par Value 0,01 Pre Tax Profit -16 156 -27 802 79 704 35 966 Number of days traded 140 Tax 10 123 11 427 9 489 13 487 Avg. Trades pr Day 10,53 Minority Interests 0 0 0 0 Net Income -26 280 -39 229 70 216 22 479 Key Figures 2006 EPS 0,00 -0,19 0,34 0,11 (Preliminary figures) Price Book 0,00 1,96 1,97 2,24 Long Term Fixed Assets 3 176 780 2 696 729 2 793 118 2 755 997 Operating result per Share 0,53 Current Assets 120 229 1 285 360 1 918 236 2 504 542 BVPS 11,69 Cash 224 345 495 260 758 448 237 694 Gross Margin 1,00 Total Assets 3 521 354 4 477 349 5 469 802 5 498 233 EBITDA Margin 0,10 Total Equity -588 607 2 301 286 2 493 902 2 398 205 EBITDA 279 186 Long term debt 0 0 2 578 463 2 637 150 EBITA 109 107 Short term debt 4 078 129 2 138 016 369 467 396 573 Net Margin 0,01 Total Liability and Equity 3 521 354 4 477 349 5 468 501 5 498 233 ROE 1,85 Net Interestbearing Debt -224 345 -495 260 1 820 015 2 399 456 Chg Operating Activities -53 246 -74 090 -66 420 36 608 Chg Investing activities -351 904 -1 165 894 -1 638 995 -721 881 Chg Financing activities 387 987 1 505 946 2 210 840 180 470 Chg Cash and Liquids -17 164 265 961 505 425 -504 803 Share Price Company: CanArgo Energy Corporation 16.0 Ticker: CNR 12.0 8.0 Company Presentation: CanArgo Energy Corporation is an Oil and Gas exploration, development and production company that is focussed in the 4.0 Caspian Region, primarily Georgia and Kazakhstan. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin US1372251082 Revenue 8 382 7 884 16 679 16 148 4 664 8 120 13 221 15 632 Round Lot 1 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 39 596,96 Operating Costs 19 033 18 691 22 501 32 899 24 036 23 915 30 756 282 780 Number of Shares 197 984,81 EBITDA -10 651 -10 806 -5 822 -16 751 -19 372 -15 796 -17 535 -267 147 Currency USD Depreciation 3 217 3 319 10 927 9 778 5 418 4 480 4 561 10 147 Gics 10 EBIT -13 868 -14 125 -16 750 -26 529 -24 790 -20 276 -22 096 -277 295 Listed From 04-08-98 Net Financials -1 678 -301 -2 262 -4 393 -12 160 -964 -13 967 -22 369 Par Value 0,20 Pre Tax Profit -15 546 -14 426 -19 012 -30 922 -36 950 -16 855 -36 063 -299 664 Number of days traded 251 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 434,96 Minority Interests 0 0 0 0 519 0 0 0 Net Income -15 546 -14 426 -19 012 -30 922 -37 468 -16 855 -36 063 -299 664 Key Figures 2006 EPS -0,08 -0,07 -0,09 -0,14 -0,17 -0,08 -0,16 -1,28 (Preliminary figures) Price Book 2,30 1,87 3,38 2,32 2,01 1,24 0,00 3,96 Long Term Fixed Assets 492 458 658 256 720 505 807 472 0 845 799 908 004 701 553 Operating result per Share -1,52 Current Assets 43 973 74 187 64 020 65 066 35 898 46 674 47 569 49 265 BVPS 2,57 Cash 111 753 123 132 176 746 125 495 144 274 120 408 114 704 102 909 Gross Margin 0,61 Total Assets 648 184 855 575 961 270 998 033 180 171 1 012 881 1 070 277 853 727 EBITDA Margin -7,63 Total Equity 619 099 721 171 731 978 729 995 716 933 713 895 0 509 722 EBITDA -319 652 Long term debt 5 475 5 878 163 533 179 533 208 437 231 912 270 309 264 566 EBITA -344 246 Short term debt 20 869 123 734 58 309 88 505 82 424 62 086 69 060 79 440 Net Margin -9,28 Total Liability and Equity 648 184 855 575 961 270 998 033 1 026 892 1 012 881 339 370 853 727 ROE -36,44 Net Interestbearing Debt -106 277 -117 254 -13 213 54 038 64 163 111 504 155 605 161 657 Chg Operating Activities 0 0 0 0 0 0 0 0 Chg Investing activities 0 0 0 0 0 0 0 0 Chg Financing activities 0 0 0 0 0 0 0 0 Chg Cash and Liquids 0 0 0 0 0 0 0 0

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 39 Share Price 7.0 Company: CorrOcean ASA 6.0 Ticker: COR 5.0 4.0 3.0 Company Presentation: CorrOcean is a leading provider of advanced 2.0 sensors and measurement solutions to the oil and gas industry and 1.0 associated markets. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003073801 Revenue 49 350 65 891 54 967 39 745 30 871 42 513 38 487 40 019 Round Lot 2 000,00 Other Income 0 0 0 0 0 4 749 0 0 Reg.Share Capital (mill) 52 184,02 Operating Costs 52 543 56 349 50 458 36 786 29 946 36 107 32 176 34 448 Number of Shares 52 184,02 EBITDA -3 193 9 542 4 509 2 959 925 11 155 6 311 5 571 Currency NOK Depreciation 621 603 1 013 436 274 326 289 155 Gics 10 EBIT -3 814 8 939 3 496 2 523 651 10 829 6 022 5 416 Listed From 11-06-97 Net Financials 196 -670 -646 2 049 -836 -593 910 -742 Par Value 1,00 Pre Tax Profit -3 618 8 269 2 850 7 051 2 329 10 236 6 932 4 674 Number of days traded 248 Tax -571 2 072 548 1 428 347 1 235 1 513 1 204 Avg. Trades pr Day 32,45 Minority Interests 0 0 0 372 377 0 0 0 Net Income -3 047 6 197 2 302 5 251 1 605 9 001 5 419 3 470 Key Figures 2006 EPS -0,06 0,12 0,04 0,10 0,03 0,17 0,10 0,07 (Preliminary figures) Price Book 3,52 2,73 3,33 2,96 3,45 3,04 3,21 3,73 Long Term Fixed Assets 34 954 33 283 32 624 27 486 27 358 26 764 25 436 25 122 Operating result per Share 0,35 Current Assets 95 009 116 127 96 212 115 116 115 339 84 142 86 572 97 417 BVPS 1,57 Cash 8 307 4 832 5 133 3 563 4 967 2 867 2 753 2 971 Gross Margin 0,56 Total Assets 138 270 154 242 133 969 146 165 147 664 113 773 114 761 125 510 EBITDA Margin 0,13 Total Equity 54 761 61 100 62 932 67 767 67 840 77 256 82 898 85 998 EBITDA 19 641 Long term debt 0 14 464 14 464 13 140 12 140 6 140 6 140 5 578 EBITA 18 168 Short term debt 68 045 78 678 56 573 65 257 67 684 30 376 25 722 33 934 Net Margin 0,10 Total Liability and Equity 138 270 154 242 133 969 146 164 147 664 113 772 114 760 125 510 ROE 12,31 Net Interestbearing Debt 17 758 34 527 28 703 31 256 29 963 8 002 9 073 7 073 Chg Operating Activities -2 043 -924 6 642 -2 505 5 730 19 553 -364 1 313 Chg Investing activities -65 -521 -1 047 -507 -958 -1 354 -505 426 Chg Financing activities 4 084 -2 030 -5 293 1 307 -594 -22 939 755 -1 521 Chg Cash and Liquids 1 976 -3 475 302 -1 705 4 178 -4 740 -114 218

Share Price 35.0 Company: DeepOcean ASA 30.0 Ticker: DEEP 25.0 20.0 15.0 Company Presentation: DeepOcean operates a fleet of purpose built DP 10.0 vessels, ROVs, trenching equipment and module handling systems. The 5.0 Group provides services to the global offshore oil and gas industry within IMR, 0 Period Trenching and installation of cables and flexible products, and Survey, ROV Dec 05 Jun 06 Dec 06 and construction support.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010279821 Revenue 160 000 195 000 184 900 371 900 348 600 574 300 Round Lot 200,00 Other Income 0 0 0 0 0 0 Reg.Share Capital (mill) 44 073,55 Operating Costs 130 000 166 000 156 600 295 200 281 200 478 000 Number of Shares 88 147,09 EBITDA 30 000 29 000 28 300 76 700 67 400 96 300 Currency NOK Depreciation 9 000 11 000 12 800 18 600 17 300 37 800 Gics 10 EBIT 21 000 18 000 15 500 58 100 50 100 58 500 Listed From 07-12-05 Net Financials -2 000 5 000 -1 700 -3 400 0 -14 900 Par Value 0,50 Pre Tax Profit 19 000 23 000 13 800 54 700 50 100 43 600 Number of days traded 241 Tax 5 000 6 000 3 900 15 300 14 000 14 400 Avg. Trades pr Day 16,50 Minority Interests 0 0 0 0 0 0 Net Income 14 000 17 000 9 900 39 400 36 100 29 200 Key Figures 2006 EPS 0,34 0,24 0,14 0,57 0,52 0,35 (Preliminary figures) Price Book 0,00 1,99 2,21 2,03 2,41 2,25 Long Term Fixed Assets 514 000 555 000 582 900 598 300 631 000 1 952 600 Operating result per Share 2,49 Current Assets 204 000 247 000 181 400 359 400 373 400 652 600 BVPS 13,10 Cash 0 267 000 189 100 100 800 114 000 98 400 Gross Margin 0,40 Total Assets 718 000 1 069 000 953 400 1 058 500 1 118 400 2 703 600 EBITDA Margin 0,18 Total Equity 360 000 648 000 653 900 657 900 707 300 1 154 600 EBITDA 268 700 Long term debt 177 000 150 000 93 600 81 800 152 400 737 700 EBITA 182 300 Short term debt 181 000 271 000 161 500 260 800 258 700 712 800 Net Margin 0,08 Total Liability and Equity 718 000 1 069 000 953 300 1 058 400 1 118 400 2 703 600 ROE 7,37 Net Interestbearing Debt 177 000 -117 000 -95 500 -19 000 38 400 921 100 Chg Operating Activities 8 000 85 000 -19 100 -7 900 53 000 27 200 Chg Investing activities -292 000 -41 000 -51 100 -54 700 -34 500 -1 058 800 Chg Financing activities 282 000 207 000 -7 500 -26 200 -6 100 1 016 000 Chg Cash and Liquids -3 000 251 000 -78 500 -88 300 13 200 -15 600

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 40 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 41 Company: Deep Sea Supply Plc Share Price 20,0 16,0 Ticker: DESSC 12,0 8,0 Company Presentation: Deep Sea Supply Plc is a shipowner and operator with a fleet of 9 modern supply vessels in operation and 18 ship building contracts. 4,0 The current fleet of vessels currently operates in the North Sea, West Africa 0 Period and in the West Indies. Sep 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CY0100120910 Revenue 39 380 82 474 57 761 79 965 153 620 181 334 Round Lot 500,00 Other Income 0 0 0 56 863 0 25 996 Reg.Share Capital (mill) 130 389,64 Operating Costs 24 971 39 963 53 254 44 352 42 044 67 772 Number of Shares 130 389,64 EBITDA 14 410 42 511 4 507 92 476 111 576 139 558 Currency NOK Depreciation 9 469 14 203 14 273 14 357 16 493 19 283 Gics 10 EBIT 4 941 28 308 -9 766 78 120 95 083 120 275 Listed From 15-09-05 Net Financials -8 245 -17 438 -9 877 -20 204 -15 580 7 172 Par Value 1,00 Pre Tax Profit -3 303 10 870 -19 642 57 916 79 503 127 447 Number of days traded 250 Tax 0 0 0 0 0 39 Avg. Trades pr Day 119,66 Minority Interests Net Income -3 303 10 870 -19 642 57 916 79 503 127 408 Key Figures 2006 EPS -0,07 0,23 -0,33 0,45 0,61 0,98 (Preliminary figures) Price Book 1,29 1,09 1,43 4,41 1,16 1,47 Long Term Fixed Assets 1 225 917 1 214 079 1 214 079 2 040 146 2 286 111 2 271 285 Operating result per Share 2,65 Current Assets 43 625 77 962 77 962 9 681 259 547 225 221 BVPS 13,65 Cash 76 526 57 397 57 397 57 958 181 255 321 540 Gross Margin 0,70 Total Assets 1 346 068 1 349 439 1 349 439 2 107 785 2 726 913 2 818 046 EBITDA Margin 0,63 Total Equity 419 712 433 296 433 296 413 654 1 652 103 1 779 772 EBITDA 348 119 Long term debt 847 051 836 335 836 335 833 315 954 596 907 631 EBITA 283 714 Short term debt 79 305 79 807 79 807 860 817 120 214 130 644 Net Margin 0,44 Total Liability and Equity 1 346 068 1 349 439 1 349 439 2 107 785 2 726 913 2 818 047 ROE 8,22 Net Interestbearing Debt 770 525 778 938 835 878 832 296 773 341 660 061 Chg Operating Activities -14 420 -7 751 8 653 17 376 -33 224 204 695 Chg Investing activities -1 235 346 -2 530 -5 072 -791 501 -1 063 838 -1 121 801 Chg Financing activities 1 326 108 -8 848 -3 021 -14 235 1 220 919 1 181 249 Chg Cash and Liquids 76 341 -19 129 561 -788 360 123 857 264 143 Share Price Company: DNO ASA 16.0 Ticker: DNO 12.0 8.0 Company Presentation: DNO is an international independent petroleum company engaged in the acquisition, exploration, development and operation 4.0 of oil and natural gas properties. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003921009 Revenue 299 800 318 800 432 200 242 600 415 100 359 000 283 700 277 500 Round Lot 1 000,00 Other Income 1 200 2 500 1 400 7 000 4 700 3 000 2 200 6 500 Reg.Share Capital (mill) 226 214,23 Operating Costs 86 900 122 800 193 000 212 800 354 500 230 300 197 800 285 600 Number of Shares 904 856,91 EBITDA 214 100 198 500 240 600 36 800 65 300 131 700 88 100 -1 600 Currency NOK Depreciation 31 500 31 100 0 0 0 0 0 0 Gics 10 EBIT 182 600 167 400 240 600 36 800 65 300 131 700 88 100 -1 600 Listed From 04-01-82 Net Financials 55 300 20 400 5 300 47 600 -66 600 -19 100 -6 000 -27 200 Par Value 0,25 Pre Tax Profit 268 100 187 800 245 900 84 400 -1 300 112 600 82 100 -28 800 Number of days traded 251 Tax 124 300 211 500 237 500 -84 600 27 800 37 400 35 700 2 400 Avg. Trades pr Day 1 961,33 Minority Interests 0 0 0 0 0 0 0 0 Net Income 143 800 -23 700 8 400 169 000 -29 100 75 200 46 400 -31 200 Key Figures 2006 EPS 0,15 -0,03 0,01 0,19 -0,03 0,08 0,05 -0,04 (Preliminary figures) Price Book 4,27 9,51 13,03 13,91 13,88 14,62 10,37 14,36 Long Term Fixed Assets 686 900 790 400 1 025 300 1 299 400 1 453 100 1 552 900 1 906 900 2 398 300 Operating result per Share 0,32 Current Assets 168 600 160 200 179 400 599 000 697 100 517 800 553 300 479 200 BVPS 0,80 Cash 894 500 1 136 000 1 056 400 1 081 500 783 600 829 800 506 500 418 000 Gross Margin 0,67 Total Assets 1 750 000 2 086 600 2 261 100 2 979 900 2 933 800 2 900 500 2 966 700 3 295 500 EBITDA Margin 0,21 Total Equity 567 300 602 100 717 200 967 400 787 400 773 800 792 400 724 500 EBITDA 283 300 Long term debt 500 000 882 200 938 700 1 396 500 1 530 900 1 511 100 1 626 700 1 754 300 EBITA 283 300 Short term debt 659 400 560 500 605 200 475 000 448 500 424 500 352 400 591 400 Net Margin 0,05 Total Liability and Equity 1 750 000 2 086 600 2 261 100 2 979 800 2 933 700 2 900 500 2 966 700 3 295 400 ROE 4,20 Net Interestbearing Debt -194 500 -98 800 -117 700 315 000 747 300 681 300 1 138 100 1 392 000 Chg Operating Activities 18 200 -14 800 51 500 44 100 106 700 50 100 -37 200 187 800 Chg Investing activities -40 500 -94 900 -219 200 -452 500 -329 100 39 100 -302 500 -463 700 Chg Financing activities 138 000 316 700 94 800 432 700 -54 500 800 -13 000 212 500 Chg Cash and Liquids 115 700 207 000 -72 900 24 300 -276 900 90 000 -323 300 -63 400

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 42 Share Price Company: DOF ASA 80.0 Ticker: DOF 60.0 40.0 Company Presentation: DOF ASA is an international supplier of offshore- and subsea services. The company is engaged in long-term, industry-related 20.0 offshore activities via the ownership and operation of highly specified vessels. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010070063 Revenue 259 000 418 660 442 497 481 447 610 804 712 448 847 805 839 821 Round Lot 100,00 Other Income 0 5 381 0 0 0 0 0 0 Reg.Share Capital (mill) 153 535,95 Operating Costs 123 000 218 199 220 491 265 241 361 096 421 006 476 409 460 236 Number of Shares 76 767,98 EBITDA 136 000 205 842 222 006 216 206 249 708 291 442 371 396 379 585 Currency NOK Depreciation 68 000 83 753 86 491 97 403 86 471 101 365 110 938 118 236 Gics 10 EBIT 68 000 122 089 135 515 118 803 163 237 190 077 260 458 261 349 Listed From 04-10-00 Net Financials -37 000 -23 620 -18 322 -77 978 25 129 -22 188 -80 252 -71 377 Par Value 2,00 Pre Tax Profit 31 000 98 469 117 193 40 825 188 366 167 889 180 206 189 972 Number of days traded 250 Tax -2 000 6 570 11 456 -3 364 14 946 33 229 19 514 1 563 Avg. Trades pr Day 30,86 Minority Interests 0 0 0 0 0 0 0 90 952 Net Income 33 000 91 899 105 737 44 189 173 420 134 660 160 692 97 457 Key Figures 2006 EPS 0,44 1,22 1,40 0,59 2,30 1,79 2,13 1,27 (Preliminary figures) Price Book 1,41 1,68 2,04 1,71 1,93 2,23 2,17 2,11 Long Term Fixed Assets 4 025 000 4 972 753 5 270 057 5 859 806 6 957 378 7 275 046 7 627 577 8 333 946 Operating result per Share 11,55 Current Assets 0 1 002 358 386 289 644 608 772 938 858 236 958 522 753 921 BVPS 32,16 Cash 1 105 000 995 927 1 079 988 1 345 433 900 886 1 043 595 1 007 965 1 552 896 Gross Margin 1,00 Total Assets 5 130 000 6 971 038 6 736 334 7 849 847 8 631 202 9 176 877 9 594 064 10 640 763 EBITDA Margin 0,43 Total Equity 1 222 000 2 009 237 2 052 287 2 087 436 2 428 819 2 464 205 2 640 551 3 290 861 EBITDA 1 292 131 Long term debt 0 4 503 720 4 238 722 5 100 631 5 318 329 5 869 638 5 942 409 5 646 239 EBITA 875 121 Short term debt 113 000 213 602 212 470 508 140 813 312 781 574 949 645 1 472 348 Net Margin 0,15 Total Liability and Equity 5 130 000 6 971 038 6 736 334 7 849 847 8 631 204 9 176 876 9 594 064 10 640 763 ROE 15,89 Net Interestbearing Debt -1 105 000 3 507 793 3 158 734 3 755 198 4 417 443 4 826 043 4 934 444 4 093 343 Chg Operating Activities 0 0 175 672 105 601 142 871 167 340 315 742 162 279 Chg Investing activities 0 0 -354 136 -693 462 -958 326 -501 809 -486 460 -87 704 Chg Financing activities 0 0 262 525 853 306 370 908 477 179 135 088 294 231 Chg Cash and Liquids 0 0 84 061 265 445 -444 547 142 710 -35 630 368 806 Share Price Company: DOF Subsea ASA 70,0 60,0 Ticker: DOFSUB 50,0 40,0 30,0 Company Presentation: DOF Subsea is a worldwide subsea services 20,0 contractor providing offshore survey, inspection, maintance and repair of 10,0 subsea installations and construction support with ROV`s. 0 Period Nov 05 May 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010274608 Revenue 189 179 190 720 366 346 437 238 547 036 537 861 Round Lot 200,00 Other Income 0 0 0 0 0 0 Reg.Share Capital (mill) 432 842,24 Operating Costs 110 112 133 776 248 623 278 331 341 659 273 665 Number of Shares 86 568,45 EBITDA 79 067 56 945 117 723 158 908 205 377 264 196 Currency NOK Depreciation 25 663 40 192 34 670 48 230 57 226 55 353 Gics 10 EBIT 53 404 16 753 83 053 110 678 148 151 208 843 Listed From 07-11-05 Net Financials -14 395 -10 949 -2 547 -10 108 -35 468 -28 589 Par Value 5,00 Pre Tax Profit 39 009 5 804 80 506 100 570 112 683 180 253 Number of days traded 241 Tax 5 174 -6 164 13 308 24 859 14 829 1 419 Avg. Trades pr Day 24,87 Minority Interests 0 0 0 0 0 0 Net Income 33 835 11 968 67 198 75 711 97 854 178 834 Key Figures 2006 EPS 0,43 0,15 0,80 0,88 1,14 2,07 (Preliminary figures) Price Book 0,00 2,62 2,68 2,57 2,74 2,89 Long Term Fixed Assets 1 777 652 2 276 372 3 023 396 3 304 511 3 450 304 3 403 221 Operating result per Share 6,43 Current Assets 278 693 360 361 457 472 540 141 522 596 384 690 BVPS 19,89 Cash 244 339 211 569 77 186 151 883 197 085 290 589 Gross Margin 1,00 Total Assets 2 300 684 2 848 302 3 558 054 3 996 535 4 169 985 4 078 500 EBITDA Margin 0,40 Total Equity 952 189 1 000 186 1 336 457 1 400 543 1 531 560 1 721 428 EBITDA 746 203 Long term debt 1 148 629 1 505 703 1 705 770 2 098 788 2 089 421 1 806 508 EBITA 550 724 Short term debt 140 087 337 255 512 872 492 799 544 600 542 594 Net Margin 0,22 Total Liability and Equity 2 300 684 2 848 302 3 558 054 3 996 535 4 169 985 4 078 500 ROE 17,93 Net Interestbearing Debt 904 290 1 294 134 1 628 584 1 946 905 1 892 336 1 515 919 Chg Operating Activities 24 619 -15 150 77 106 21 802 214 795 234 840 Chg Investing activities -282 600 -450 515 -781 694 -352 667 -200 225 132 727 Chg Financing activities 419 234 433 306 468 763 405 562 30 633 -274 063 Chg Cash and Liquids 161 253 -32 359 -235 825 74 697 45 203 93 504

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 43 Share Price 140.0 Company: Eastern Drilling ASA 120.0 Ticker: EDRILL 100.0 80.0 60.0 Company Presentation: Eastern Drilling has two semi submersible offshore 40.0 drilling rigs for harsh environment and ultra deep water under construction. 20.0 Delivery of the rigs are expected respectively in 1st Quarter 2008 and 3rd 0 Period Quarter 2008. Jun 05 Mar 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010265168 Revenue 0 0 0 0 62 308 0 0 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 33 594,00 Operating Costs 1 726 2 359 3 574 802 2 717 7 281 8 305 Number of Shares 33 594,00 EBITDA -1 726 -2 359 -3 574 -802 59 591 -7 281 -8 305 Currency NOK Depreciation 0 0 0 0 0 0 0 Gics 10 EBIT -1 726 -2 359 -3 574 -802 59 591 -7 281 -8 305 Listed From 28-06-05 Net Financials -64 8 323 9 747 986 8 424 12 702 7 721 Par Value 1,00 Pre Tax Profit -1 790 5 965 6 173 184 68 015 5 421 -584 Number of days traded 246 Tax 0 0 0 0 0 0 0 Avg. Trades pr Day 42,54 Minority Interests 0 0 0 0 0 0 0 Net Income -1 790 5 965 6 173 184 68 015 5 421 -584 Key Figures 2006 EPS -0,09 0,30 0,31 0,01 3,08 0,16 0,00 (Preliminary figures) Price Book 1,09 1,29 1,43 11,52 1,20 1,19 1,71 Long Term Fixed Assets 35 441 583 935 893 638 193 289 1 254 423 2 432 797 3 444 659 Operating result per Share 1,48 Current Assets 0 1 006 444 762 095 63 774 1 521 029 652 708 107 850 BVPS 76,26 Cash 1 277 282 0 0 0 0 Gross Margin 0,94 Total Assets 1 312 722 1 590 380 1 655 732 257 063 2 775 452 3 085 504 3 552 509 EBITDA Margin 0,63 Total Equity 1 240 767 1 348 502 1 402 366 207 437 2 527 080 2 659 512 2 532 434 EBITDA 40 543 Long term debt 0 190 129 204 191 31 311 202 822 372 693 928 520 EBITA 40 543 Short term debt 71 955 11 912 8 292 12 313 8 352 14 870 314 632 Net Margin 1,28 Total Liability and Equity 1 312 722 1 590 380 1 655 732 257 063 2 775 452 3 085 498 3 806 122 ROE 2,42 Net Interestbearing Debt -1 277 282 190 129 204 191 31 311 202 822 372 693 928 520 Chg Operating Activities 67 511 14 307 -365 10 654 59 903 101 756 99 185 Chg Investing activities -34 619 -576 867 -828 916 -60 625 -421 426 -1 557 684 -2 714 435 Chg Financing activities 1 213 575 1 533 203 1 573 495 1 175 1 176 274 1 370 879 2 002 857 Chg Cash and Liquids 1 246 467 970 643 744 214 -48 796 814 751 -85 049 -612 394

Share Price 70.0 Company: Eidesvik Offshore ASA 60.0 Ticker: EIOF 50.0 40.0 30.0 Company Presentation: Eidesvik operates a modern fleet of highly 20.0 specialised offshore support vessels. We focus on quality and safe operations 10.0 to support our clients objectives and our operational and financial targets. 0 Period Jun 05 Mar 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010263023 Revenue 143 760 166 400 189 727 176 914 179 870 191 572 185 361 196 540 Round Lot 200,00 Other Income 3 092 -7 42 -863 16 18 3 102 612 Reg.Share Capital (mill) 1 507,50 Operating Costs 83 984 97 812 93 921 106 606 91 999 103 559 110 099 122 317 Number of Shares 30 150,00 EBITDA 62 868 68 581 95 848 69 445 87 887 88 031 75 265 176 835 Currency NOK Depreciation 27 188 29 063 28 826 -11 614 36 813 39 872 37 761 35 319 Gics 10 EBIT 35 680 39 518 67 022 81 059 51 074 48 159 37 504 141 516 Listed From 27-06-05 Net Financials -885 -18 746 3 522 -4 403 8 666 26 572 -35 883 38 196 Par Value 0,05 Pre Tax Profit 34 795 20 772 70 544 76 656 59 740 74 731 1 621 179 712 Number of days traded 196 Tax 58 826 7 438 55 174 3 406 4 012 2 181 9 841 Avg. Trades pr Day 5,59 Minority Interests 0 1 820 0 -487 1 499 0 1 619 874 Net Income 34 737 18 126 63 106 21 969 54 835 70 719 -2 179 168 997 Key Figures 2006 EPS 1,59 0,61 2,09 0,73 1,82 2,35 -0,07 5,61 (Preliminary figures) Price Book 0,00 1,23 1,18 1,19 1,36 1,23 1,34 1,20 Long Term Fixed Assets 1 990 944 1 984 435 2 097 040 2 434 460 2 515 054 2 686 753 2 679 143 2 875 531 Operating result per Share 9,23 Current Assets 162 556 184 834 233 788 181 906 211 542 231 101 372 674 392 698 BVPS 52,12 Cash 466 175 269 471 160 434 452 049 231 458 146 094 233 288 117 152 Gross Margin 1,00 Total Assets 2 619 675 2 438 740 2 491 262 3 068 415 2 958 054 3 063 948 3 285 105 3 385 381 EBITDA Margin 0,50 Total Equity 1 279 377 1 293 798 1 349 890 1 346 063 1 402 015 1 477 585 1 442 540 1 571 272 EBITDA 428 078 Long term debt 1 088 726 926 370 948 401 927 959 896 479 921 209 925 161 794 846 EBITA 278 314 Short term debt 213 055 180 055 192 971 780 279 634 044 641 244 903 298 977 985 Net Margin 0,34 Total Liability and Equity 2 619 675 2 438 740 2 491 262 3 068 415 2 958 053 3 063 950 3 285 113 3 385 381 ROE 11,93 Net Interestbearing Debt 622 551 656 899 787 967 475 910 665 021 775 115 691 873 677 694 Chg Operating Activities 31 339 60 054 49 103 132 461 39 013 63 693 24 405 62 628 Chg Investing activities 1 119 -20 053 -137 565 -208 263 -240 542 -105 836 -117 143 -129 228 Chg Financing activities 289 485 -236 705 -20 575 367 417 -19 062 -43 221 179 932 -49 537 Chg Cash and Liquids 321 943 -196 704 -109 037 291 615 -220 591 -85 364 87 194 -116 137

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 44 Share Price Company: Farstad Shipping ASA 160.0

Ticker: FAR 120.0 80.0 Company Presentation: Farstad Shipping aim to be one of the leading operators of large, modern anchor handling vessels and platform supply 40.0 vessels. The company’s fleet consists of 48 vessels and 12 vessels under construction. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003215303 Revenue 382 138 425 371 429 278 417 050 416 951 437 646 536 826 549 487 Round Lot 100,00 Other Income 0 0 0 64 403 0 0 0 0 Reg.Share Capital (mill) 39 000,00 Operating Costs 22 555 218 060 208 387 221 425 223 493 228 734 237 679 263 897 Number of Shares 39 000,00 EBITDA 170 299 207 311 220 891 260 028 193 458 208 912 299 147 285 590 Currency NOK Depreciation 101 564 104 181 107 602 69 830 68 562 67 923 72 582 77 292 Gics 10 EBIT 68 735 103 130 113 289 190 198 124 896 140 989 226 565 208 298 Listed From 05-06-85 Net Financials -87 825 -29 592 -16 939 -49 555 -10 870 -26 353 -36 770 -51 894 Par Value 1,00 Pre Tax Profit -19 090 73 538 216 973 140 643 114 026 114 636 189 795 156 404 Number of days traded 237 Tax -3 808 3 508 2 246 -13 746 11 153 4 174 3 546 12 727 Avg. Trades pr Day 12,57 Minority Interests 0 0 0 0 0 0 133 586 Net Income -15 282 70 030 214 727 154 389 102 873 110 462 186 116 143 091 Key Figures 2006 EPS -0,39 1,80 5,51 3,96 2,64 2,83 4,77 3,67 (Preliminary figures) Price Book 1,39 1,47 1,46 1,23 1,26 1,42 1,40 1,50 Long Term Fixed Assets 5 278 383 5 317 456 5 257 385 5 712 550 5 756 814 5 984 421 6 273 727 6 620 345 Operating result per Share 17,97 Current Assets 570 797 566 657 705 929 677 125 709 621 639 642 454 606 482 109 BVPS 90,61 Cash 572 173 366 264 657 693 892 503 767 337 774 303 1 034 477 972 286 Gross Margin 0,57 Total Assets 6 421 353 6 250 377 6 621 007 7 282 178 7 233 772 7 398 366 7 762 810 8 074 740 EBITDA Margin 0,51 Total Equity 2 372 744 2 247 774 2 462 501 3 086 023 3 189 835 3 206 759 3 342 598 3 533 712 EBITDA 987 107 Long term debt 3 057 503 3 292 258 3 517 936 3 294 921 3 171 868 3 279 056 3 183 632 3 582 404 EBITA 700 748 Short term debt 657 222 621 818 553 203 831 249 801 526 843 470 911 319 879 168 Net Margin 0,28 Total Liability and Equity 6 421 353 6 250 377 6 621 007 7 282 178 7 233 772 7 398 366 7 762 810 8 074 740 ROE 9,54 Net Interestbearing Debt 2 881 719 3 290 451 2 860 243 2 402 418 2 924 523 2 504 753 2 760 484 3 169 437 Chg Operating Activities 198 494 116 603 121 114 246 096 81 749 176 691 184 619 222 562 Chg Investing activities -56 280 -112 415 96 540 40 612 -89 902 -269 530 -335 200 -393 373 Chg Financing activities 34 583 -207 380 194 443 -45 735 -118 000 27 986 195 864 108 620 Chg Cash and Liquids 176 797 -203 192 412 097 240 973 -126 153 -64 853 45 283 -62 191

Share Price 35.0 Company: Fred. Olsen Energy ASA 30.0 Ticker: FOE 25.0 20.0 15.0 Company Presentation: FOE is a leading provider of offshore exploration 10.0 and production services to the oil and gas industry. The Company has more 5.0 than 150 years shipping experience and 35 years in offshore driling. 0 Period Jan 05 Dec 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003089005 Revenue 570 300 614 500 800 200 897 900 935 900 1 028 000 1 119 100 965 200 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 316 844,96 Operating Costs 449 300 463 800 494 300 588 600 544 400 572 300 600 100 622 400 Number of Shares 65 842,25 EBITDA 121 000 150 700 305 900 309 300 391 500 455 700 519 000 342 800 Currency NOK Depreciation 148 000 148 200 166 500 155 500 123 700 113 800 121 700 140 400 Gics 10 EBIT -27 000 2 500 139 400 153 800 267 800 341 900 397 300 202 400 Listed From 15-10-97 Net Financials -76 700 -75 600 -42 300 -86 000 -90 700 -59 000 -46 100 -16 500 Par Value 20,00 Pre Tax Profit -103 700 -73 100 97 100 67 800 177 100 282 900 351 200 185 900 Number of days traded 251 Tax -5 700 -17 800 -12 600 39 900 5 000 4 800 3 800 9 700 Avg. Trades pr Day 469,88 Minority Interests 0 0 0 0 0 0 0 0 Net Income -98 000 -55 300 109 700 27 900 172 100 278 100 347 400 176 200 Key Figures 2006 EPS -1,67 -0,91 1,80 0,46 2,81 4,53 5,42 2,68 (Preliminary figures) Price Book 2,84 3,82 4,54 5,04 5,43 5,55 4,51 4,88 Long Term Fixed Assets 5 313 100 5 517 900 5 414 000 5 539 600 5 694 900 5 746 800 6 215 800 6 301 700 Operating result per Share 19,15 Current Assets 748 300 911 200 903 000 983 100 980 200 1 097 700 1 191 800 1 020 400 BVPS 59,80 Cash 593 500 377 400 633 600 717 100 643 700 625 600 1 110 100 912 500 Gross Margin 1,00 Total Assets 6 654 900 6 806 500 6 950 600 7 239 800 7 318 800 7 470 100 8 517 700 8 234 600 EBITDA Margin 0,42 Total Equity 2 542 900 2 666 100 2 781 300 2 950 600 3 022 900 3 131 700 3 912 900 3 937 300 EBITDA 1 709 000 Long term debt 2 851 200 2 876 200 2 873 300 3 085 500 3 350 900 3 206 200 3 213 200 3 091 400 EBITA 1 209 400 Short term debt 892 700 921 900 969 800 1 203 700 679 000 865 800 1 112 100 956 100 Net Margin 0,24 Total Liability and Equity 6 654 900 6 806 500 6 950 600 7 239 800 7 318 800 7 470 100 8 517 700 8 234 600 ROE 16,44 Net Interestbearing Debt 2 512 100 2 729 400 2 629 500 2 368 400 2 837 500 2 866 800 2 525 600 2 463 600 Chg Operating Activities -21 800 100 157 700 232 600 256 400 609 100 1 043 800 1 456 800 Chg Investing activities -138 800 -192 200 -59 300 -145 000 -532 700 -1 057 900 -1 336 300 -1 785 200 Chg Financing activities 138 200 -29 400 159 200 -53 200 220 400 427 400 716 700 572 500 Chg Cash and Liquids -5 200 -216 100 257 600 34 400 -55 900 -21 400 393 000 195 400

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 45 Share Price Company: Frontline Ltd. 400.0 Ticker: FRO 300.0 200.0 Company Presentation: FRONTLINE Ltd. specialises in crude oil 100.0 transportation. The fleet, which is the largest and the most modern in the world, consists of 16 Suezmax tankers and 34 VLCC tankers. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG3682E1277 Revenue 2 894 357 2 125 230 1 884 006 2 853 683 3 249 020 2 148 920 2 559 982 2 251 864 Round Lot 50,00 Other Income 179 257 0 0 -12 572 80 660 60 869 0 473 969 Reg.Share Capital (mill) 95 557,03 Operating Costs 295 428 265 223 102 922 296 755 31 571 428 380 432 028 985 554 Number of Shares 38 222,81 EBITDA 2 247 452 1 397 142 1 240 049 1 903 517 2 187 375 1 216 052 1 489 796 1 740 279 Currency USD Depreciation 304 156 322 215 321 516 332 846 348 387 313 241 321 568 324 557 Gics 10 EBIT 1 943 296 1 074 927 918 533 1 570 670 1 838 987 902 811 1 168 228 1 415 722 Listed From 09-11-98 Net Financials -144 918 -200 724 -120 040 -208 824 -186 192 -234 751 -285 752 -224 387 Par Value 2,50 Pre Tax Profit 1 872 927 983 035 831 811 1 350 535 1 652 795 668 060 882 476 1 191 335 Number of days traded 251 Tax 0 -537 13 424 0 766 0 263 Avg. Trades pr Day 662,50 Minority Interests 115 611 168 202 354 913 463 049 190 710 240 097 257 552 326 613 Net Income 1 757 316 815 370 476 885 887 062 1 462 085 427 196 624 925 864 459 Key Figures 2006 EPS 23,55 10,93 6,37 11,86 19,54 5,71 8,35 11,55 (Preliminary figures) Price Book 5,33 4,55 5,46 3,99 3,16 3,74 3,93 3,60 Long Term Fixed Assets 20 969 102 22 541 515 22 109 836 23 232 669 22 238 515 21 535 737 22 794 043 21 431 474 Operating result per Share 70,38 Current Assets 2 261 770 1 682 865 1 415 949 7 005 185 6 589 201 6 137 078 1 676 697 1 391 885 BVPS 109,41 Cash 4 959 759 5 002 536 5 195 441 680 478 1 238 056 711 259 4 652 584 5 173 856 Gross Margin 1,00 Total Assets 28 190 631 29 226 916 28 721 226 30 918 332 30 065 773 28 384 074 29 123 324 27 997 215 EBITDA Margin 0,61 Total Equity 7 927 834 7 383 117 6 972 653 8 027 110 8 360 697 7 753 947 8 050 015 7 566 688 EBITDA 6 574 542 Long term debt 13 371 316 19 687 566 19 277 093 19 668 604 14 145 871 13 274 526 13 615 072 17 598 461 EBITA 5 266 224 Short term debt 2 141 030 1 999 493 2 322 632 3 066 072 2 812 610 2 909 551 2 781 416 2 635 768 Net Margin 0,31 Total Liability and Equity 28 190 631 29 226 916 28 721 226 30 918 332 30 065 779 28 384 074 29 123 324 27 997 215 ROE 39,20 Net Interestbearing Debt 9 474 350 15 946 758 15 367 221 18 988 126 15 720 425 14 499 847 10 740 294 14 220 751 Chg Operating Activities 2 121 542 1 504 656 1 113 663 1 202 290 1 901 636 1 207 547 979 475 1 283 432 Chg Investing activities -558 451 -1 339 811 849 116 -1 039 073 134 548 -891 066 416 796 551 186 Chg Financing activities -1 008 398 -497 163 -1 644 281 -765 042 -1 182 840 -778 451 -1 416 013 -1 235 650 Chg Cash and Liquids 554 693 -332 318 318 499 -601 825 853 344 -461 970 -19 743 598 969 Share Price Company: BW Gas AS 100,0 Ticker: GAS 80,0 60,0 40,0 Company Presentation: Bergesen Worldwide Gas is a global provider of marine gas transportation services. BW Gas is the largest owner & operator 20,0 of LPG carriers and one of the largest owners & operators of LNG carriers. 0 Period Oct 05 May 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003102105 Revenue 807 119 971 412 1 078 409 1 078 551 1 306 894 1 123 925 Round Lot 100,00 Other Income 0 663 0 0 0 99 548 Reg.Share Capital (mill) 128 347,89 Operating Costs 281 749 340 823 379 712 393 163 476 960 603 708 Number of Shares 128 347,89 EBITDA 336 030 435 643 545 210 524 010 627 512 619 764 Currency NOK Depreciation 105 333 115 376 146 813 153 901 172 692 178 544 Gics 10 EBIT 230 698 320 268 398 397 370 109 454 819 441 221 Listed From 25-10-05 Net Financials -42 004 -31 165 51 385 85 985 -192 935 -114 961 Par Value 1,00 Pre Tax Profit 951 871 540 410 439 105 456 717 261 885 326 259 Number of days traded 251 Tax 2 585 -6 631 667 42 369 -2 530 1 927 Avg. Trades pr Day 105,46 Minority Interests 12 924 19 892 24 024 0 6 958 27 616 Net Income 936 362 527 148 414 413 414 348 257 457 296 716 Key Figures 2006 EPS 7,30 4,12 3,24 3,23 2,01 2,32 (Preliminary figures) Price Book 0,00 1,87 1,73 1,89 1,65 1,58 Long Term Fixed Assets 11 340 652 12 786 074 14 300 481 13 834 407 16 374 281 15 790 374 Operating result per Share 12,96 Current Assets 799 347 996 353 924 841 822 748 710 964 609 872 BVPS 52,35 Cash 2 513 822 2 398 150 2 677 761 2 508 196 1 436 238 1 556 894 Gross Margin 0,74 Total Assets 14 653 820 16 180 577 17 903 084 17 165 352 18 521 483 17 957 141 EBITDA Margin 0,48 Total Equity 5 587 578 6 287 445 6 810 255 6 585 732 7 188 344 7 146 452 EBITDA 2 315 000 Long term debt 8 273 436 8 782 388 9 440 622 9 085 189 10 320 357 9 869 922 EBITA 1 660 356 Short term debt 701 881 957 094 1 538 989 1 415 776 987 413 855 698 Net Margin 0,28 Total Liability and Equity 14 653 820 16 180 577 17 903 084 17 165 352 18 521 483 17 957 141 ROE 12,68 Net Interestbearing Debt 5 759 615 6 384 238 6 976 792 6 852 907 9 131 298 8 486 920 Chg Operating Activities 1 227 803 532 453 1 344 674 437 402 -4 428 464 984 Chg Investing activities 3 100 526 -808 294 -1 018 349 -428 056 -1 996 398 78 354 Chg Financing activities -3 521 857 188 315 -56 723 -49 846 865 359 -362 867 Chg Cash and Liquids 806 473 -87 527 269 602 -40 500 -1 135 467 180 470

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 46 Share Price Company: Grenland Group ASA 40.0 Ticker: GGG 30.0 20.0 Company Presentation: Grenland Group is a full-service engineering, procure- ment and construction company. The company operates through twodivisions: 10.0 Technology and Fabrication. Grenland Group has activities at 14 locations in 0 Period Norway and 4 offices abroad and has a total of 1000 employees. Dec 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010285661 Revenue 207 980 413 138 412 213 362 767 410 032 288 540 Round Lot 200,00 Other Income 0 0 0 0 0 0 Reg.Share Capital (mill) 53 099,09 Operating Costs 193 920 390 634 389 885 366 427 419 861 331 824 Number of Shares 26 549,55 EBITDA 14 060 22 504 22 328 -3 660 -9 829 -43 284 Currency NOK Depreciation 2 531 3 794 4 976 4 584 5 055 9 022 Gics 10 EBIT 11 529 18 710 17 352 -8 244 -14 884 -52 306 Listed From 12-12-05 Net Financials 174 -1 998 -466 -1 102 -1 972 281 Par Value 2,00 Pre Tax Profit 11 703 16 712 16 886 -9 346 -16 856 -52 025 Number of days traded 245 Tax 3 276 6 080 4 728 -2 617 -4 720 5 841 Avg. Trades pr Day 15,14 Minority Interests 0 0 0 0 0 0 Net Income 8 427 10 632 12 158 -6 729 -12 136 -57 866 Key Figures 2006 EPS 11,32 0,47 0,47 -0,25 -0,46 -2,18 (Preliminary figures) Price Book 0,00 2,51 3,18 2,99 2,93 3,76 Long Term Fixed Assets 158 233 183 217 228 434 228 471 239 253 343 118 Operating result per Share -2,20 Current Assets 265 709 339 138 409 217 453 708 488 205 373 944 BVPS 7,41 Cash 4 791 119 619 6 868 29 246 11 232 34 279 Gross Margin 0,42 Total Assets 428 733 641 974 644 519 711 425 738 690 751 341 EBITDA Margin -0,02 Total Equity 177 717 266 169 286 229 266 225 254 089 196 978 EBITDA -34 445 Long term debt 46 330 48 634 49 725 131 262 138 391 165 461 EBITA -58 082 Short term debt 173 613 318 807 295 014 297 483 329 755 368 419 Net Margin -0,04 Total Liability and Equity 428 733 641 974 644 519 711 425 738 690 751 341 ROE -16,52 Net Interestbearing Debt 41 539 -70 985 42 857 102 016 127 159 131 182 Chg Operating Activities -4 000 28 018 -120 899 -27 449 7 513 40 174 Chg Investing activities -8 125 -13 872 -38 381 -24 621 -18 962 -37 387 Chg Financing activities 2 770 100 682 46 529 74 446 -6 565 20 262 Chg Cash and Liquids -9 355 114 828 -112 751 22 376 -18 014 23 049

Share Price 140 Company: Global Geo Services ASA 120 Ticker: GGS 100 80 60 Company Presentation: GGS is a provider of multi-client seismic data to 40 the oil and gas industry. The Company also develops drilling equipment and 20 processing services through the wholly-owned subsidiaries NESCOS AS 0 Period and Spectrum Ltd. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010052350 Revenue 0 5 842 27 363 28 086 48 536 21 632 48 375 80 886 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 8 358,68 Operating Costs 5 304 12 843 0 11 332 35 007 20 705 55 642 60 494 Number of Shares 83 586,79 EBITDA -5 304 -7 001 27 363 16 754 13 529 927 -7 267 20 392 Currency NOK Depreciation 12 412 -42 921 42 446 32 367 34 107 27 963 27 008 30 578 Gics 10 EBIT -17 716 35 920 -15 083 -15 613 -20 578 -27 036 -34 275 -10 186 Listed From 27-12-00 Net Financials -4 288 -5 091 -5 003 -8 931 -6 951 -11 272 -19 654 -9 558 Par Value 0,10 Pre Tax Profit -22 004 30 829 -20 086 -24 544 -27 529 -38 308 -53 929 -19 744 Number of days traded 250 Tax 0 0 0 0 0 0 0 1 374 Avg. Trades pr Day 109,87 Minority Interests 0 0 0 0 0 0 0 0 Net Income -22 004 30 829 -20 086 -24 544 -27 529 -38 308 -53 929 -21 118 Key Figures 2006 EPS -0,51 0,70 -0,41 -0,46 -0,49 -0,63 -0,79 -0,25 (Preliminary figures) Price Book 2,74 2,73 2,79 2,08 1,57 1,31 1,29 1,62 Long Term Fixed Assets 238 721 304 231 319 577 470 345 465 640 418 161 412 420 394 159 Operating result per Share -1,37 Current Assets 6 627 10 650 39 531 128 233 83 006 63 494 62 765 112 727 BVPS 2,34 Cash 13 808 12 057 5 686 23 737 13 685 16 329 100 155 3 503 Gross Margin 1,00 Total Assets 259 156 326 938 364 794 622 315 562 331 497 984 575 340 510 389 EBITDA Margin 0,14 Total Equity 123 597 188 033 188 015 238 323 240 603 194 832 223 473 195 257 EBITDA 27 581 Long term debt 0 0 0 139 122 148 347 0 26 087 0 EBITA -90 719 Short term debt 122 989 78 928 93 698 233 480 162 000 273 350 319 238 292 298 Net Margin -0,71 Total Liability and Equity 259 156 326 938 364 794 622 312 562 331 497 982 575 339 510 390 ROE -38,59 Net Interestbearing Debt -13 808 -12 057 -5 686 115 385 217 813 -16 329 -74 068 -3 503 Chg Operating Activities 8 608 32 23 433 67 753 -19 432 -7 552 15 906 -11 082 Chg Investing activities -17 193 -40 813 -81 166 -341 396 -13 839 -1 682 -7 199 -15 535 Chg Financing activities 0 30 445 41 027 274 988 23 221 1 722 67 608 6 280 Chg Cash and Liquids -8 584 -10 336 -16 706 1 345 -10 050 -7 512 76 315 -20 337

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 47 Company: Golar LNG Ltd. Share Price 120 100 Ticker: GOL 80 60 Company Presentation: Golar LNG is a leading independent owner operator of 40 LNG transportation with over 30 years experience and is dedicated exclusively 20 to LNG. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG9456A1009 Revenue 277 708 248 783 276 495 299 387 371 957 334 482 353 848 467 142 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 51 212,26 Operating Costs 80 159 83 746 76 970 86 280 82 416 85 842 95 715 106 182 Number of Shares 51 212,26 EBITDA 190 989 156 072 193 276 205 276 271 547 224 228 244 287 356 458 Currency USD Depreciation 76 251 81 981 83 445 87 009 86 412 85 169 93 134 97 043 Gics 10 EBIT 114 738 74 091 109 830 118 267 185 135 139 059 151 153 259 415 Listed From 12-07-01 Net Financials 11 882 -90 403 -22 210 -29 394 -25 390 -14 599 -193 061 -30 898 Par Value 1,00 Pre Tax Profit 126 620 -16 312 85 791 88 873 195 813 124 984 -31 787 228 516 Number of days traded 251 Tax 785 1 886 982 1 638 1 239 1 340 1 524 3 918 Avg. Trades pr Day 83,63 Minority Interests 14 320 9 617 13 984 16 968 13 298 15 583 4 194 11 785 Net Income 111 514 -27 815 70 825 70 267 181 275 108 061 -37 505 212 814 Key Figures 2006 EPS 1,70 -0,42 1,08 1,25 2,78 1,65 -0,57 3,25 (Preliminary figures) Price Book 1,53 1,43 1,49 1,58 1,61 1,45 1,45 1,29 Long Term Fixed Assets 13 281 471 14 014 480 13 857 319 14 181 909 13 670 730 14 792 784 15 442 672 15 257 940 Operating result per Share 11,26 Current Assets 409 538 97 530 398 529 495 801 478 540 438 491 516 298 473 611 BVPS 62,59 Cash 736 611 843 956 508 324 421 196 539 484 409 077 424 946 354 139 Gross Margin 1,04 Total Assets 14 427 621 14 955 966 14 764 172 15 098 905 14 688 755 15 640 352 16 383 915 16 085 690 EBITDA Margin 0,72 Total Equity 2 862 582 2 922 303 2 959 323 3 128 094 3 056 836 3 199 860 3 303 230 3 408 423 EBITDA 1 103 704 Long term debt 10 360 382 10 663 060 11 007 373 11 131 540 4 634 052 5 241 156 12 243 400 11 343 849 EBITA 739 016 Short term debt 665 452 818 596 797 476 839 271 795 412 759 351 837 285 802 886 Net Margin 0,32 Total Liability and Equity 14 427 621 14 955 966 14 764 172 15 098 905 14 688 755 15 640 352 16 383 915 16 085 690 ROE 9,31 Net Interestbearing Debt 9 984 658 10 272 258 10 929 610 11 167 665 4 514 606 5 288 074 12 289 792 11 476 707 Chg Operating Activities 115 787 73 822 128 176 126 091 228 416 117 170 127 470 272 125 Chg Investing activities -730 690 -471 260 -65 293 -86 771 -655 602 -851 214 -39 017 -157 131 Chg Financing activities 1 021 914 214 702 -128 047 -141 985 586 964 601 166 -89 737 -170 952 Chg Cash and Liquids 407 011 -182 736 -65 164 -102 665 159 778 -132 878 -1 284 -55 959

Company: Ganger Rolf ASA Share Price 250 200 Ticker: GRO 150 100 Company Presentation: The Company is involved in a number of activities both in Norway and internationally. The activities are based on long term 50 investments within shipping, offshore and energy as well as transp.&leisure. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003172207 Revenue 200 400 400 1 700 400 200 400 800 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 45 350,00 Operating Costs 5 100 4 500 4 700 15 100 7 400 6 200 5 800 23 300 Number of Shares 36 280,00 EBITDA -4 900 -4 100 -4 300 -13 400 -7 000 -6 000 -5 400 -22 500 Currency NOK Depreciation 900 900 700 700 700 700 700 700 Gics 10 EBIT -5 800 -5 000 -5 000 -14 100 -7 700 -6 700 -6 100 -23 200 Listed From 02-01-80 Net Financials -31 000 177 200 266 200 527 600 171 700 130 700 280 100 157 200 Par Value 1,25 Pre Tax Profit -36 800 337 000 261 200 513 500 164 000 124 000 274 000 134 000 Number of days traded 251 Tax 22 400 51 000 13 900 -10 500 14 700 -13 800 2 100 -1 800 Avg. Trades pr Day 33,20 Minority Interests 0 0 0 0 0 0 0 0 Net Income -59 200 286 000 247 300 524 000 149 300 137 800 271 900 135 800 Key Figures 2006 EPS -1,63 7,94 6,82 14,44 3,66 3,80 7,49 3,74 (Preliminary figures) Price Book 1,13 1,16 1,37 1,40 1,65 1,71 1,67 1,90 Long Term Fixed Assets 3 078 000 3 208 300 3 541 900 3 775 200 3 792 400 3 272 700 3 863 600 3 925 800 Operating result per Share -1,75 Current Assets 34 700 39 900 42 700 68 900 62 700 475 000 362 900 96 100 BVPS 125,49 Cash 87 000 99 100 72 400 168 100 128 300 238 000 147 700 700 700 Gross Margin 1,00 Total Assets 3 199 700 3 347 300 3 657 000 4 012 200 3 983 400 3 985 700 4 374 200 4 722 600 EBITDA Margin -22,67 Total Equity 2 940 100 3 108 100 3 431 100 3 747 100 3 791 900 3 829 700 3 929 100 4 552 900 EBITDA -40 800 Long term debt 151 400 82 600 204 300 183 300 74 200 2 300 246 100 88 700 EBITA -43 600 Short term debt 80 300 46 000 21 600 81 800 96 700 98 800 153 700 16 100 Net Margin 386,11 Total Liability and Equity 3 199 700 3 347 300 3 657 000 4 012 200 3 983 400 3 985 700 4 374 200 4 722 600 ROE 9,79 Net Interestbearing Debt 137 300 17 200 131 900 15 200 28 800 -153 800 184 800 -612 000 Chg Operating Activities 118 600 12 100 -18 100 11 100 -9 400 120 300 242 600 428 300 Chg Investing activities -94 000 197 000 202 500 256 300 65 900 67 400 -102 500 506 400 Chg Financing activities 20 300 -148 600 -154 200 -141 300 -96 400 -117 800 -160 600 -402 100 Chg Cash and Liquids 44 900 60 500 30 200 126 100 -39 900 69 900 -20 500 532 600

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 48 Company: Havila Shipping ASA Share Price 100,0 80,0 Ticker: HAVI 60,0 40,0 Company Presentation: Havila’s goal is to be the leading provider of quality- assured supply services to offshore companies, both national and international. 20,0 The fleet consists of 20 PSV/AHTS/SubSea vessels including newbuilds. 0 Period May 05 Feb 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010257728 Revenue 126 088 149 264 124 733 130 227 165 210 178 243 192 332 Round Lot 100,00 Other Income 0 0 1 610 265 308 848 53 158 Reg.Share Capital (mill) 399 000,00 Operating Costs 62 164 59 825 65 167 65 451 65 826 65 819 66 667 Number of Shares 15 960,00 EBITDA 63 924 89 439 61 176 65 041 99 692 113 272 178 823 Currency NOK Depreciation 17 019 18 549 20 417 23 598 24 962 24 988 20 002 Gics 10 EBIT 46 905 70 890 40 759 41 443 74 730 88 284 158 821 Listed From 24-05-05 Net Financials -5 982 -11 555 -20 040 -4 459 -5 809 -10 177 4 764 Par Value 25,00 Pre Tax Profit 40 923 86 207 20 719 36 984 68 921 78 107 163 585 Number of days traded 239 Tax 11 458 24 138 1 554 6 858 6 023 8 858 28 331 Avg. Trades pr Day 12,75 Minority Interests 0 0 0 0 0 0 0 Net Income 29 465 62 069 19 165 30 126 62 898 69 249 135 254 Key Figures 2006 EPS 2,03 4,28 1,32 2,08 4,04 4,34 8,47 (Preliminary figures) Price Book 1,29 1,18 1,04 1,12 1,29 1,25 1,35 Long Term Fixed Assets 1 520 427 1 643 779 1 665 230 1 845 013 1 893 328 1 914 173 1 785 360 Operating result per Share 23,43 Current Assets 107 121 123 434 626 925 124 445 190 772 185 192 336 676 BVPS 62,13 Cash 96 933 92 034 0 484 257 453 738 513 410 615 418 Gross Margin 1,00 Total Assets 1 724 481 1 859 247 2 292 155 2 453 715 2 537 838 2 612 775 2 737 454 EBITDA Margin 0,63 Total Equity 532 355 594 252 646 353 676 479 787 133 856 332 991 586 EBITDA 456 827 Long term debt 1 033 234 1 054 377 1 491 898 1 604 601 1 556 212 1 558 396 1 501 857 EBITA 363 277 Short term debt 126 482 154 102 131 553 143 427 159 089 153 956 172 107 Net Margin 0,41 Total Liability and Equity 1 724 481 1 859 247 2 292 155 2 453 715 2 537 838 2 612 775 2 737 454 ROE 21,12 Net Interestbearing Debt 936 301 962 343 1 491 898 1 120 344 1 102 474 1 044 986 886 439 Chg Operating Activities 25 088 108 254 31 622 27 333 108 408 200 877 126 854 Chg Investing activities -191 147 -145 277 -5 809 -201 411 -314 958 -308 331 -173 701 Chg Financing activities 152 836 32 124 408 767 131 721 133 674 134 812 161 345 Chg Cash and Liquids -13 223 -4 899 434 580 -42 357 -72 876 27 358 114 498

Company: I.M. Skaugen ASA Share Price 70.0 Ticker: IMSK 50.0 30.0

Company Presentation: I.M. Skaugen ASA is a Marine Transportation Service 10.0 Company engaged in the hassle free transportation of petrochemical gases and LPG, ship-to-ship transfer of crude oil and LNG, as well as the design and 0 Period construction of smaller and specialized high quality marine vessels. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003072803 Revenue 281 425 269 597 292 437 352 957 362 648 286 124 286 043 313 016 Round Lot 200,00 Other Income 0 0 0 0 0 0 22 545 79 484 Reg.Share Capital (mill) 409 138,23 Operating Costs 130 516 129 318 148 028 198 075 198 058 162 231 181 321 262 510 Number of Shares 27 275,88 EBITDA 87 474 72 710 68 576 74 941 74 201 35 690 56 071 57 879 Currency NOK Depreciation 17 206 17 476 17 506 29 248 17 945 16 424 17 098 29 248 Gics 10 EBIT 70 268 55 234 51 070 45 693 56 256 19 266 38 973 28 631 Listed From 18-02-97 Net Financials 5 042 -12 763 -5 913 -19 130 -15 202 -15 222 -20 546 -24 733 Par Value 15,00 Pre Tax Profit 75 310 42 471 37 700 23 248 45 852 4 337 18 427 3 898 Number of days traded 228 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 9,50 Minority Interests 2 074 767 2 236 2 294 2 609 2 143 645 591 Net Income 73 235 41 704 35 464 20 953 43 243 2 193 17 782 3 308 Key Figures 2006 EPS 3,12 1,72 1,41 0,83 1,64 0,08 0,65 0,12 (Preliminary figures) Price Book 1,93 1,79 2,08 2,56 2,35 2,03 1,82 1,82 Long Term Fixed Assets 1 041 081 1 075 406 1 066 435 1 193 288 1 122 468 1 230 265 1 250 327 1 170 367 Operating result per Share 5,03 Current Assets 155 397 163 980 175 549 201 565 238 813 230 388 240 069 328 161 BVPS 24,13 Cash 166 809 209 102 197 155 584 944 447 985 658 249 673 796 523 502 Gross Margin 1,34 Total Assets 1 363 287 1 448 488 1 439 138 1 979 797 1 809 266 2 118 902 2 164 192 2 022 030 EBITDA Margin 0,17 Total Equity 581 886 661 555 698 271 615 214 673 772 666 289 718 353 694 629 EBITDA 222 322 Long term debt 0 0 0 1 231 409 21 834 1 322 527 0 1 219 294 EBITA 135 473 Short term debt 136 451 142 463 162 355 133 174 165 372 130 085 206 745 108 113 Net Margin 0,06 Total Liability and Equity 1 363 287 1 448 488 1 439 138 1 979 797 1 809 266 2 118 902 2 164 192 2 022 036 ROE 6,32 Net Interestbearing Debt -166 809 -209 102 -34 800 646 465 -426 151 664 279 -673 796 695 792 Chg Operating Activities 389 561 49 351 65 112 183 355 36 350 72 732 25 999 33 930 Chg Investing activities 84 368 -26 818 -8 995 -22 883 -8 435 -233 480 8 957 -21 798 Chg Financing activities -339 529 10 410 -53 054 281 298 -127 761 300 499 -52 902 -133 638 Chg Cash and Liquids 134 401 32 943 3 063 441 770 -99 846 139 750 -17 946 -121 506

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 49 Share Price 500 Company: InterOil Exploration and Production ASA 400 Ticker: IOX 300 200 Company Presentation: InterOil E&P is an international independent petroleum company with headquarter in Oslo. The company is engaged in the acquisition, 100 exploration, development and operation of oil and natural gas properties. 0 Period InterOil serves as operator and active partner in several production and Jul 06 Sep 06 Dec 06 exploration areas.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010284318 Revenue 57 664 68 682 74 738 68 431 Round Lot 200,00 Other Income 1 522 1 533 -588 13 789 Reg.Share Capital (mill) 1 062,25 Operating Costs 36 596 40 295 49 252 72 991 Number of Shares 21 245,00 EBITDA 22 589 29 920 24 898 9 229 Currency NOK Depreciation 0 0 0 0 Gics 10 EBIT 22 589 29 920 24 898 9 229 Listed From 19-07-06 Net Financials -8 942 -6 355 -13 271 -83 170 Par Value 0,05 Pre Tax Profit 13 647 23 565 11 627 -73 941 Number of days traded 108 Tax 9 596 15 322 11 374 7 065 Avg. Trades pr Day 22,24 Minority Interests 0 0 0 0 Net Income 4 051 8 243 253 -81 006 Key Figures 2006 EPS 0,00 0,00 0,01 -3,81 (Preliminary figures) Price Book 0,00 0,00 2,19 3,99 Long Term Fixed Assets 668 045 642 362 738 283 855 460 Operating result per Share 3,78 Current Assets 87 824 90 221 49 358 105 980 BVPS 10,89 Cash 47 322 42 542 99 561 108 082 Gross Margin 0,62 Total Assets 803 190 775 125 887 202 1 069 522 EBITDA Margin 0,29 Total Equity 313 018 305 097 325 352 231 414 EBITDA 80 361 Long term debt 233 725 221 855 346 102 461 038 EBITA 80 361 Short term debt 109 019 108 137 68 455 121 318 Net Margin -0,26 Total Liability and Equity 803 177 775 125 887 196 1 069 522 ROE -15,22 Net Interestbearing Debt 186 403 179 313 246 541 356 697 Chg Operating Activities 29 736 22 992 5 636 -10 391 Chg Investing activities -14 955 -23 777 -33 096 -185 056 Chg Financing activities -23 110 -1 551 81 165 208 119 Chg Cash and Liquids -8 328 -2 337 53 705 12 671

Share Price 30,0 Company: Petrojack ASA 25,0 Ticker: JACK 20,0 15,0 Company Presentation: The company has 2 identical jackup rigs under 10,0 construction at Jurong Shipyard Pte Ltd (JSPL), a subsidiary of SembCorp 5,0 Marine Ltd, one of the major ship and rig builders in Singapore and world 0 Period wide. Feb 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010244346 Revenue 0 0 0 0 0 0 809 187 1 724 Round Lot 500,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 324 875,00 Operating Costs 1 527 1 475 4 551 11 643 9 701 8 892 11 791 8 174 Number of Shares 64 975,00 EBITDA -1 527 -1 475 -4 551 -11 643 -9 701 -8 892 797 396 -6 450 Currency NOK Depreciation 0 0 0 0 0 0 0 0 Gics 10 EBIT -1 527 -1 475 -4 551 -11 643 -9 701 -8 892 797 396 -6 450 Listed From 23-02-05 Net Financials 4 117 3 413 365 352 -8 629 -17 051 13 232 -2 210 Par Value 5,00 Pre Tax Profit 2 590 1 938 -4 186 -11 292 -18 331 -25 943 810 628 -8 660 Number of days traded 193 Tax 0 0 0 0 0 0 188 034 2 988 Avg. Trades pr Day 11,48 Minority Interests 0 0 0 0 0 0 0 0 Net Income 2 590 1 938 -4 186 -11 292 -18 331 -25 943 622 594 -11 648 Key Figures 2006 EPS 0,05 0,04 -0,07 -0,19 -0,30 -0,40 9,58 -0,18 (Preliminary figures) Price Book 1,48 1,68 2,94 3,21 3,19 3,13 1,24 1,28 Long Term Fixed Assets 125 641 257 192 350 328 363 342 455 711 768 906 1 471 541 1 599 036 Operating result per Share 12,08 Current Assets 1 362 3 843 5 303 10 482 318 755 860 13 125 BVPS 16,63 Cash 157 660 112 727 8 677 43 636 44 563 1 430 440 1 642 560 1 400 745 Gross Margin 1,00 Total Assets 284 663 373 762 364 308 417 460 500 591 2 200 101 3 114 961 3 012 906 EBITDA Margin 0,95 Total Equity 278 260 367 901 363 715 396 709 488 285 466 978 1 077 720 1 080 225 EBITDA 772 353 Long term debt 0 0 0 0 0 1 704 878 1 757 983 1 710 786 EBITA 772 353 Short term debt 6 403 5 861 593 20 752 12 306 28 246 279 258 209 370 Net Margin 0,70 Total Liability and Equity 284 663 373 762 364 308 417 460 500 591 2 200 101 3 114 961 3 012 906 ROE 44,61 Net Interestbearing Debt -152 743 -112 727 -8 677 -43 636 -44 563 274 437 115 423 310 041 Chg Operating Activities 0 0 0 0 0 0 627 580 776 447 Chg Investing activities 0 0 0 0 0 0 -1 108 200 -1 221 335 Chg Financing activities 0 0 0 0 0 0 2 079 543 1 813 401 Chg Cash and Liquids 0 0 0 0 0 0 1 598 923 1 357 108

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 50 Company: Norse Energy Corp. ASA Share Price 500 400 Ticker: NEC 300 200 Company Presentation: Norse Energy Corp is an oil and gas exploration company with operations in Brazil and USA. In addition NEC owns and 100 operates pipeline systems for gathering and transmission of natural gas 0 Period in the US. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003095507 Revenue 30 343 65 312 305 161 403 192 324 677 286 174 305 185 280 981 Round Lot 2 000,00 Other Income 3 852 3 855 0 86 0 0 0 0 Reg.Share Capital (mill) 310 344,79 Operating Costs 17 782 33 065 48 466 365 662 288 915 256 291 60 765 268 612 Number of Shares 352 664,53 EBITDA 16 413 36 103 256 695 37 617 35 762 29 883 244 420 12 370 Currency NOK Depreciation 9 941 17 356 16 911 23 639 21 461 20 699 19 673 36 325 Gics 10 EBIT 6 472 18 747 239 784 13 978 14 301 9 184 224 747 -23 956 Listed From 28-01-98 Net Financials -31 -6 492 -5 215 -3 919 -5 132 -6 916 -6 553 -66 710 Par Value 0,88 Pre Tax Profit 6 441 12 256 16 007 10 059 9 169 2 268 3 043 -90 665 Number of days traded 251 Tax 207 7 219 -2 262 8 342 7 808 299 -1 145 -14 406 Avg. Trades pr Day 274,25 Minority Interests 597 204 640 378 374 0 0 0 Net Income 5 636 4 832 17 629 1 339 988 1 969 4 188 -76 260 Key Figures 2006 EPS 0,03 0,02 0,05 0,00 0,00 0,01 0,01 -0,22 (Preliminary figures) Price Book 1,22 1,37 2,16 1,73 1,63 1,89 1,62 2,17 Long Term Fixed Assets 895 091 989 225 1 254 177 1 009 152 1 383 819 1 618 236 1 952 373 1 877 387 Operating result per Share 0,03 Current Assets 72 970 491 918 7 045 367 764 290 426 15 837 17 029 226 954 BVPS 1,91 Cash 55 398 81 206 183 366 210 635 209 337 162 128 242 183 348 659 Gross Margin 0,17 Total Assets 1 023 459 1 562 349 1 444 587 1 587 551 1 883 582 1 796 201 2 211 585 2 453 000 EBITDA Margin 0,09 Total Equity 324 250 663 144 674 748 664 050 778 506 721 116 824 763 672 742 EBITDA 107 240 Long term debt 298 824 468 791 338 695 388 449 516 667 500 291 676 372 1 004 607 EBITA 9 017 Short term debt 254 597 278 744 280 916 374 397 430 212 418 185 571 776 506 844 Net Margin -0,06 Total Liability and Equity 1 023 459 1 562 349 1 444 587 1 587 551 1 883 582 1 796 207 2 211 585 2 453 000 ROE -5,99 Net Interestbearing Debt 395 986 435 260 155 330 177 814 307 330 338 163 434 189 793 766 Chg Operating Activities 13 535 46 189 -67 187 -3 455 -10 757 36 780 -5 459 140 645 Chg Investing activities -3 732 -68 262 -29 920 -31 795 -436 489 -106 036 -222 545 -290 082 Chg Financing activities -9 004 61 106 197 709 55 719 396 629 32 924 299 232 268 303 Chg Cash and Liquids 798 39 033 100 602 20 469 -50 617 -36 332 71 228 118 866

Company: Norsk Hydro ASA Share Price 250 200 Ticker: NHY 150 100 Company Presentation: Hydro is a Fortune 500 energy and aluminium supplier founded in 1905, with 33,000 employees in nearly 40 countries. 50 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005052605 Revenue 42 152 000 42 119 000 44 612 000 45 318 000 55 416 000 51 435 000 50 961 000 45 715 000 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 4 708 426,97 Operating Costs 26 851 000 27 349 000 28 103 000 29 380 000 33 407 000 32 713 000 31 387 000 41 142 000 Number of Shares 1 286 455,46 EBITDA 15 301 000 14 770 000 16 509 000 15 938 000 22 009 000 18 722 000 19 574 000 4 573 000 Currency NOK Depreciation 3 547 000 3 515 000 3 536 000 5 488 000 4 142 000 4 082 000 4 286 000 0 Gics 10 EBIT 11 754 000 11 255 000 12 973 000 10 450 000 17 867 000 14 640 000 15 288 000 4 573 000 Listed From 02-01-80 Net Financials -697 000 -312 000 394 000 103 000 1 075 000 1 291 000 -512 000 954 000 Par Value 3,66 Pre Tax Profit 11 057 000 11 176 000 13 367 000 10 475 000 18 942 000 15 931 000 14 776 000 5 589 000 Number of days traded 251 Tax 7 283 000 7 430 000 9 182 000 6 422 000 13 117 000 10 454 000 9 787 000 4 288 000 Avg. Trades pr Day 1 955,20 Minority Interests 81 000 169 000 2 000 -133 000 -43 000 83 000 185 000 -22 000 Net Income 3 693 000 3 577 000 4 183 000 4 186 000 5 868 000 5 394 000 4 804 000 1 323 000 Key Figures 2006 EPS 2,83 2,85 3,34 3,34 4,69 4,27 3,88 1,08 (Preliminary figures) Price Book 1,51 1,77 2,07 1,88 2,35 2,20 1,82 2,58 Long Term Fixed Assets 130 567 000 132 682 000 131 771 000 156 902 000 156 584 000 155 487 000 160 841 000 151 863 000 Operating result per Share 42,06 Current Assets 67 755 000 64 040 000 69 836 000 59 829 000 66 372 000 74 819 000 75 499 000 75 370 000 BVPS 75,01 Cash 15 467 000 11 120 000 16 607 000 10 464 000 20 762 000 7 725 000 16 490 000 6 760 000 Gross Margin 0,50 Total Assets 213 789 000 207 842 000 218 214 000 227 195 000 243 718 000 238 031 000 252 830 000 233 993 000 EBITDA Margin 0,38 Total Equity 91 396 000 89 333 000 92 963 000 96 476 000 100 805 000 97 751 000 103 919 000 97 201 000 EBITDA 74 389 000 Long term debt 38 872 000 40 571 000 39 918 000 43 750 000 20 814 000 19 942 000 20 653 000 19 619 000 EBITA 52 224 000 Short term debt 54 073 000 48 634 000 56 127 000 53 256 000 65 190 000 64 592 000 71 798 000 61 076 000 Net Margin 0,09 Total Liability and Equity 213 789 000 207 842 000 218 214 000 227 195 000 243 718 000 238 031 000 252 830 000 233 993 000 ROE 10,60 Net Interestbearing Debt 27 952 000 33 830 000 27 635 000 33 665 000 3 692 000 15 762 000 7 509 000 16 513 000 Chg Operating Activities 8 468 000 11 752 000 25 385 000 27 385 000 15 650 000 23 142 000 41 792 000 38 908 000 Chg Investing activities -6 517 000 -8 830 000 -15 877 000 -24 318 000 -4 151 000 -17 528 000 -25 324 000 -31 727 000 Chg Financing activities -899 000 -6 032 000 -7 128 000 -6 797 000 -1 107 000 -8 336 000 -10 663 000 -11 152 000 Chg Cash and Liquids 1 101 000 -3 246 000 2 241 000 -3 903 000 10 299 000 -2 738 000 6 027 000 -3 656 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 51 Company: Ocean Rig ASA Share Price 60.0 50.0 Ticker: OCR 40.0 30.0 Company Presentation: Ocean Rig ASA owns and operates two high- 20.0 specification semi-submersible drilling rigs for exploration and development 10.0 drilling in deepwater and harsh environments. The headquarter is in Stavanger. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003066300 Revenue 287 787 312 681 326 337 330 877 337 003 232 409 375 115 447 643 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 931 782,40 Operating Costs 166 514 203 978 176 416 177 042 178 178 180 693 184 079 179 828 Number of Shares 186 356,48 EBITDA 121 273 108 703 149 921 153 835 158 825 51 716 191 037 267 815 Currency NOK Depreciation 88 598 88 241 87 885 -322 920 89 423 82 246 83 500 77 069 Gics 10 EBIT 32 674 20 462 62 036 476 754 69 403 -30 531 107 537 190 746 Listed From 07-01-97 Net Financials -53 410 -176 483 -105 979 -88 853 -38 705 -77 262 -91 090 -84 134 Par Value 5,00 Pre Tax Profit -20 736 -156 021 -43 942 387 902 30 697 -107 793 16 447 106 612 Number of days traded 251 Tax 5 027 5 755 3 877 14 588 14 014 5 608 10 754 12 845 Avg. Trades pr Day 349,55 Minority Interests 0 0 0 0 0 0 0 0 Net Income -25 763 -161 776 -47 820 373 314 16 683 -113 400 5 693 93 767 Key Figures 2006 EPS -0,15 -0,93 -0,27 2,09 0,09 -0,61 0,03 0,55 (Preliminary figures) Price Book 1,22 1,78 2,55 2,62 2,84 3,00 3,24 3,94 Long Term Fixed Assets 6 229 156 6 364 773 6 277 031 6 843 156 6 592 374 6 246 145 6 437 051 6 135 002 Operating result per Share 1,85 Current Assets 260 788 153 833 132 134 157 034 164 563 107 369 344 749 826 299 BVPS 11,64 Cash 232 304 235 660 201 472 240 966 258 692 1 545 618 809 835 0 Gross Margin 1,00 Total Assets 6 722 248 6 754 266 6 610 638 7 241 155 7 015 629 7 899 133 7 591 635 6 961 301 EBITDA Margin 0,48 Total Equity 2 726 245 2 643 315 2 635 490 3 149 476 3 137 878 2 753 523 2 342 993 2 169 894 EBITDA 666 838 Long term debt 3 516 204 3 585 299 3 411 942 3 347 122 3 191 196 4 387 159 4 509 709 4 167 773 EBITA 334 382 Short term debt 479 799 525 652 563 206 743 880 685 896 757 827 738 283 623 008 Net Margin 0,00 Total Liability and Equity 6 722 248 6 754 266 6 610 638 7 241 155 7 015 629 7 899 133 7 591 635 6 961 301 ROE -0,01 Net Interestbearing Debt 3 419 991 3 578 753 3 537 535 3 106 156 3 426 191 2 841 540 4 187 726 4 636 906 Chg Operating Activities -140 123 -1 918 20 679 94 157 -7 341 137 701 -181 548 174 690 Chg Investing activities -12 567 -12 149 -6 462 -12 599 -13 347 -71 654 -22 773 -24 405 Chg Financing activities 62 207 8 313 -47 820 -49 731 45 379 1 231 828 -574 376 -357 087 Chg Cash and Liquids -90 483 -5 755 -33 603 31 828 24 691 1 542 745 -778 697 -206 802

Share Price 18.0 Company: Odfjell Invest Ltd. 15.0 Ticker: OILRIG 12.0 9.0 Company Presentation: OILRIG has two flexible 6th generations GVA7500 6.0 design harsh environment ultra-deep water semi-submersible under 3.0 construction in Korea, delivery Oct. 2008 and June 2010. 0 Period Jun 06 Sep 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG6740A1027 Revenue 0 0 0 0 Round Lot 500,00 Other Income 0 0 0 0 Reg.Share Capital (mill) 102 195,12 Operating Costs 1 648 4 779 2 840 2 993 Number of Shares 102 195,12 EBITDA -1 648 -4 779 -2 840 -2 993 Currency USD Depreciation 0 0 0 0 Gics 10 EBIT -1 648 -4 779 -2 840 -2 993 Listed From 01-06-06 Net Financials 4 211 4 162 4 498 983 Par Value 1,00 Pre Tax Profit 2 563 -617 1 657 -2 010 Number of days traded 110 Tax 0 0 0 0 Avg. Trades pr Day 6,53 Minority Interests 0 0 0 0 Net Income 2 563 -617 1 657 -2 010 Key Figures 2006 EPS 0,02 -0,01 0,02 -0,02 (Preliminary figures) Price Book 0,00 1,16 1,03 1,19 Long Term Fixed Assets 1 118 071 1 076 870 1 139 754 1 390 534 Operating result per Share -0,12 Current Assets 0 986 11 734 7 506 BVPS 13,74 Cash 364 914 331 615 314 353 80 134 Gross Margin 0,00 Total Assets 1 482 985 1 409 471 1 465 841 1 478 174 EBITDA Margin 0,00 Total Equity 1 478 647 1 401 619 1 462 224 1 404 176 EBITDA -12 380 Long term debt 0 0 0 8 695 EBITA -12 380 Short term debt 4 338 7 847 3 617 65 303 Net Margin 0,00 Total Liability and Equity 1 482 985 1 409 465 1 465 841 1 478 174 ROE Net Interestbearing Debt -364 914 -331 615 -314 353 -71 439 Chg Operating Activities 2 743 -2 025 -17 687 -12 318 Chg Investing activities -1 129 279 -12 381 -12 651 -1 352 955 Chg Financing activities 1 496 486 -12 0 1 447 551 Chg Cash and Liquids 369 949 -14 418 -30 338 82 278

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 52 Share Price 70.0 Company: PA Resources AB 50.0 Ticker: PAR 30.0

Company Presentation: PA Resources AB is a Swedish oil and gas company 10.0 with activities in Tunisia, Norway, Equatorial Guinea and the Republic of Congo (Brazzaville). Main focus is profitability through acquisitions, exploration, 0 Period development and production. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin SE0000818569 Revenue 43 542 43 822 69 779 78 125 203 167 83 087 363 362 161 633 Round Lot 200,00 Other Income 286 292 229 28 943 0 0 0 0 Reg.Share Capital (mill) 31 735,21 Operating Costs 22 241 20 462 16 478 49 577 85 972 51 424 101 394 85 251 Number of Shares 63 470,41 EBITDA 21 587 23 651 53 530 57 492 117 195 31 663 261 968 76 383 Currency SEK Depreciation 1 245 945 3 264 2 861 15 957 21 503 46 881 12 871 Gics 10 EBIT 20 342 22 706 50 265 54 630 101 238 10 160 215 087 63 512 Listed From 12-10-01 Net Financials -1 965 -2 186 -8 113 -5 399 -956 14 566 -71 470 7 127 Par Value 0,50 Pre Tax Profit 18 377 20 520 42 153 49 232 100 283 24 726 143 617 70 639 Number of days traded 251 Tax 5 346 9 623 15 082 31 030 38 556 10 247 54 197 -20 147 Avg. Trades pr Day 262,63 Minority Interests 0 0 0 0 0 0 -64 -66 Net Income 13 031 10 896 27 070 18 202 61 727 14 479 89 484 90 852 Key Figures 2006 EPS 0,14 0,11 0,07 0,14 0,46 0,11 0,65 0,64 (Preliminary figures) Price Book 1,96 1,36 2,43 2,05 1,63 1,64 1,40 1,97 Long Term Fixed Assets 246 063 566 370 961 300 2 120 111 2 177 847 2 535 637 2 832 082 3 316 202 Operating result per Share 2,66 Current Assets 323 454 100 328 160 344 115 505 182 099 227 443 278 860 535 977 BVPS 33,20 Cash 75 193 761 836 983 488 637 998 679 468 402 092 628 389 610 099 Gross Margin 0,85 Total Assets 644 710 1 428 535 2 105 132 2 873 614 3 039 415 3 165 172 3 739 331 4 462 278 EBITDA Margin 0,60 Total Equity 289 726 1 043 326 1 044 111 1 054 662 1 357 404 1 364 915 1 799 596 2 107 129 EBITDA 483 546 Long term debt 466 343 198 1 001 190 1 395 673 1 361 100 1 418 267 1 583 146 1 354 416 EBITA 386 058 Short term debt 26 531 42 011 59 831 423 280 320 912 381 990 356 590 984 124 Net Margin 0,31 Total Liability and Equity 644 710 1 428 535 2 105 132 2 873 614 3 039 415 3 165 172 3 739 331 4 462 278 ROE Net Interestbearing Debt -74 728 -418 639 17 702 757 674 681 631 1 016 176 954 756 744 317 Chg Operating Activities -275 721 301 271 932 439 0 -41 389 44 777 -5 914 436 305 Chg Investing activities -20 649 -371 634 -752 193 0 -147 061 -459 473 -770 928 -1 308 190 Chg Financing activities 331 218 819 077 767 381 0 248 275 243 833 682 158 815 768 Chg Cash and Liquids 36 246 748 714 947 627 0 59 825 -170 863 -94 684 -56 116

Company: Petrobank Energy and Resources Ltd. Share Price 120,0 100,0 Ticker: PBG 80,0 60,0 Company Presentation: Petrobank is an E&P company operating 3 business 40,0 units: Canada; Latin America - one of the largest exploration landholders in 20,0 Colombia; and Heavy Oil with oil sands leases and the THAI™ technology. 0 Period Jun 06 Sep 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CA71645P1062 Revenue 124 711 151 421 139 063 Round Lot 100,00 Other Income -18 528 -16 177 0 Reg.Share Capital (mill) 0,00 Operating Costs 40 169 32 870 57 868 Number of Shares 771,40 EBITDA 66 014 102 374 81 195 Currency CAD Depreciation 35 768 43 293 39 175 Gics 10 EBIT 30 247 59 081 42 020 Listed From 08-02-06 Net Financials -318 -2 521 -4 685 Par Value 0,00 Pre Tax Profit 29 929 56 427 37 335 Number of days traded 89 Tax 11 205 -10 568 8 161 Avg. Trades pr Day 4,97 Minority Interests 0 0 0 Net Income 18 724 66 994 29 174 Key Figures 2006 EPS 0,28 1,02 0,44 (Preliminary figures) Price Book 5,44 6,16 5,39 Long Term Fixed Assets 1 533 572 1 657 326 1 911 542 Operating result per Share 2,72 Current Assets 128 241 133 943 128 862 BVPS 1 786,21 Cash 48 645 316 641 264 517 Gross Margin 0,84 Total Assets 1 710 458 2 107 911 2 304 922 EBITDA Margin 0,70 Total Equity 897 561 963 266 1 388 077 EBITDA 354 132 Long term debt 78 549 436 911 89 656 EBITA 179 097 Short term debt 607 578 600 763 713 648 Net Margin 0,26 Total Liability and Equity 1 710 458 2 107 911 2 304 922 ROE 6,42 Net Interestbearing Debt 29 903 239 298 232 931 Chg Operating Activities 49 947 54 222 98 861 Chg Investing activities -434 200 -218 149 -254 680 Chg Financing activities 287 547 429 300 93 685 Chg Cash and Liquids -96 706 265 373 -61 971

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 53 Company: Petrolia Drilling ASA Share Price 4,0 Ticker: PDR 3,0 2,0

Company Presentation: Petrolia Drilling owns and charters drilling vessels 1,0 for offshore, deepwater oil and gas exploration and development drilling. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003075301 Revenue 0 0 0 21 324 6 117 80 118 107 606 104 189 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 424 696,00 Operating Costs 12 753 4 965 15 406 44 216 12 619 50 777 51 202 57 391 Number of Shares 849 392,00 EBITDA -12 753 -4 965 -15 406 -22 892 -6 501 29 341 56 404 46 798 Currency NOK Depreciation 6 668 3 072 -38 925 3 933 4 444 4 444 8 080 10 033 Gics 10 EBIT -19 421 -8 037 23 519 -26 826 -10 945 24 897 48 324 36 765 Listed From 12-05-97 Net Financials -8 436 -8 084 -26 780 -14 419 -3 329 -37 450 -27 101 376 Par Value 0,50 Pre Tax Profit -27 857 -16 121 -3 261 -41 244 -14 274 -12 553 21 223 37 141 Number of days traded 251 Tax 0 0 0 -52 920 0 -32 000 0 0 Avg. Trades pr Day 442,98 Minority Interests 0 0 0 0 0 0 0 0 Net Income -27 857 -16 121 -3 261 11 676 -14 274 19 447 21 223 37 141 Key Figures 2006 EPS -0,09 -0,05 -0,01 0,03 -0,03 0,03 0,03 0,05 (Preliminary figures) Price Book 8,00 71,71 1 593,89 6,78 4,26 2,02 2,26 2,16 Long Term Fixed Assets 212 720 238 087 277 759 335 265 367 240 1 163 535 1 282 785 1 405 703 Operating result per Share 0,13 Current Assets 21 528 18 995 50 029 204 869 508 451 96 184 150 353 324 643 BVPS 1,65 Cash 47 323 16 536 76 257 102 286 311 486 636 251 468 663 449 307 Gross Margin 1,00 Total Assets 281 571 273 618 404 045 642 419 1 187 177 1 895 969 1 901 801 2 179 653 EBITDA Margin 0,41 Total Equity 22 771 3 222 311 245 636 493 228 1 088 192 1 114 617 1 398 288 EBITDA 122 131 Long term debt 233 422 237 225 370 230 289 968 511 781 497 500 497 612 496 951 EBITA 95 131 Short term debt 25 378 33 171 33 504 106 815 182 168 311 277 289 572 284 414 Net Margin 0,20 Total Liability and Equity 281 571 273 618 404 045 642 419 1 187 177 1 896 969 1 901 801 2 179 653 ROE 4,22 Net Interestbearing Debt 186 099 220 689 293 973 187 682 204 190 -138 751 28 949 51 489 Chg Operating Activities 0 0 0 0 0 0 112 941 5 563 Chg Investing activities 0 0 0 0 0 0 -797 043 -1 180 857 Chg Financing activities 0 0 0 0 0 0 1 049 292 1 521 128 Chg Cash and Liquids 0 0 0 0 0 0 365 190 345 834

Company: Pertra ASA Share Price 70.0 Ticker: PERTRA 50.0 30.0

Company Presentation: Pertra ASA is an independent E & P company 10.0 focused on exploration and development of small and medium-sized petroleum resources on the Norwegian Shelf. 0 Period Nov 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010295603 Revenue 41 172 18 154 86 700 29 169 Round Lot 200,00 Other Income -11 0 -11 2 185 Reg.Share Capital (mill) 5 302,13 Operating Costs 52 654 81 077 204 855 40 801 Number of Shares 26 510,65 EBITDA -11 493 -62 923 -118 166 -9 447 Currency NOK Depreciation 9 871 2 097 14 806 6 252 Gics 10 EBIT -21 364 -65 020 -132 972 -15 699 Listed From 10-11-06 Net Financials -846 -4 643 -6 731 10 009 Par Value 0,20 Pre Tax Profit -22 210 -69 663 -139 703 -5 690 Number of days traded 33 Tax -10 276 -53 018 103 758 -6 111 Avg. Trades pr Day 11,88 Minority Interests 0 0 0 0 Net Income -11 934 -16 645 -243 461 421 Key Figures 2006 EPS 0,00 -1,07 -15,63 0,02 (Preliminary figures) Price Book 0,00 0,00 0,00 2,19 Long Term Fixed Assets 90 498 148 263 207 772 114 548 Operating result per Share -8,04 Current Assets 109 628 107 981 114 450 242 142 BVPS 29,67 Cash 31 413 35 448 36 978 540 327 Gross Margin -0,60 Total Assets 231 539 291 692 359 200 897 017 EBITDA Margin -1,06 Total Equity 158 768 142 604 135 737 786 543 EBITDA -125 349 Long term debt 0 0 0 0 EBITA -146 407 Short term debt 57 549 132 181 204 047 89 071 Net Margin -0,30 Total Liability and Equity 231 539 291 690 359 199 897 017 ROE -4,25 Net Interestbearing Debt -11 413 44 552 -36 978 -540 327 Chg Operating Activities -79 367 -133 387 -151 353 -84 904 Chg Investing activities -582 -3 009 -33 512 -69 507 Chg Financing activities 4 729 65 209 115 210 613 667 Chg Cash and Liquids -75 220 -71 187 -69 655 459 256

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 54 Share Price Company: Petroleum Geo - Services ASA 160,0 Ticker: PGS 120,0 80,0

Company Presentation: Petroleum Geo-Services is a technologically focused 40,0 oilfield service company involved in providing geophysical services worldwide. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010199151 Revenue 1 790 725 1 872 246 1 797 859 2 256 633 2 519 186 1 934 163 2 062 527 2 318 510 Round Lot 50,00 Other Income 984 646 11 081 112 990 0 0 0 0 0 Reg.Share Capital (mill) 540 000,00 Operating Costs 1 215 208 1 234 132 1 168 604 1 366 488 1 458 841 1 043 415 1 043 921 1 240 781 Number of Shares 180 000,00 EBITDA 1 560 163 649 194 742 246 890 145 1 060 344 890 748 1 018 606 1 077 728 Currency NOK Depreciation 368 889 331 129 366 409 630 848 269 656 331 154 416 422 323 305 Gics 10 EBIT 1 191 274 318 065 375 837 259 297 790 689 559 594 602 184 754 423 Listed From 26-08-92 Net Financials -135 888 -139 345 -143 776 -870 690 -122 482 -87 617 -136 965 -7 855 Par Value 3,00 Pre Tax Profit 1 055 386 178 721 222 239 -557 836 688 226 492 868 815 810 758 752 Number of days traded 251 Tax 76 565 15 429 77 274 -37 464 218 631 220 308 135 333 245 613 Avg. Trades pr Day 1 040,94 Minority Interests 2 237 11 452 -84 12 804 387 10 736 -13 7 887 Net Income 976 584 151 839 145 049 -533 176 469 208 261 824 680 490 505 252 Key Figures 2006 EPS 4,86 0,76 0,72 -2,65 2,33 1,45 3,78 2,81 (Preliminary figures) Price Book 3,51 3,63 4,52 5,48 6,88 16,19 8,91 9,48 Long Term Fixed Assets 8 286 955 8 473 868 8 311 408 8 235 403 8 067 841 3 571 545 3 439 171 4 366 498 Operating result per Share 14,62 Current Assets 1 594 375 1 921 863 1 730 880 2 550 846 2 783 042 3 046 379 2 974 521 2 463 459 BVPS 15,46 Cash 2 263 195 840 244 1 422 321 822 153 814 157 877 344 658 224 892 653 Gross Margin 0,53 Total Assets 12 144 525 11 235 975 11 464 609 11 608 402 11 665 039 7 495 268 7 071 916 7 722 609 EBITDA Margin 0,47 Total Equity 2 383 265 2 612 064 2 773 943 2 282 967 2 670 520 1 300 648 2 142 525 2 782 569 EBITDA 3 905 624 Long term debt 5 867 522 6 017 934 6 001 649 7 241 135 6 134 330 3 881 094 2 403 578 2 563 077 EBITA 2 630 962 Short term debt 2 745 399 1 462 778 1 590 661 2 080 935 1 964 396 1 826 826 2 042 404 2 293 689 Net Margin 0,23 Total Liability and Equity 12 144 525 11 235 975 11 464 609 11 608 402 11 665 039 7 495 268 7 071 916 7 722 609 ROE 44,88 Net Interestbearing Debt 5 076 069 5 433 558 4 827 682 6 584 178 5 470 189 3 149 540 1 915 699 1 795 026 Chg Operating Activities 462 664 148 169 754 614 434 171 484 537 721 233 1 077 612 1 314 658 Chg Investing activities 815 643 -275 454 -198 116 -302 172 -339 505 1 312 237 294 165 -704 136 Chg Financing activities -26 649 -1 308 115 -18 624 -591 832 -130 210 -1 928 412 -1 620 720 -464 149 Chg Cash and Liquids 1 251 596 -1 435 847 537 875 -459 833 14 821 105 057 -248 943 146 374

Company: Prosafe SE Share Price 100,0 80,0 Ticker: PRS 60,0 40,0 Company Presentation: Prosafe is the world’s leading owner/operator of semi-submersible accommodation/service rigs and a major owner/operator 20,0 of floating production and storage vessels (FPSOs). 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003074809 Revenue 414 990 519 217 476 905 499 962 501 166 469 179 708 481 662 795 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 459 873,58 Operating Costs 215 488 257 690 188 048 273 852 211 544 247 986 285 923 264 604 Number of Shares 229 936,79 EBITDA 199 502 261 527 288 857 226 110 289 622 221 193 422 558 398 191 Currency NOK Depreciation 78 650 74 813 74 961 77 580 78 745 77 885 101 844 111 108 Gics 10 EBIT 120 852 186 714 213 896 148 530 210 877 143 308 320 714 287 083 Listed From 23-04-97 Net Financials -5 755 -42 202 -16 155 -39 122 3 337 60 439 -76 541 -32 754 Par Value 2,00 Pre Tax Profit 117 655 148 348 717 942 109 408 214 214 203 747 244 173 254 328 Number of days traded 251 Tax 23 659 12 149 15 509 761 216 9 343 16 200 23 405 46 241 Avg. Trades pr Day 537,12 Minority Interests 0 0 0 0 0 0 0 0 Net Income 93 996 136 199 702 433 -651 807 204 871 187 547 220 768 208 087 Key Figures 2006 EPS 0,55 0,80 4,12 -3,83 1,20 1,05 0,99 0,91 (Preliminary figures) Price Book 2,23 2,24 2,26 3,10 3,81 2,72 2,36 2,63 Long Term Fixed Assets 4 548 230 4 495 207 4 578 256 4 746 212 5 572 745 9 683 211 11 853 515 12 006 664 Operating result per Share 4,92 Current Assets 951 148 1 000 899 287 817 378 370 380 469 528 731 476 144 495 404 BVPS 33,64 Cash 956 385 912 526 1 855 113 2 054 977 1 440 251 1 316 522 1 842 782 920 751 Gross Margin 1,00 Total Assets 6 455 764 6 408 632 6 721 186 7 179 560 7 393 464 11 528 464 14 172 440 13 422 819 EBITDA Margin 0,57 Total Equity 3 040 009 2 992 222 3 698 451 3 148 799 3 062 837 6 143 146 7 780 272 7 735 682 EBITDA 1 333 034 Long term debt 2 526 140 2 509 120 2 391 499 2 457 038 2 286 102 3 093 733 4 261 879 3 890 672 EBITA 962 711 Short term debt 858 194 880 450 603 762 777 724 1 248 700 1 466 340 1 303 542 1 160 321 Net Margin 0,35 Total Liability and Equity 6 455 764 6 408 632 6 721 186 7 179 560 7 393 464 11 528 464 14 172 440 13 422 819 ROE 8,95 Net Interestbearing Debt 1 927 172 1 724 897 716 926 990 938 1 852 316 2 089 331 2 613 588 3 075 633 Chg Operating Activities 203 339 118 295 408 406 220 143 742 073 351 417 311 858 122 668 Chg Investing activities -33 250 -23 019 -147 336 -92 831 -1 049 046 -4 468 103 -1 437 204 -680 135 Chg Financing activities -13 428 -168 810 -63 329 5 305 -258 925 4 067 463 1 603 571 -316 626 Chg Cash and Liquids 156 660 -73 534 197 741 132 616 -565 898 -49 223 457 982 -874 093

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 55 Share Price Company: Questerre Energy Corporation 8.0 Ticker: QEC 6.0 4.0 Company Presentation: Questerre is a Canadian based petroleum and natural gas exploration and production company. The Company aims to 2.0 create shareholder value through the development of scalable, high impact 0 Period projects. Jun 05 Mar 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CA74836K1003 Revenue 2 898 3 331 1 829 1 875 7 745 13 449 25 138 Round Lot 1 000,00 Other Income 0 0 0 0 -2 712 -2 620 -7 553 Reg.Share Capital (mill) 0,00 Operating Costs 3 353 3 325 4 355 4 524 6 548 6 854 29 946 Number of Shares 85 871,18 EBITDA -455 6 -2 527 -2 649 -1 515 3 975 -12 360 Currency CAD Depreciation 6 749 2 206 1 344 1 376 3 879 5 083 0 Gics 10 EBIT -7 204 -2 200 -3 871 -4 025 -5 394 -1 108 -12 360 Listed From 17-06-05 Net Financials -81 -428 323 199 1 390 713 0 Par Value 0,00 Pre Tax Profit -7 285 -2 628 -3 548 -3 826 -4 004 -395 -12 360 Number of days traded 251 Tax 0 0 0 0 0 -18 107 0 Avg. Trades pr Day 165,73 Minority Interests 0 0 0 0 0 0 0 Net Income -7 285 -2 628 -3 548 -3 826 -4 004 17 712 -12 360 Key Figures 2006 EPS -0,11 -0,04 -0,04 -0,03 -0,03 0,14 -0,09 (Preliminary figures) Price Book 0,00 2,43 3,05 2,37 3,17 2,18 2,25 Long Term Fixed Assets 48 290 71 608 82 420 99 764 137 174 212 498 239 692 Operating result per Share -0,17 Current Assets 2 420 3 044 9 184 14 600 20 444 31 286 31 600 BVPS 4,31 Cash 2 546 48 611 82 813 62 922 74 531 84 606 56 071 Gross Margin 0,70 Total Assets 53 256 123 263 174 417 177 286 232 149 328 389 327 362 EBITDA Margin 0,38 Total Equity 34 518 97 223 145 112 150 069 188 797 275 149 275 923 EBITDA 22 226 Long term debt 1 357 0 0 0 0 0 0 EBITA -27 585 Short term debt 1 882 9 741 12 965 11 859 27 162 34 163 30 169 Net Margin -0,10 Total Liability and Equity 53 256 123 263 174 417 177 299 232 149 328 389 327 362 ROE -1,26 Net Interestbearing Debt -1 189 -47 341 -81 675 -61 879 -73 649 -83 895 -54 197 Chg Operating Activities -1 655 4 828 931 -5 139 9 544 1 365 4 409 Chg Investing activities -198 -21 971 48 795 -61 660 -41 355 -63 634 -348 Chg Financing activities -12 595 61 852 -17 945 113 838 45 341 76 168 -35 898 Chg Cash and Liquids -14 448 44 709 31 781 47 039 13 530 13 899 -31 837

Company: Revus Energy ASA Share Price 70.0 Ticker: REVUS 50.0 30.0

Company Presentation: Revus is a Norwegian E&P company with focus on 10.0 the mature areas of the Norwegian Continental Shelf. The company has a large and diversified portfolio of assets in all phases of the value chain. 0 Period Jun 05 Mar 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010270309 Revenue 32 967 64 149 93 506 119 044 78 750 77 556 60 147 79 771 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 8 249,91 Operating Costs 25 588 58 703 42 742 122 038 59 005 60 119 154 500 121 541 Number of Shares 32 999,63 EBITDA 7 378 5 446 50 764 -2 994 19 745 17 437 -94 353 -41 770 Currency NOK Depreciation 3 810 5 879 9 162 11 035 11 740 10 579 11 275 7 582 Gics 10 EBIT 3 568 -433 41 602 -14 028 8 005 6 858 -105 628 -49 352 Listed From 27-06-05 Net Financials 8 810 4 640 627 6 916 -5 469 -11 511 3 870 -10 765 Par Value 0,25 Pre Tax Profit 12 378 4 207 42 229 -7 112 2 536 -4 653 -101 758 -60 117 Number of days traded 251 Tax 12 000 4 769 35 419 -4 425 4 632 -1 492 -78 770 -46 262 Avg. Trades pr Day 75,18 Minority Interests 0 0 0 0 0 0 0 0 Net Income 378 -562 6 810 -2 687 -2 096 -3 161 -22 988 -13 855 Key Figures 2006 EPS 0,01 -0,03 0,21 -0,08 -0,06 -0,10 -0,70 -0,42 (Preliminary figures) Price Book 0,00 3,57 4,39 3,93 4,42 4,33 3,97 4,70 Long Term Fixed Assets 298 017 489 918 514 672 491 850 496 320 500 748 530 476 670 236 Operating result per Share -4,23 Current Assets 18 078 36 829 50 558 93 518 88 816 85 649 229 595 298 489 BVPS 11,49 Cash 7 954 256 375 190 700 157 064 460 603 449 899 399 717 274 383 Gross Margin -0,11 Total Assets 324 049 783 122 755 930 742 432 1 045 738 1 036 296 1 159 788 1 243 108 EBITDA Margin -0,38 Total Equity 99 585 415 192 428 130 419 930 418 032 415 341 392 820 379 303 EBITDA -111 248 Long term debt 0 0 0 0 294 200 294 500 294 800 295 100 EBITA -139 680 Short term debt 40 594 150 266 64 155 73 965 78 515 72 611 189 289 195 009 Net Margin -0,14 Total Liability and Equity 324 049 783 122 755 930 742 432 1 045 738 1 036 296 1 159 788 1 243 108 ROE -6,30 Net Interestbearing Debt -7 954 -229 890 -190 700 -157 064 -166 403 -155 399 -104 917 20 717 Chg Operating Activities 36 429 99 286 -5 780 -16 027 28 884 11 710 -2 509 -13 768 Chg Investing activities -4 906 -148 406 -33 408 -17 923 -19 545 -22 414 -47 673 -111 566 Chg Financing activities -26 383 302 681 -26 485 313 294 200 0 0 0 Chg Cash and Liquids 5 140 253 561 -65 673 -33 637 303 539 -10 704 -50 182 -125 334

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 56 Company: Rocksource ASA Share Price 30.0 25.0 Ticker: RGT 20.0 15.0 Company Presentation: ocksource is a focused technology-driven E&P 10.0 company. Integrating electromagnetic- and seismic data enables us to explore 5.0 with greater precision, lower cost and less risk. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003987901 Revenue 39 1 743 2 325 6 873 2 996 2 990 3 294 8 326 Round Lot 10 000,00 Other Income 0 0 0 0 0 0 0 1 529 Reg.Share Capital (mill) 132 286,16 Operating Costs 4 962 9 502 10 302 29 470 40 027 20 363 19 551 37 162 Number of Shares 529 144,66 EBITDA -4 923 -7 759 -7 977 -22 597 -37 031 -17 373 -16 257 -27 307 Currency NOK Depreciation 18 591 608 3 689 1 567 1 262 2 777 3 315 Gics 10 EBIT -4 941 -8 350 -8 585 -26 286 -38 598 -18 635 -19 034 -30 622 Listed From 30-10-96 Net Financials 58 -580 -1 218 2 374 -279 -408 2 716 -475 Par Value 0,25 Pre Tax Profit -4 883 -8 930 -9 803 -23 912 -38 877 -19 043 -16 318 -31 097 Number of days traded 251 Tax 0 0 0 0 0 0 -6 726 -10 360 Avg. Trades pr Day 164,28 Minority Interests 0 -629 0 0 0 0 0 -38 Net Income -4 883 -8 301 -9 803 -23 912 -38 877 -19 043 -9 592 -20 699 Key Figures 2006 EPS -0,02 -0,02 -0,02 -0,05 -0,07 -0,04 -0,02 -0,04 (Preliminary figures) Price Book 19,25 2,97 2,26 2,30 1,93 1,71 1,64 1,87 Long Term Fixed Assets 118 782 165 356 165 005 188 952 193 856 197 764 196 331 224 415 Operating result per Share -0,20 Current Assets 3 464 5 338 251 905 10 276 14 702 13 639 15 029 33 485 BVPS 0,63 Cash 19 007 61 297 49 857 242 217 192 850 160 175 148 607 105 805 Gross Margin 0,46 Total Assets 141 253 231 991 466 767 441 445 401 408 371 578 359 967 363 705 EBITDA Margin -5,56 Total Equity 137 301 206 119 441 694 419 246 385 831 359 680 350 653 334 447 EBITDA -97 969 Long term debt 0 0 21 633 0 0 0 0 0 EBITA -106 890 Short term debt 3 952 25 873 3 440 22 197 15 579 11 899 9 315 23 658 Net Margin -5,01 Total Liability and Equity 141 253 231 992 466 767 441 443 401 410 371 579 359 968 363 705 ROE -13,60 Net Interestbearing Debt -19 007 -41 168 -28 224 -242 217 -192 850 -160 175 -148 607 -105 805 Chg Operating Activities -6 427 -7 135 -11 150 -7 045 -42 523 -16 914 -10 548 -15 869 Chg Investing activities -126 -10 215 -286 -27 277 -6 809 -5 734 -860 -26 473 Chg Financing activities 0 59 588 0 226 503 0 -10 000 -115 115 Chg Cash and Liquids -6 536 42 288 -11 440 192 361 -49 366 -32 677 -11 566 -42 803

Share Price 35.0 Company: GC Rieber Shipping ASA 30.0 Ticker: RISH 25.0 20.0 15.0 Company Presentation: GC Rieber Shipping develops, owns and operates 10.0 advanced multifunctional special-purpose vessels for defined markets in 5.0 offshore subsea support, marine seismic operations, ice-going research and 0 Period supply. The group owns nine vessels and has four newbuildings due to be Mar 05 Jan 06 Dec 06 delivered in 2008/2009.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010262686 Revenue 49 406 52 580 61 771 66 879 44 134 74 917 106 874 133 638 Round Lot 200,00 Other Income 19 671 22 660 21 844 11 684 6 505 7 083 6 308 12 538 Reg.Share Capital (mill) 78 863,04 Operating Costs 34 297 35 341 33 926 38 867 36 157 36 851 58 049 81 130 Number of Shares 4 381,28 EBITDA 30 440 37 274 46 326 40 302 12 320 43 612 50 808 62 726 Currency NOK Depreciation 21 979 22 958 23 184 -74 284 15 566 14 676 26 251 30 316 Gics 10 EBIT 8 461 14 316 23 142 114 586 -3 246 28 936 24 557 32 410 Listed From 09-03-05 Net Financials -24 236 -31 172 660 -6 808 -3 018 -9 007 -2 142 -18 397 Par Value 18,00 Pre Tax Profit -15 775 -16 856 23 802 107 778 -6 264 19 929 22 415 14 013 Number of days traded 38 Tax -6 218 -5 953 1 530 -8 722 1 390 5 391 -138 11 689 Avg. Trades pr Day 1,24 Minority Interests 0 0 0 0 -3 241 -11 186 31 -4 747 Net Income -9 557 -10 903 22 272 116 500 -4 413 25 724 22 522 7 071 Key Figures 2006 EPS -2,18 -2,51 5,13 26,80 -1,02 5,92 5,18 1,63 (Preliminary figures) Price Book 0,71 0,76 0,87 1,00 0,87 0,91 0,84 1,23 Long Term Fixed Assets 1 091 243 1 080 081 1 061 167 1 061 242 1 167 995 1 369 530 1 705 360 1 808 604 Operating result per Share 19,02 Current Assets 159 586 183 025 196 272 159 389 167 621 309 826 350 455 695 775 BVPS 236,21 Cash 103 257 97 624 84 775 365 940 515 563 307 640 214 630 0 Gross Margin 1,03 Total Assets 1 354 086 1 360 730 1 342 214 1 586 571 1 851 179 1 986 996 2 270 445 2 504 379 EBITDA Margin 0,43 Total Equity 768 474 758 700 781 504 739 392 1 011 028 1 015 779 1 100 865 1 034 894 EBITDA 169 467 Long term debt 517 324 508 159 491 457 768 352 746 339 832 656 967 566 1 135 136 EBITA 82 657 Short term debt 50 673 83 392 57 896 73 087 88 072 131 601 188 065 308 727 Net Margin 0,13 Total Liability and Equity 1 354 086 1 360 730 1 342 214 1 586 571 1 851 179 1 986 994 2 270 445 2 503 749 ROE 2,08 Net Interestbearing Debt 414 067 410 535 406 682 402 412 230 776 525 016 752 936 1 135 136 Chg Operating Activities 51 258 88 692 94 310 193 768 33 533 31 667 75 999 129 649 Chg Investing activities -215 505 -227 301 -230 799 -295 444 -145 031 -437 966 -706 518 -853 114 Chg Financing activities 103 590 78 309 63 202 309 583 281 074 402 721 517 068 707 468 Chg Cash and Liquids -60 657 -60 300 -73 287 207 907 169 576 -3 578 -113 451 -15 997

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 57 Company: Reservoir Exploration Technology ASA Share Price 60,0 50,0 Ticker: RXT 40,0 30,0 Company Presentation: Reservoir Exploration Technology (RXT) is a marine 20,0 geophysical company specialising in multi component sea-floor acquisition. 10,0 0 Period 12.28.06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010277957 Revenue 33 048 21 562 60 258 103 457 123 683 Round Lot 200,00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 2 555,20 Operating Costs 48 882 54 301 77 399 95 752 114 929 Number of Shares 25 552,02 EBITDA -15 834 -32 739 -17 141 7 705 8 754 Currency NOK Depreciation 0 0 0 0 0 Gics 10 EBIT -15 834 -32 739 -17 141 7 705 8 754 Listed From 21-12-06 Net Financials 2 931 -2 996 -7 670 22 703 -39 382 Par Value 0,10 Pre Tax Profit -12 904 -35 736 -24 811 30 408 -30 629 Number of days traded 5 Tax 0 0 0 0 -32 112 Avg. Trades pr Day 30,00 Minority Interests 0 0 0 0 0 Net Income -12 904 -35 736 -24 811 30 408 1 484 Key Figures 2006 EPS -0,65 -1,79 -1,24 1,52 0,07 (Preliminary figures) Price Book 0,00 0,00 0,00 0,00 3,14 Long Term Fixed Assets 155 362 233 475 362 128 387 374 474 993 Operating result per Share -1,61 Current Assets 26 994 19 669 53 410 70 049 90 618 BVPS 17,37 Cash 211 231 207 652 41 318 4 007 222 200 Gross Margin 0,26 Total Assets 393 586 460 795 456 856 461 430 787 811 EBITDA Margin -0,10 Total Equity 275 445 236 167 201 480 189 313 443 912 EBITDA -32 585 Long term debt 53 960 178 373 172 115 164 998 219 097 EBITA -32 585 Short term debt 64 181 46 255 83 255 84 847 124 802 Net Margin -0,26 Total Liability and Equity 393 586 460 795 456 850 461 443 787 811 ROE -10,53 Net Interestbearing Debt -157 271 -29 279 130 797 186 015 26 278 Chg Operating Activities 10 569 -30 664 2 598 -4 770 50 949 Chg Investing activities -24 474 -91 104 -153 932 -30 598 -96 805 Chg Financing activities -1 731 124 030 -3 981 -2 606 270 050 Chg Cash and Liquids -15 635 2 262 -155 315 -37 973 224 194

Company: SeaBird Exploration Ltd Share Price 60.0 50.0 Ticker: SBX 40.0 30.0 Company Presentation: SeaBird Exploration Limited is a global provider of 2D, 20.0 source and shallow water 3D marine seismic data to the oil and gas industry. 10.0 SeaBird specializes in high quality operations within the high end of the source 0 Period vessel and 2D market, as well as in the shallow water 2D/3D market. Apr 06 Aug 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin VGG7944D1087 Revenue 49 010 51 699 63 852 131 994 Round Lot 200,00 Other Income 4 167 8 231 8 635 0 Reg.Share Capital (mill) 81 295,00 Operating Costs 33 249 36 446 47 108 97 807 Number of Shares 81 295,00 EBITDA 19 929 23 484 25 379 34 187 Currency USD Depreciation 3 556 4 225 6 376 10 854 Gics 10 EBIT 16 373 19 259 19 002 23 333 Listed From 11-04-06 Net Financials -1 060 -348 -3 277 -4 592 Par Value 1,00 Pre Tax Profit 15 313 18 911 15 726 18 741 Number of days traded 180 Tax 0 0 0 -1 901 Avg. Trades pr Day 64,87 Minority Interests 0 0 0 0 Net Income 15 313 18 911 15 726 20 642 Key Figures 2006 EPS 0,25 0,28 0,21 0,25 (Preliminary figures) Price Book 0,00 3,04 3,56 2,70 Long Term Fixed Assets 304 564 728 710 1 107 171 1 587 069 Operating result per Share 0,87 Current Assets 56 148 91 611 114 919 147 176 BVPS 14,58 Cash 63 307 49 385 145 868 102 502 Gross Margin 1,00 Total Assets 424 020 869 705 1 367 958 1 836 748 EBITDA Margin 0,32 Total Equity 300 329 689 418 721 696 1 185 366 EBITDA 93 601 Long term debt 48 921 25 604 320 981 458 267 EBITA 68 513 Short term debt 74 770 154 516 321 436 192 795 Net Margin 0,24 Total Liability and Equity 424 020 869 705 1 367 964 1 836 748 ROE 5,57 Net Interestbearing Debt -14 387 -23 781 175 113 414 044 Chg Operating Activities 38 613 78 017 158 010 37 051 Chg Investing activities -122 443 -373 426 -315 388 -276 274 Chg Financing activities 1 483 284 777 249 183 200 444 Chg Cash and Liquids -82 348 -10 632 91 805 -38 779

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 58 Company: Scana Industrier ASA Share Price 9.0 Ticker: SCI 7.0 5.0

Company Presentation: Scana is a industrial group operating in three business 3.0 areas; Steel, Marine and Oil & Gas; Main products are customised steel forgings and castings, gears, propulsion systems and valvecontrol systems for ships and 0 Period maintenance, design and manufacturing of equipment to the oil & gas industry. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003053308 Revenue 394 000 429 000 322 000 432 000 457 000 464 000 419 000 575 000 Round Lot 1 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 209 167,19 Operating Costs 354 000 381 000 289 000 377 000 399 000 407 000 380 000 468 000 Number of Shares 167 333,75 EBITDA 40 000 48 000 33 000 55 000 58 000 57 000 39 000 107 000 Currency NOK Depreciation 12 000 11 000 12 000 7 000 11 000 9 000 10 000 18 000 Gics 10 EBIT 28 000 37 000 21 000 48 000 47 000 48 000 29 000 89 000 Listed From 04-12-95 Net Financials -8 000 -16 000 0 -6 000 -8 000 -4 000 2 000 8 000 Par Value 1,25 Pre Tax Profit 20 000 21 000 21 000 42 000 39 000 44 000 31 000 97 000 Number of days traded 251 Tax 4 000 5 000 3 000 7 000 5 000 5 000 1 000 9 000 Avg. Trades pr Day 26,62 Minority Interests 0 0 0 3 000 1 000 2 000 7 000 5 000 Net Income 16 000 16 000 18 000 32 000 33 000 37 000 23 000 83 000 Key Figures 2006 EPS 0,14 0,10 0,11 0,19 0,20 0,22 0,14 0,50 (Preliminary figures) Price Book 1,76 1,88 1,87 1,74 2,05 2,24 2,43 2,37 Long Term Fixed Assets 433 000 419 000 424 000 446 000 449 000 491 000 524 000 572 000 Operating result per Share 1,26 Current Assets 556 000 568 000 574 000 622 000 655 000 764 000 797 000 895 000 BVPS 3,45 Cash 161 000 186 000 103 000 119 000 128 000 72 000 67 000 90 000 Gross Margin 0,61 Total Assets 1 150 000 1 173 000 1 101 000 1 187 000 1 232 000 1 327 000 1 388 000 1 557 000 EBITDA Margin 0,14 Total Equity 299 000 373 000 393 000 437 000 491 000 505 000 542 000 614 000 EBITDA 259 000 Long term debt 443 000 408 000 386 000 323 000 259 000 265 000 260 000 270 000 EBITA 211 000 Short term debt 360 000 340 000 322 000 427 000 430 000 494 000 515 000 614 000 Net Margin 0,09 Total Liability and Equity 1 150 000 1 173 000 1 101 000 1 187 000 1 232 000 1 327 000 1 388 000 1 557 000 ROE 21,09 Net Interestbearing Debt 344 000 291 000 340 000 327 000 237 000 333 000 326 000 324 000 Chg Operating Activities -2 000 -18 000 11 000 36 000 52 000 -14 000 44 000 88 000 Chg Investing activities -9 000 -10 000 -14 000 -19 000 -15 000 -51 000 -27 000 -55 000 Chg Financing activities 121 000 53 000 -79 000 -1 000 -31 000 7 000 -21 000 -10 000 Chg Cash and Liquids 110 000 25 000 -82 000 16 000 6 000 -58 000 -4 000 23 000 Share Price Company: Scorpion Offshore Ltd. 80.0 Ticker: SCORE 60.0 40.0 Company Presentation: Scorpion Offshore, founded in 2005, is constructing five LeTourneau Super 116 jackups at Keppel AmFELS in Texas, USA. 20.0 Scorpion will, own, market and operate these rigs worldwide beginning with 0 Period its first delivery in May 2007. Dec 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG786761061 Revenue 0 0 0 Round Lot 100,00 Other Income 0 0 0 Reg.Share Capital (mill) 98,15 Operating Costs 20 244 20 861 70 751 Number of Shares 49 076,39 EBITDA -20 244 -20 861 -70 751 Currency USD Depreciation 0 0 0 Gics 10 EBIT -20 244 -20 861 -70 751 Listed From 20-12-05 Net Financials 8 401 24 551 45 566 Par Value 0,00 Pre Tax Profit -11 843 3 690 -25 185 Number of days traded 251 Tax 0 0 399 Avg. Trades pr Day 110,61 Minority Interests 0 0 0 Net Income -11 843 3 690 -25 584 Key Figures 2006 EPS -0,32 0,08 -0,58 (Preliminary figures) Price Book 1,58 1,97 2,13 Long Term Fixed Assets 1 360 529 1 663 951 1 897 596 Operating result per Share -2,06 Current Assets 921 1 428 5 787 BVPS 31,04 Cash 1 454 086 1 237 865 957 153 Gross Margin 0 Total Assets 2 815 536 2 903 245 2 860 536 EBITDA Margin 0 Total Equity 1 273 910 1 411 295 1 360 481 EBITDA -73875,86 Long term debt 1 522 958 1 481 063 1 404 540 EBITA -73875,86 Short term debt 18 668 10 887 95 515 Net Margin 0 Total Liability and Equity 2 815 536 2 903 245 2 860 536 ROE Net Interestbearing Debt 68 872 243 197 447 387 Chg Operating Activities 3 753 -2 202 -27 278 Chg Investing activities -774 603 -345 465 -1 673 648 Chg Financing activities 1 832 096 169 015 2 634 093 Chg Cash and Liquids 1 061 246 -178 651 933 167

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 59 Company: Seadrill Limited Share Price 120.0 100.0 Ticker: SDRL 80.0 60.0 Company Presentation: Seadrill Limited is engaged in the business of 40.0 owning and operating offshore drilling rigs and other vessels to be used in the 20.0 exploration for and production of oil and gas reserves. 0 Period Nov 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG7945E1057 Revenue 32 020 121 191 1 073 070 1 397 567 1 563 719 1 990 311 Round Lot 100,00 Other Income 0 0 205 538 319 640 335 896 495 811 Reg.Share Capital (mill) 766 266,43 Operating Costs 32 983 123 426 904 902 1 062 351 1 195 562 1 707 082 Number of Shares 383 133,22 EBITDA -963 -2 235 373 706 654 857 704 053 779 041 Currency USD Depreciation 34 159 35 919 214 881 286 617 297 309 272 311 Gics 10 EBIT -35 122 -38 154 158 825 368 240 406 744 506 730 Listed From 22-11-05 Net Financials -43 606 55 235 530 529 -110 285 2 530 -137 440 Par Value 2,00 Pre Tax Profit -78 728 17 081 689 354 257 955 409 274 369 290 Number of days traded 251 Tax 0 9 363 48 048 50 469 42 382 1 927 Avg. Trades pr Day 992,68 Minority Interests 246 278 176 176 0 12 019 13 487 Net Income -78 974 7 440 465 131 207 485 354 873 353 876 Key Figures 2006 EPS -0,36 0,03 1,58 0,57 0,96 0,92 (Preliminary figures) Price Book 0,00 2,20 1,70 1,28 1,79 2,34 Long Term Fixed Assets 5 453 083 5 236 700 30 630 347 30 653 929 34 805 999 36 836 909 Operating result per Share 4,12 Current Assets 457 368 2 217 521 1 307 285 1 519 400 1 889 615 3 561 654 BVPS 40,00 Cash 113 877 334 408 3 157 625 2 707 953 3 385 046 1 316 073 Gross Margin 0,49 Total Assets 6 024 328 7 788 628 35 095 257 34 881 283 40 080 660 41 714 636 EBITDA Margin 0,34 Total Equity 4 296 254 5 442 157 12 239 501 14 929 324 18 727 031 18 550 750 EBITDA 2 526 796 Long term debt 1 036 142 1 196 368 14 740 851 12 494 788 15 261 978 16 008 677 EBITA 1 451 127 Short term debt 691 932 1 150 104 5 226 505 4 923 381 3 444 889 4 508 051 Net Margin 0,19 Total Liability and Equity 6 024 328 7 788 628 35 095 257 34 881 283 40 080 660 41 714 636 ROE 8,69 Net Interestbearing Debt 1 096 263 861 960 11 583 225 12 748 229 13 298 859 16 290 157 Chg Operating Activities -65 733 129 287 3 251 242 1 114 689 1 211 376 1 823 327 Chg Investing activities -1 063 084 -362 526 -22 040 646 -22 815 301 -25 495 194 -30 439 100 Chg Financing activities 857 065 445 397 21 659 600 24 094 484 27 261 969 29 628 590 Chg Cash and Liquids -271 752 212 159 2 870 196 2 393 871 2 978 150 1 032 727

Company: Sevan Marine ASA Share Price 50,0 40,0 Ticker: SEVAN 30,0 20,0 Company Presentation: SEVAN is a company specializing in building, owning and operating floating units for offshore applications. The Company has develo- 10,0 ped a cylinder shaped platform type, suitable for applications in all offshore 0 environments. Presently SEVAN is focusing on floating production and drilling. Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010187032 Revenue 0 4 500 33 900 109 400 86 086 47 977 4 428 3 211 Round Lot 200,00 Other Income 0 0 0 0 0 24 923 0 7 065 Reg.Share Capital (mill) 28 934,14 Operating Costs 8 800 15 100 42 600 128 500 125 458 67 293 28 466 121 384 Number of Shares 144 670,71 EBITDA -8 800 -10 600 -8 700 -19 100 -39 373 5 608 -24 038 -111 108 Currency NOK Depreciation 200 300 400 3 800 667 1 246 1 265 1 927 Gics 10 EBIT -9 000 -10 900 -9 100 -22 900 -40 040 4 362 -25 303 -113 035 Listed From 13-12-04 Net Financials 600 -600 -200 3 900 2 002 58 569 -18 977 -1 927 Par Value 0,20 Pre Tax Profit -8 400 -11 500 -9 300 -19 000 -38 038 62 931 -44 280 -114 961 Number of days traded 251 Tax -1 900 -2 400 -1 500 -1 800 -9 343 6 854 1 898 -3 211 Avg. Trades pr Day 157,53 Minority Interests 0 0 0 0 0 0 0 0 Net Income -6 500 -9 100 -7 800 -17 200 -28 695 56 077 -46 178 -111 750 Key Figures 2006 EPS -0,09 -0,12 -0,09 -0,18 -0,26 0,39 -0,32 -0,77 (Preliminary figures) Price Book 4,21 3,19 3,99 4,13 2,63 2,31 2,05 2,22 Long Term Fixed Assets 182 100 382 600 605 900 1 067 000 1 350 071 1 891 447 2 313 722 3 367 120 Operating result per Share -1,17 Current Assets 8 100 259 600 344 500 292 900 72 408 152 939 98 871 67 555 BVPS 15,31 Cash 758 900 750 800 789 000 488 700 2 254 506 1 605 545 1 339 318 1 934 077 Gross Margin 1,00 Total Assets 949 100 1 393 000 1 739 400 1 848 600 3 676 985 3 649 931 3 751 911 5 368 752 EBITDA Margin -0,82 Total Equity 287 000 451 600 748 000 736 000 2 467 779 2 403 948 2 516 668 2 263 721 EBITDA -154 034 Long term debt 648 200 650 000 651 900 766 500 1 026 212 1 009 396 1 027 092 2 540 196 EBITA -159 168 Short term debt 13 900 291 200 339 400 340 400 177 069 231 593 204 248 558 580 Net Margin -0,68 Total Liability and Equity 949 100 1 393 000 1 739 400 1 848 500 3 676 985 3 649 931 3 751 911 5 368 752 ROE -5,05 Net Interestbearing Debt -110 700 -100 800 -137 100 277 800 -1 228 295 -596 149 -312 226 606 119 Chg Operating Activities -12 700 30 400 -21 500 -4 800 -23 357 -61 685 -37 954 214 509 Chg Investing activities -51 000 -276 700 -133 900 -466 100 -282 949 -839 288 -1 215 804 -2 434 743 Chg Financing activities 755 600 190 000 241 800 170 600 2 110 772 2 054 293 2 100 140 3 742 991 Chg Cash and Liquids 691 900 -56 300 86 400 -300 300 1 804 466 1 153 320 846 382 1 522 758

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 60 Company: Sinvest ASA Share Price 150.0 120.0 Ticker: SIN 90.0 60.0 Company Presentation: Sinvest`s objective is to be an active long-term financial and strategic investor in the oil- and offshore industry. 30.0 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010094519 Revenue 57 9 20 518 1 235 36 476 27 459 209 076 Round Lot 100,00 Other Income 6 616 2 339 168 452 2 227 730 828 32 031 746 1 278 Reg.Share Capital (mill) 364 232,49 Operating Costs 2 276 4 603 5 994 6 582 50 952 182 246 13 914 102 534 Number of Shares 60 705,42 EBITDA 4 397 -2 255 162 478 -3 837 681 111 -113 739 14 291 107 820 Currency NOK Depreciation 0 0 0 0 0 11 327 3 952 8 523 Gics 10 EBIT 4 397 -2 255 162 478 -3 837 681 111 -125 066 10 339 99 297 Listed From 20-04-01 Net Financials -51 681 -87 441 -88 936 -28 061 -33 936 -27 063 -10 778 -74 115 Par Value 6,00 Pre Tax Profit -47 284 -89 696 73 542 -31 898 647 175 -152 129 -439 25 182 Number of days traded 251 Tax 0 417 0 0 0 0 1 626 7 264 Avg. Trades pr Day 380,89 Minority Interests 0 897 0 -393 0 0 0 0 Net Income -47 284 -91 010 73 542 -31 505 647 175 -152 129 -2 065 17 919 Key Figures 2006 EPS -0,84 -1,62 1,29 -0,55 10,80 -2,51 -0,03 0,30 (Preliminary figures) Price Book 1,94 2,36 3,25 3,68 4,65 5,30 33,88 5,59 Long Term Fixed Assets 1 419 780 1 681 786 2 255 612 2 827 161 1 925 605 3 288 705 551 856 4 561 957 Operating result per Share 13,77 Current Assets 1 553 1 130 870 6 597 77 871 83 301 36 058 519 642 BVPS 23,95 Cash 344 173 356 792 475 122 186 130 4 097 713 3 085 823 425 095 1 718 389 Gross Margin 0,82 Total Assets 1 765 506 2 039 708 2 731 604 3 019 888 6 101 189 6 457 829 1 013 009 6 799 988 EBITDA Margin 0,78 Total Equity 1 141 856 1 254 285 1 607 890 1 829 378 1 570 410 1 299 828 205 170 1 453 954 EBITDA 872 050 Long term debt 599 581 757 275 1 082 471 1 086 190 4 303 967 4 897 837 775 345 5 020 925 EBITA 833 349 Short term debt 24 069 28 148 41 243 104 320 203 469 246 947 32 494 293 170 Net Margin 0,58 Total Liability and Equity 1 765 506 2 039 708 2 731 604 3 019 888 6 101 189 6 457 829 1 013 009 6 799 988 ROE 26,87 Net Interestbearing Debt 255 408 400 483 607 349 900 060 206 254 1 812 014 350 250 3 302 536 Chg Operating Activities -47 352 -132 751 -212 430 -236 127 -17 881 -327 655 -34 619 -113 927 Chg Investing activities -416 953 -412 173 -637 751 -897 716 446 749 -1 346 292 -220 561 -2 667 440 Chg Financing activities 594 926 688 164 1 111 751 1 106 421 3 486 307 662 057 655 312 4 385 401 Chg Cash and Liquids 130 621 143 240 261 570 -27 422 3 915 175 -1 011 890 400 132 1 604 034

Share Price 12.0 Company: Siem Offshore Inc. 10.0 Ticker: SIOFF 8.0 6.0 Company Presentation: Siem Offshore Inc is an industrial investment 4.0 company within the marine sector of the oil service business. 2.0 0 Period Aug 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin KYG813131011 Revenue 29 280 57 701 71 585 104 609 137 629 155 924 Round Lot 1 000,00 Other Income 0 11 000 26 219 29 036 41 415 2 518 Reg.Share Capital (mill) 1 674,99 Operating Costs 27 878 55 056 49 242 76 620 81 172 129 110 Number of Shares 167 498,90 EBITDA 1 402 13 646 48 562 57 024 97 872 29 331 Currency USD Depreciation 5 958 6 962 10 424 16 518 19 901 22 652 Gics 10 EBIT -4 556 6 684 38 138 40 506 77 971 6 679 Listed From 12-08-05 Net Financials 9 209 981 16 683 42 631 -26 049 95 469 Par Value 0,01 Pre Tax Profit 4 653 -12 466 54 821 83 137 51 922 104 210 Number of days traded 250 Tax 1 764 4 144 981 1 514 2 676 2 614 Avg. Trades pr Day 35,73 Minority Interests 0 0 0 0 0 -1 541 Net Income 2 889 -16 610 53 840 81 623 49 246 103 138 Key Figures 2006 EPS 0,02 -0,13 0,37 0,49 0,29 0,61 (Preliminary figures) Price Book 1,51 1,40 1,06 1,33 1,79 2,29 Long Term Fixed Assets 188 468 325 514 642 116 818 397 1 229 297 1 649 376 Operating result per Share 0,71 Current Assets 140 913 156 702 244 066 201 299 395 733 297 930 BVPS 4,93 Cash 170 846 146 942 177 543 173 002 141 393 215 075 Gross Margin 1,00 Total Assets 500 226 629 157 1 063 725 1 192 698 1 766 423 2 162 382 EBITDA Margin 0,35 Total Equity 386 054 368 759 617 847 663 218 741 464 862 134 EBITDA 183 756 Long term debt 39 091 129 424 264 281 250 189 618 935 1 080 062 EBITA 113 831 Short term debt 71 882 128 260 128 003 225 688 352 717 168 913 Net Margin 0,55 Total Liability and Equity 500 226 629 157 1 063 719 1 192 698 1 766 436 2 162 382 ROE 27,62 Net Interestbearing Debt -131 755 -17 517 86 738 77 187 477 543 887 011 Chg Operating Activities -131 233 -65 466 -14 007 62 563 -37 429 219 576 Chg Investing activities -169 159 -325 877 -56 556 -203 847 -549 376 -894 509 Chg Financing activities 434 752 535 125 94 895 160 929 574 641 792 637 Chg Cash and Liquids 168 778 143 935 35 115 37 422 190 117 704

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 61 Share Price Company: Solstad Offshore ASA 160.0 Ticker: SOFF 120.0 80.0 Company Presentation: Provider of maritime services to oil related offshore companies world wide. Focus towards special tonnage and know-how. The 40.0 business is operated from Skudeneshavn, Aberdeen, Rio and Singapore. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003080608 Isin NO0010096985 Revenue 264 481 334 170 355 009 327 068 306 381 426 793 521 834 540 383 Round Lot 100,00 Round Lot 50,00 Other Income -1 349 18 423 0 37 270 0 5 310 0 87 647 Reg.Share Capital (mill) 75 588,32 Reg.Share Capital (mill) 5 415 359,29 Operating Costs 123 005 149 552 0 161 000 169 587 178 957 184 667 309 453 Number of Shares 37 794,16 Number of Shares 2 166 143,72 EBITDA 140 127 203 041 355 009 203 338 136 794 253 146 337 167 318 577 Currency NOK Currency NOK Depreciation 70 231 79 203 215 707 86 466 88 792 99 811 101 155 44 279 Gics 10 Gics 10 EBIT 69 896 123 838 139 302 116 872 48 002 153 335 236 012 274 298 Listed From 27-10-97 Listed From 18-06-01 Net Financials -45 106 -43 425 -5 894 -75 660 16 645 49 323 -114 618 287 887 Par Value 2,00 Par Value 2,50 Pre Tax Profit 24 790 202 573 134 067 41 212 64 647 202 658 121 394 562 185 Number of days traded 242 Number of days traded 251 Tax 2 241 8 105 3 999 -9 338 5 357 9 757 12 774 33 326 Avg. Trades pr Day 16,16 Avg. Trades pr Day 1 966,22 Minority Interests 1 883 12 968 0 -1 861 14 997 32 206 0 31 211 Net Income 20 666 181 500 130 068 52 411 44 293 160 695 108 620 497 648 Key Figures 2006 Key Figures 2006 EPS 0,55 4,80 3,44 1,39 1,17 4,25 2,87 13,17 (Preliminary figures) (Preliminary figures) Price Book 1,34 1,33 1,52 1,47 1,56 1,74 1,57 1,67 Long Term Fixed Assets 4 701 150 5 458 944 5 786 094 5 530 445 6 673 888 7 100 275 6 789 387 6 378 154 Operating result per Share 18,69 Operating result per Share 54,01 Current Assets 273 172 409 981 425 412 360 921 400 365 545 259 1 858 224 641 817 BVPS 82,12 BVPS 56,43 Cash 536 550 587 342 552 023 702 450 627 537 359 564 0 1 291 106 Gross Margin 1,00 Gross Margin 0,44 Total Assets 5 510 872 6 456 267 6 763 529 6 593 816 7 701 790 8 005 098 8 647 611 8 311 077 EBITDA Margin 0,55 EBITDA Margin 0,33 Total Equity 2 462 963 2 575 980 2 787 970 2 699 257 2 775 795 2 617 456 2 786 323 3 172 597 EBITDA 1 040 372 EBITDA 138 648 000 Long term debt 2 467 604 3 184 410 3 435 262 3 217 413 4 141 204 4 600 305 4 362 164 3 863 501 EBITA 706 335 EBITA 116 881 000 Short term debt 432 752 563 687 540 297 526 761 557 370 568 689 1 499 124 900 588 Net Margin 0,44 Net Margin 0,10 Total Liability and Equity 5 510 872 6 456 267 6 763 529 6 593 815 7 701 790 8 005 097 8 647 611 8 311 077 ROE 18,03 ROE 20,84 Net Interestbearing Debt 2 206 106 2 935 474 2 998 369 2 886 075 3 862 341 4 575 903 4 362 164 3 195 146 Chg Operating Activities 26 624 65 795 190 526 54 608 49 468 221 120 238 429 648 549 Chg Investing activities 27 469 -621 555 -274 599 235 991 -475 961 -729 132 370 040 262 471 Chg Financing activities 15 300 606 552 48 754 -140 172 351 580 240 039 -118 665 -469 282 Chg Cash and Liquids 69 393 50 792 -35 319 150 427 -74 913 -267 973 489 804 441 738

Company: Songa Offshore ASA Share Price 80,0 Ticker: SONG 60,0 40,0 Company Presentation: Songa Offshore is a drilling contractor established in April 2005. Owns and operates four semi-rigs and one drillship. Operational 20,0 management in Singapore and financial management in Oslo, Norway. 0 Period Jan 06 Jul 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010268451 Isin KYG8549P1081 Revenue 17 357 8 474 27 441 268 567 Round Lot 200,00 Round Lot 100,00 Other Income 0 0 0 0 Reg.Share Capital (mill) 81 910,34 Reg.Share Capital (mill) 1 472,62 Operating Costs 42 269 30 494 42 515 143 259 Number of Shares 81 910,34 Number of Shares 147 261,52 EBITDA -24 912 -22 020 -15 074 125 308 Currency NOK Currency USD Depreciation 0 15 353 24 177 48 335 Gics 10 Gics 10 EBIT -24 912 -37 372 -39 251 76 973 Listed From 26-01-06 Listed From 17-10-02 Net Financials -57 464 -29 615 -29 275 -42 850 Par Value 1,00 Par Value 0,01 Pre Tax Profit -82 375 -66 987 -68 527 34 122 Number of days traded 233 Number of days traded 251 Tax -23 063 -18 636 -19 312 10 443 Avg. Trades pr Day 264,96 Avg. Trades pr Day 462,73 Minority Interests 0 0 0 0 Net Income -59 312 -48 351 -49 214 23 679 Key Figures 2006 Key Figures 2006 EPS -1,00 0,00 -0,63 0,30 (Preliminary figures) (Preliminary figures) Price Book 4,93 4,34 4,50 5,33 Long Term Fixed Assets 1 967 318 3 911 425 4 603 669 4 533 196 Operating result per Share -0,34 Operating result per Share 8,69 Current Assets 376 940 40 844 48 291 314 137 BVPS 12,34 BVPS 22,59 Cash 0 70 776 52 864 566 843 Gross Margin 1,00 Gross Margin 1,00 Total Assets 2 344 259 4 023 046 4 704 823 5 414 177 EBITDA Margin 0,20 EBITDA Margin 0,16 Total Equity 828 098 823 092 890 448 1 010 812 EBITDA 63 289 EBITDA 1 710 854 Long term debt 0 2 609 498 3 446 802 2 410 103 EBITA -25 358 EBITA 1 278 847 Short term debt 270 567 590 456 367 574 1 993 263 Net Margin -0,41 Net Margin 0,08 Total Liability and Equity 2 344 259 4 023 046 4 704 823 5 414 177 ROE -10,89 ROE 19,45 Net Interestbearing Debt 0 2 860 829 3 393 938 3 382 902 Chg Operating Activities -230 543 -135 401 107 221 -130 947 Chg Investing activities -162 082 -2 224 039 -2 703 140 -2 893 966 Chg Financing activities 555 027 2 416 252 2 633 285 3 592 662 Chg Cash and Liquids 162 402 56 812 37 366 567 749

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 62 Company: Statoil ASA Share Price 250 200 Ticker: STL 150 100 Company Presentation: Statoil is the leading producer on the NSC and one of the world`s largest operators for offshore oil and gas activities. The Group 50 has some 25 000 employees and activities in 33 countries (Jan. 2007). ’ 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003080608 (All figures are in NOK ‘ 000) Isin NO0010096985 Round Lot 100,00 Revenue 84 149 000 92 748 000 104 895 000 107 604 000 108 397 000 105 295 000 106 245 000 103 591 000 Round Lot 50,00 Reg.Share Capital (mill) 75 588,32 Other Income 474 000 347 000 242 000 1 695 000 620 000 778 000 96 000 144 000 Reg.Share Capital (mill) 5 415 359,29 Number of Shares 37 794,16 Operating Costs 58 616 000 66 640 000 76 834 000 73 871 000 72 649 000 71 298 000 71 252 000 71 319 000 Number of Shares 2 166 143,72 Currency NOK EBITDA 26 007 000 26 455 000 28 303 000 35 428 000 36 368 000 34 775 000 35 089 000 32 416 000 Currency NOK Gics 10 Depreciation 4 506 000 4 535 000 4 431 000 7 625 000 5 391 000 4 994 000 5 025 000 6 357 000 Gics 10 Listed From 27-10-97 EBIT 21 501 000 21 920 000 23 872 000 27 803 000 30 977 000 29 781 000 30 064 000 26 059 000 Listed From 18-06-01 Par Value 2,00 Net Financials -1 747 000 -860 000 543 000 -1 498 000 1 633 000 2 567 000 -2 197 000 2 811 000 Par Value 2,50 Number of days traded 242 Pre Tax Profit 19 754 000 21 060 000 24 415 000 26 305 000 32 610 000 32 348 000 27 867 000 28 870 000 Number of days traded 251 Avg. Trades pr Day 16,16 Tax 12 831 000 14 106 000 15 501 000 17 601 000 22 213 000 22 319 000 19 059 000 16 769 000 Avg. Trades pr Day 1 966,22 Minority Interests 150 000 204 000 230 000 181 000 134 000 280 000 217 000 89 000 Key Figures 2006 Net Income 6 773 000 6 750 000 8 684 000 8 523 000 10 263 000 9 749 000 8 591 000 12 012 000 Key Figures 2006 (Preliminary figures) EPS 3,13 3,12 4,01 3,94 4,74 4,50 3,97 5,56 (Preliminary figures) Price Book 2,55 3,34 3,71 3,18 3,58 3,69 2,88 2,93 Operating result per Share 18,69 Long Term Fixed Assets 187 009 000 208 227 000 212 567 000 211 961 000 213 063 000 217 027 000 225 627 000 238 387 000 Operating result per Share 54,01 BVPS 82,12 Current Assets 64 823 000 48 601 000 61 406 000 66 093 000 90 690 000 75 017 000 89 523 000 69 714 000 BVPS 56,43 Gross Margin 1,00 Cash 14 702 000 2 038 000 10 024 000 7 025 000 19 742 000 9 054 000 17 209 000 7 367 000 Gross Margin 0,44 EBITDA Margin 0,55 Total Assets 266 534 000 258 866 000 283 997 000 285 079 000 323 495 000 301 098 000 332 359 000 315 468 000 EBITDA Margin 0,33 EBITDA 1 040 372 Total Equity 94 347 000 89 150 000 97 549 000 108 136 000 116 924 000 106 389 000 117 500 000 123 693 000 EBITDA 138 648 000 EBITA 706 335 Long term debt 32 224 000 32 780 000 32 054 000 60 044 000 32 086 000 28 771 000 31 247 000 30 271 000 EBITA 116 881 000 Net Margin 0,44 Short term debt 72 407 000 69 405 000 85 524 000 77 452 000 103 074 000 90 313 000 107 192 000 77 806 000 Net Margin 0,10 ROE 18,03 Total Liability and Equity 266 534 000 258 866 000 283 997 000 285 079 000 323 495 000 301 098 000 332 359 000 315 468 000 ROE 20,84 Net Interestbearing Debt 17 522 000 30 742 000 22 030 000 53 019 000 12 344 000 19 717 000 19 895 000 22 904 000 Chg Operating Activities 18 449 000 39 091 000 56 259 000 56 250 000 18 379 000 35 227 000 52 203 000 60 913 000 Chg Investing activities -7 142 000 -29 374 000 -37 038 000 -37 664 000 -7 030 000 -15 617 000 -23 976 000 -40 084 000 Chg Financing activities -1 631 000 -12 587 000 -14 092 000 -16 514 000 1 378 000 -17 557 000 -18 091 000 -20 536 000 Chg Cash and Liquids 9 673 000 -2 990 000 5 129 000 2 072 000 12 727 000 2 053 000 10 184 000 293 000

Share Price 140.0 Company: Subsea 7 Inc. 120.0 Ticker: SUB 100.0 80.0 60.0 Company Presentation: Subsea 7 is an industrial operating company within 40.0 the oil and gas service industry. Subsea 7 engineers, procures, constructs, 20.0 installs and maintains facilities for subsea production of oil and gas. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010268451 (All figures are in NOK ‘ 000) Isin KYG8549P1081 Round Lot 200,00 Revenue 1 667 455 2 144 566 2 202 608 2 359 006 2 661 254 2 879 836 2 622 955 2 535 093 Round Lot 100,00 Reg.Share Capital (mill) 81 910,34 Other Income 8 037 10 308 0 3 554 0 8 785 1 202 186 Reg.Share Capital (mill) 1 472,62 Number of Shares 81 910,34 Operating Costs 1 530 297 1 808 155 1 892 097 2 071 362 2 259 713 2 353 085 2 053 798 2 340 795 Number of Shares 147 261,52 Currency NOK EBITDA 145 194 346 718 310 511 291 198 401 540 535 537 570 359 194 484 Currency USD Gics 10 Depreciation 93 594 102 814 87 368 119 799 101 835 103 955 104 324 121 223 Gics 10 Listed From 26-01-06 EBIT 51 601 243 904 223 144 171 400 299 706 431 582 466 035 73 261 Listed From 17-10-02 Par Value 1,00 Net Financials -16 733 -50 362 -26 669 -21 033 37 017 56 158 -29 642 -12 710 Par Value 0,01 Number of days traded 233 Pre Tax Profit 34 867 193 543 196 474 150 367 336 722 487 740 436 393 60 551 Number of days traded 251 Avg. Trades pr Day 264,96 Tax 14 257 87 653 144 222 45 660 112 712 158 829 144 644 27 533 Avg. Trades pr Day 462,73 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 20 610 105 890 52 253 104 707 224 010 328 911 291 749 33 018 Key Figures 2006 (Preliminary figures) EPS 0,15 0,79 0,39 0,76 1,52 0,00 1,98 0,22 (Preliminary figures) Price Book 2,65 3,10 6,41 5,71 5,91 5,12 4,66 5,09 Operating result per Share -0,34 Long Term Fixed Assets 2 791 746 2 755 934 2 644 137 2 866 531 2 918 062 3 180 409 3 845 605 4 273 222 Operating result per Share 8,69 BVPS 12,34 Current Assets 2 023 118 2 355 064 2 859 451 3 080 192 3 007 492 3 215 816 3 343 175 3 143 013 BVPS 22,59 Gross Margin 1,00 Cash 490 667 415 488 353 041 0 432 905 1 311 204 915 680 541 598 Gross Margin 1,00 EBITDA Margin 0,20 Total Assets 5 305 531 5 526 486 5 856 629 5 946 723 6 358 458 7 707 429 8 104 459 7 957 832 EBITDA Margin 0,16 EBITDA 63 289 Total Equity 1 914 119 2 079 153 1 844 666 1 953 975 2 290 012 2 865 337 3 340 749 3 327 313 EBITDA 1 710 854 EBITA -25 358 Long term debt 636 271 641 649 438 267 348 588 549 639 1 482 470 1 563 164 1 523 461 EBITA 1 278 847 Net Margin -0,41 Short term debt 2 678 461 2 780 607 3 504 508 3 556 688 3 417 265 3 254 238 3 054 301 2 876 126 Net Margin 0,08 ROE -10,89 Total Liability and Equity 5 305 531 5 526 486 5 856 629 5 946 723 6 358 458 7 707 429 8 104 459 7 957 832 ROE 19,45 Net Interestbearing Debt 576 892 647 468 454 437 348 588 215 472 171 266 647 484 997 088 Chg Operating Activities 178 126 352 364 852 096 1 444 572 19 379 197 105 326 673 609 129 Chg Investing activities -45 292 -280 537 -355 914 -499 253 -246 179 -664 091 -1 237 558 -1 877 636 Chg Financing activities -198 812 -224 344 -773 154 -1 116 176 212 952 1 372 252 1 395 315 1 395 594 Chg Cash and Liquids -82 742 -174 015 -237 244 -170 856 5 666 904 281 479 838 139 161

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 63 Share Price 140.0 Company: TGS-NOPEC Geophysical Company ASA 120.0 100.0 Ticker: TGS 80.0 60.0 Company Presentation: TGS-NOPEC is a global provider of geoscience data 40.0 and associated products & services to the oil and gas industry. A2D 20.0 Technologies, a subsidiary, pioneered the delivery of well log data over web. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003078800 Revenue 261 050 399 702 492 924 647 577 620 439 570 946 677 093 869 147 Round Lot 100,00 Other Income -17 669 -47 810 -31 897 -55 487 -21 835 -55 847 -45 691 -74 918 Reg.Share Capital (mill) 26 601,38 Operating Costs 63 885 68 617 81 319 308 829 106 339 102 858 97 783 319 130 Number of Shares 106 405,53 EBITDA 179 496 283 274 379 708 283 261 492 264 412 242 533 619 475 099 Currency NOK Depreciation 90 062 143 124 182 096 6 598 164 604 129 675 187 241 12 004 Gics 10 EBIT 89 434 140 150 197 612 276 663 327 660 282 567 346 378 463 096 Listed From 30-10-97 Net Financials 308 1 822 2 533 3 282 -340 -3 072 14 916 -23 127 Par Value 0,25 Pre Tax Profit 89 742 141 973 200 145 279 946 327 320 279 495 361 294 439 968 Number of days traded 251 Tax 31 204 48 360 65 681 91 047 109 496 93 119 120 461 117 126 Avg. Trades pr Day 484,11 Minority Interests 0 0 0 0 0 0 0 0 Net Income 58 538 93 613 134 464 188 898 217 824 186 376 240 833 322 843 Key Figures 2006 EPS 0,57 0,91 1,30 1,81 2,08 1,77 2,28 3,05 (Preliminary figures) Price Book 2,93 2,54 3,75 3,72 4,45 4,73 3,97 4,60 Long Term Fixed Assets 253 616 251 390 279 732 268 934 1 416 133 1 392 823 1 532 072 1 581 245 Operating result per Share 3,40 Current Assets 1 353 697 1 510 434 1 655 806 1 966 118 509 117 779 513 797 619 956 117 BVPS 28,04 Cash 611 332 720 490 798 333 907 473 1 425 105 1 202 873 1 421 583 1 692 536 Gross Margin 0,98 Total Assets 2 218 646 2 482 314 2 733 871 3 142 525 3 350 354 3 375 210 3 751 273 4 229 899 EBITDA Margin 0,57 Total Equity 1 637 564 1 781 567 1 958 982 2 226 097 2 373 478 2 451 834 2 762 117 2 983 927 EBITDA 1 450 479 Long term debt 308 211 300 080 306 375 304 984 311 458 304 342 303 230 301 927 EBITA 1 420 391 Short term debt 190 787 284 520 303 274 412 139 484 637 397 179 415 683 712 906 Net Margin 0,38 Total Liability and Equity 2 218 646 2 482 314 2 733 871 3 142 525 3 350 361 3 375 209 3 751 287 4 229 899 ROE 21,84 Net Interestbearing Debt -302 666 -420 122 -491 958 -602 489 -1 113 647 -898 531 -1 118 353 -1 390 609 Chg Operating Activities 164 862 102 475 69 914 72 262 772 657 73 685 512 554 500 307 Chg Investing activities -5 705 -3 140 -33 681 7 533 -268 501 -222 751 -304 179 -146 072 Chg Financing activities 55 729 -13 108 41 177 -66 45 919 748 -44 830 -20 032 Chg Cash and Liquids 214 885 86 227 77 410 79 729 550 075 -148 318 163 545 334 204 Share Price Company: Teekay Petrojarl ASA 80.0 Ticker: TPO 60.0 40.0 Company Presentation: Teekay Petrojarl is one of the largest operators of 20.0 Floating Production Storage and Offloading (FPSO) vessels in the North Sea, in terms of production capacity and number of vessels. 0 Period Jul 06 Sep 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010309560 Revenue 390 920 469 944 474 007 Round Lot 100,00 Other Income 561 0 0 Reg.Share Capital (mill) 149 999,98 Operating Costs 304 312 309 783 418 222 Number of Shares 74 999,99 EBITDA 87 169 160 161 55 785 Currency NOK Depreciation 90 708 137 091 99 291 Gics 10 EBIT -3 539 23 070 -43 506 Listed From 30-06-06 Net Financials -30 057 14 834 -33 217 Par Value 2,00 Pre Tax Profit -33 596 37 904 -76 722 Number of days traded 128 Tax 0 0 0 Avg. Trades pr Day 123,69 Minority Interests 0 -32 -983 Net Income -33 596 37 935 -75 740 Key Figures 2006 EPS -0,45 0,97 -1,01 (Preliminary figures) Price Book 0,98 1,59 1,70 Long Term Fixed Assets 5 316 240 5 488 152 5 271 579 Operating result per Share 0,63 Current Assets 315 822 326 991 410 435 BVPS 41,55 Cash 279 847 466 569 373 623 Gross Margin 0,36 Total Assets 5 911 909 6 281 712 6 055 637 EBITDA Margin 0,25 Total Equity 3 141 900 3 316 311 3 123 741 EBITDA 447 731 Long term debt 2 770 009 2 469 913 2 103 390 EBITA 46 955 Short term debt 410 138 495 489 432 565 Net Margin -0,10 Total Liability and Equity 6 322 047 6 281 712 6 055 637 ROE -4,17 Net Interestbearing Debt 2 490 162 2 180 740 1 729 767 Chg Operating Activities 160 630 395 092 390 015 Chg Investing activities -218 078 -286 694 -371 377 Chg Financing activities 0 3 429 247 026 Chg Cash and Liquids -57 448 111 826 265 664

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 64 Company: Trefoil Limited Share Price 60.0 50.0 Ticker: TREF 40.0 30.0 Company Presentation: Trefoil Limited is focused on the acquisition, 20.0 exploitation and development of oil and gas properties in Argentina through 10.0 its 100% owned Argentine subsidiary Petrolera El Trébol S.A.. 0 Period Dec 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin BMG9027E1021 Revenue 35 024 46 153 46 232 53 244 79 844 Round Lot 200,00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 23 481,40 Operating Costs 39 745 38 685 46 370 54 806 70 255 Number of Shares 35 220,34 EBITDA -4 721 7 467 -137 -1 562 9 589 Currency USD Depreciation 0 0 0 0 0 Gics 10 EBIT -4 721 7 467 -137 -1 562 9 589 Listed From 20-12-05 Net Financials 2 075 3 377 2 941 1 676 -263 Par Value 0,67 Pre Tax Profit -2 646 10 844 2 804 114 9 325 Number of days traded 230 Tax 4 774 5 185 4 916 -6 667 7 309 Avg. Trades pr Day 10,86 Minority Interests 0 0 0 0 0 Net Income -7 420 5 659 -2 112 6 781 2 017 Key Figures 2006 EPS -0,21 0,16 -0,06 0,19 0,06 (Preliminary figures) Price Book 2,56 2,79 2,57 -2,71 2,85 Long Term Fixed Assets 208 354 256 829 295 946 336 202 703 011 Operating result per Share 0,43 Current Assets 44 443 48 329 109 579 112 180 134 478 BVPS 16,13 Cash 408 674 374 854 255 227 220 913 104 954 Gross Margin 0,31 Total Assets 661 471 680 012 660 752 669 295 942 443 EBITDA Margin 0,07 Total Equity 596 146 586 659 555 798 587 739 568 107 EBITDA 15 038 Long term debt 0 85 033 0 0 218 929 EBITA 15 038 Short term debt 51 273 0 79 747 56 136 112 229 Net Margin 0,05 Total Liability and Equity 661 471 680 012 660 752 669 295 942 443 ROE 1,21 Net Interestbearing Debt -408 674 -289 821 -255 227 220 913 118 190 Chg Operating Activities 34 460 29 763 1 433 5 503 49 029 Chg Investing activities -104 495 -52 653 -122 878 172 597 -553 819 Chg Financing activities 467 206 0 0 0 224 785 Chg Cash and Liquids 397 172 -22 889 -121 444 167 094 -280 005

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 65 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 66 Materials Global players in paper and fertiliser

The Material sector on Oslo Børs (using the GICS definition) comprises three main segments: fertiliser, pulp & paper and mining.

Martin Melbye | Analyst, ABG Sundal Collier

We focus on the two most important stocks, measured by market capitalisation and turnover; Yara International (57% of the sector market cap) and Norske Skog (29%). The mining stocks are Crew Gold Corporation, Crew Minerals, Northland Resources and International Gold Exploration. In addition, there is a selection of small caps included in the Material sector: Byggma and Fesil. During 2007, Hydro Aluminium and Hydro Polymers could become important additions to the sector.

Norske Skog is one of the world’s leading producers of publication paper, being newsprint and magazine paper (Norske Skog is predominantly a newsprint producer). The company has operations in Europe, South America, Asia and Australasia.

The most important earnings driver for Norske Skog is the global demand/supply balance for publication paper. This balance is mainly affected by swings in demand. Consumption of publication paper by publishers is driven by advertising activity. This activity is cyclical and follows the overall economic cycles. In addition, the consumption of publication paper is affected by the printed media’s market share in the total advertising market. Printed media has lost market share to both TV and internet in recent years, leading to a poor development in global paper consumption growth. However, the market for newsprint has remained reasonably tight thanks to capacity closures in North America and Europe, as well as high consumption growth in emerging markets.

Secondly, Norske Skog’s profitability is affected by swings in exchange rates. The depreciation of the USD has had a material negative impact on Norske Skog’s earnings capacity since 2002, as newsprint prices in most regions are linked to North American prices (Canadian producers are swing producers in the global market place and hence have an impact on prices in all markets). A weak USD thus means low prices in EUR, AUD and other curren- cies relevant to Norske Skog.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 68 Thirdly, the company’s profitability is affected by its capacity to source raw materials and energy at competitive prices. Although the company has implemented massive cost reductions in the past years, operating costs per tonne of output have increased, in particular due to the rise in energy costs.

Yara is the largest company in the sector in terms of market capitalisation. It was spun-off from Norsk Hydro after 100-years in operation, and listed on Oslo Børs in 2004. Yara is one of the global leaders in nitrogen fertiliser production.

Fertiliser is a cyclical business, but fertiliser demand follows the grain price cycle, rather than traditional economic cycles (as the farmer’s economy is dependent on grain prices). Grains are by far the most important end-market for fertilizers (~60%) followed by cash crops (20-25%). Grain prices boomed in 06 due to a tight market balance and a poor harvest. This boosts in turn fertiliser demand and prices. Furthermore, nitrogen fertiliser is a play on natural gas prices as natural gas accounts for as much as 70-90% of the cash costs. The gas markets are not global, but regional with huge price differences. During 2006 the mar- ginal producer of nitrogen fertiliser has toggled between Europe and US. Yara has benefited from having ~30% of its capacity in very low cost gas regions, especially advantageous in a high energy cost environment.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 69 Share Price 100 Company: Byggma ASA 80 Ticker: BMA 60 40 Company Presentation: BMA is a company manufacturing and selling building material products. The Group consists of 12 manufacturing plants 20 and 3 sales comp. in Norway, Sweden, Finland and UK. The company has appr. 0 Period 1.000 employees. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003087603 Revenue 195 900 209 400 185 300 202 300 278 200 358 200 385 900 460 600 Round Lot 100,00 Other Income 19 900 0 0 800 210 600 1 700 31 600 17 900 Reg.Share Capital (mill) 24 550,23 Operating Costs 188 000 198 200 169 400 192 300 268 200 348 900 343 600 422 500 Number of Shares 9 442,40 EBITDA 27 800 11 200 15 900 10 800 220 600 11 000 73 900 56 000 Currency NOK Depreciation 5 100 5 300 5 100 3 700 4 700 11 000 12 200 11 900 Gics 15 EBIT 22 700 5 900 10 800 7 100 215 900 0 61 700 44 100 Listed From 27-08-97 Net Financials -200 -800 -1 300 -800 -500 -2 700 -11 100 -2 000 Par Value 2,60 Pre Tax Profit 22 500 5 100 9 500 6 300 215 400 -2 700 50 600 42 100 Number of days traded 130 Tax 7 100 600 2 700 600 53 500 -700 14 800 12 600 Avg. Trades pr Day 3,88 Minority Interests 100 0 0 200 0 100 200 300 Net Income 15 300 4 500 6 800 5 500 161 900 -2 100 35 600 29 200 Key Figures 2006 EPS 1,63 0,48 0,72 0,58 17,15 -0,22 3,77 3,10 (Preliminary figures) Price Book 1,36 1,39 1,31 1,45 1,39 1,35 1,26 1,80 Long Term Fixed Assets 279 900 281 100 283 500 290 600 673 300 690 300 790 400 819 000 Operating result per Share 33,84 Current Assets 190 400 205 300 202 600 185 900 352 900 385 200 447 100 446 000 BVPS 46,19 Cash 15 500 13 100 14 700 16 500 17 100 17 100 17 700 31 200 Gross Margin 1,00 Total Assets 485 800 499 500 500 800 493 000 1 043 300 1 092 600 1 255 200 1 296 200 EBITDA Margin 0,21 Total Equity 216 600 206 900 214 100 222 200 383 000 371 700 408 000 438 800 EBITDA 359 100 Long term debt 39 600 38 300 36 900 34 400 213 100 203 900 200 900 241 000 EBITA 321 200 Short term debt 168 900 193 800 189 200 179 200 324 600 396 100 515 300 488 400 Net Margin 0,13 Total Liability and Equity 485 800 499 500 500 800 493 000 1 043 200 1 092 600 1 255 200 1 296 200 ROE 39,33 Net Interestbearing Debt 24 100 25 200 22 200 17 900 196 000 186 800 183 200 209 800 Chg Operating Activities -11 000 -9 200 4 500 30 900 -18 900 -24 700 -18 400 60 500 Chg Investing activities -26 300 -32 900 -40 500 -52 000 -67 600 -94 000 -162 500 -206 800 Chg Financing activities 40 200 42 800 38 100 25 000 36 600 37 400 58 500 116 500 Chg Cash and Liquids 2 900 700 2 100 3 900 -49 900 -81 300 -122 400 -29 800 Share Price Company: Crew Gold Corporation 16.0 Ticker: CRU 12.0 8.0 Company Presentation: Crew Gold Corporation is a gold and minerals 4.0 company with operations and projects in Africa, Asia and Greenland. Crew Gold Corporation is focused on gold and precious metals. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CA2265341057 Revenue 40 421 63 006 111 798 Round Lot 500,00 Other Income 0 0 0 Reg.Share Capital (mill) 0,00 Operating Costs 46 896 63 748 113 460 Number of Shares 348 854,10 EBITDA -6 475 -743 -1 662 Currency CAD Depreciation 6 637 6 995 9 229 Gics 15 EBIT -13 112 -7 738 -10 891 Listed From 21-01-00 Net Financials 18 230 6 564 -62 269 Par Value 0,00 Pre Tax Profit 9 034 -1 220 -73 440 Number of days traded 251 Tax 0 0 0 Avg. Trades pr Day 533,06 Minority Interests 0 0 0 Net Income 9 034 -1 220 -73 440 Key Figures 2006 EPS 0,04 -0,01 -0,23 (Preliminary figures) Price Book 1,84 1,71 2,32 Long Term Fixed Assets 562 388 3 954 390 4 074 344 Operating result per Share -0,41 Current Assets 68 788 189 178 144 394 BVPS 5,48 Cash 339 781 364 813 996 465 Gross Margin 0,26 Total Assets 970 958 4 508 381 5 215 203 EBITDA Margin -0,21 Total Equity 690 820 1 765 358 2 045 051 EBITDA -52 152 Long term debt 213 861 1 381 877 2 869 259 EBITA -115 664 Short term debt 66 276 215 705 293 612 Net Margin -0,94 Total Liability and Equity 970 958 4 508 381 5 215 196 ROE -11,39 Net Interestbearing Debt -125 920 1 017 065 2 166 406 Chg Operating Activities 0 0 0 Chg Investing activities 0 0 0 Chg Financing activities 0 0 0 Chg Cash and Liquids 0 0 0

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 70 Company: Fesil ASA Share Price 70,0 60,0 Ticker: FSL 50,0 40,0 Company Presentation: The FESIL Group is among the world’s largest 30,0 producers of Ferro Silicon (FeSi) and Silicon Metal (SiMet). 20,0 10,0 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003046906 Revenue 352 100 698 700 588 700 608 500 600 100 566 300 775 000 616 500 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 90 441,56 Operating Costs 320 700 656 000 579 200 610 400 590 400 546 200 764 700 563 700 Number of Shares 9 044,16 EBITDA 31 400 42 700 9 500 -1 900 9 700 20 100 10 300 52 800 Currency NOK Depreciation 12 700 13 900 13 800 14 100 13 500 13 500 12 300 12 600 Gics 15 EBIT 18 700 28 800 -4 300 -16 000 -3 800 6 600 -2 000 40 200 Listed From 21-06-95 Net Financials 5 300 -5 300 3 200 -6 400 -2 000 100 -9 200 -6 900 Par Value 10,00 Pre Tax Profit 24 000 23 500 -1 100 -22 400 -5 800 6 700 -11 200 33 300 Number of days traded 37 Tax 1 900 8 200 -200 1 800 -1 900 1 800 -2 400 9 400 Avg. Trades pr Day 1,89 Minority Interests 0 2 300 0 500 900 0 1 200 1 200 Net Income 22 100 13 000 -900 -24 700 -4 800 4 900 -10 000 22 700 Key Figures 2006 EPS 2,91 1,75 -0,11 -3,33 -0,65 0,61 0,00 2,68 (Preliminary figures) Price Book 0,82 0,68 0,54 0,65 0,57 0,55 0,55 0,45 Long Term Fixed Assets 532 800 533 100 535 700 543 400 544 100 552 300 543 800 534 600 Operating result per Share 5,21 Current Assets 996 900 1 016 900 1 021 500 853 000 846 800 933 800 945 100 971 700 BVPS 57,96 Cash 66 500 12 600 4 800 0 15 900 6 200 7 900 5 100 Gross Margin 0,17 Total Assets 1 596 200 1 562 600 1 562 000 1 396 400 1 406 800 1 492 300 1 496 800 1 511 400 EBITDA Margin 0,04 Total Equity 581 700 547 000 547 200 522 800 518 900 527 700 550 100 565 200 EBITDA 92 800 Long term debt 269 100 341 400 395 600 397 200 363 400 309 100 284 100 282 600 EBITA 40 900 Short term debt 682 700 616 600 561 200 418 700 466 400 590 000 594 800 587 400 Net Margin 0,00 Total Liability and Equity 1 596 200 1 562 600 1 562 000 1 396 500 1 406 800 1 492 300 1 496 900 1 511 400 ROE 1,77 Net Interestbearing Debt 202 600 328 800 390 800 397 200 347 500 302 900 276 200 277 500 Chg Operating Activities -19 800 -47 100 -63 200 140 200 17 900 12 800 -57 700 28 000 Chg Investing activities -26 900 -37 500 -11 700 -12 800 -4 800 -13 900 4 600 -2 300 Chg Financing activities 98 300 111 700 64 600 -123 100 -4 100 -8 600 0 -28 500 Chg Cash and Liquids 51 600 27 100 -10 100 4 300 9 000 -9 700 -53 100 -2 800

Company: Int. Gold Exploration IGE AB Share Price 6.0 5.0 Ticker: IGE 4.0 3.0 Company Presentation: IGE is a Swedish mining and exploration company 2.0 engaged in the mining of gold and other minerals. The shares have been 1.0 listed on the Oslo Stock Exchange SMB list since 1997 and the Swedish 0 Period NGM-list since 2005. Dec 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin SE0000378119 Revenue 0 65 170 14 0 0 0 0 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 13 093,57 Operating Costs 1 379 1 841 12 567 4 118 4 579 9 388 7 298 10 912 Number of Shares 261 871,44 EBITDA -1 379 -1 776 -12 397 -4 104 -4 579 -9 388 -7 298 -10 912 Currency SEK Depreciation 2 4 57 1 019 81 114 121 827 Gics 15 EBIT -1 381 -1 781 -12 454 -5 122 -4 660 -9 502 -7 418 -11 739 Listed From 21-11-97 Net Financials -15 0 2 1 101 2 215 -1 126 280 185 Par Value 0,05 Pre Tax Profit -1 397 -1 781 -12 452 -4 022 -2 446 -10 628 -7 138 -11 554 Number of days traded 251 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 1 136,96 Minority Interests 0 0 0 0 0 0 0 0 Net Income -1 397 -1 781 -12 452 -4 022 -2 446 -10 628 -7 138 -11 554 Key Figures 2006 EPS -0,01 -0,01 -0,04 -0,01 -0,01 -0,03 -0,02 -0,04 (Preliminary figures) Price Book 1,10 1,96 4,19 5,10 7,02 11,92 15,82 6,02 Long Term Fixed Assets 89 663 85 155 79 345 40 600 44 521 50 538 57 280 61 451 Operating result per Share -0,08 Current Assets 987 1 224 2 500 24 012 23 665 18 425 25 578 17 619 BVPS 0,76 Cash 1 716 25 292 17 544 46 613 37 812 30 371 11 929 124 537 Gross Margin 0,00 Total Assets 92 366 111 671 99 390 111 225 105 998 99 333 94 787 203 608 EBITDA Margin 0,00 Total Equity 89 314 108 444 95 984 102 790 99 838 91 855 87 444 198 740 EBITDA -24 463 Long term debt 0 0 0 0 0 0 0 0 EBITA -25 578 Short term debt 1 033 3 227 3 405 8 434 6 160 7 478 7 342 4 868 Net Margin 0,00 Total Liability and Equity 92 366 111 671 99 390 111 225 105 998 99 333 94 787 203 608 ROE -12,22 Net Interestbearing Debt -1 716 -25 292 -17 544 -46 613 -37 812 -30 371 -11 929 -124 537 Chg Operating Activities -3 181 -3 672 -26 202 -39 785 -4 294 -6 776 -20 961 -26 133 Chg Investing activities -1 093 -2 365 -6 099 26 081 -4 340 -9 542 -15 122 -19 178 Chg Financing activities 1 552 28 727 46 124 54 926 0 0 0 119 482 Chg Cash and Liquids -2 723 22 691 13 823 41 222 -8 635 -16 317 -36 083 74 171

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 71 Company: Northland Resources Inc Share Price 7,90 7,70 Ticker: NAUR 7,50 7,30 Company Presentation: Northland Resources Inc. is a well financed Vancouver based mineral company exploring and developing quality iron and gold projects 7,10 in northern Sweden and Finland. 6,90 Period Oct 06 Nov 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin CA6665271061 Revenue 0 0 Round Lot 1 000,00 Other Income 0 0Reg.Share Capital (mill) 0,00 Operating Costs 2 994 3 576 Number of Shares 16 429,90 EBITDA -3 195 -4 630 Currency CAD Depreciation 29 58 Gics 15 EBIT -3 223 -4 687 Listed From 23-10-06 Net Financials 57 461 Par Value 0,00 Pre Tax Profit -3 166 -4 227 Number of days traded 47 Tax 0 0Avg. Trades pr Day 11,79 Minority Interests 0 0 Net Income -3 166 -4 227 Key Figures 2006 EPS -0,10 -0,07 (Preliminary figures) Price Book 0,00 1,63 Long Term Fixed Assets 36 158 107 640 Operating result per Share Current Assets 1 530 2 517 BVPS Cash 22 186 291 479 Gross Margin Total Assets 59 874 401 637 EBITDA Margin Total Equity 56 132 378 718 EBITDA Long term debt 0 0EBITA Short term debt 3 747 6 622 Net Margin Total Liability and Equity 59 879 401 631 ROE Net Interestbearing Debt -22 186 -291 479 Chg Operating Activities -1 067 -328 Chg Investing activities -5 185 -12 346 Chg Financing activities 13 960 177 177 Chg Cash and Liquids 7 708 164 503

Company: Norske Skogindustrier ASA Share Price 140.0 120.0 Ticker: NSG 100.0 80.0 60.0 Company Presentation: Norske Skog is one of the world’s biggest producer 40.0 of publication paper, with 19 paper mills in 14 countries and a production 20.0 capacity of around 6.5 million tonnes per year. This corresponds to around 11 % of total production of newsprint world-wide, and around 5 % of total 0 Period production of magazine paper. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004135633 Revenue 5 761 000 6 433 000 6 425 000 7 107 000 7 144 000 6 772 000 7 192 000 7 719 000 Round Lot 100,00 Other Income 0 0 0 0 5 000 0 0 14 000 Reg.Share Capital (mill) 1 899 456,26 Operating Costs 4 745 000 5 371 000 5 366 000 6 294 000 6 110 000 5 940 000 6 576 000 6 437 000 Number of Shares 189 945,63 EBITDA 1 016 000 1 062 000 1 059 000 813 000 1 039 000 832 000 616 000 1 296 000 Currency NOK Depreciation 767 000 806 000 740 000 1 007 000 867 000 846 000 4 092 000 729 000 Gics 15 EBIT 249 000 256 000 319 000 -194 000 172 000 -14 000 -3 476 000 567 000 Listed From 16-05-90 Net Financials -334 000 -225 000 -142 000 -933 000 22 000 -199 000 -527 000 -249 000 Par Value 10,00 Pre Tax Profit -85 000 31 000 177 000 -1 127 000 194 000 -213 000 -4 003 000 318 000 Number of days traded 251 Tax -47 000 36 000 -18 000 -127 000 -12 000 -22 000 -600 000 109 000 Avg. Trades pr Day 547,30 Minority Interests 4 000 3 000 2 000 -3 000 -7 000 -11 000 -154 000 -36 000 Net Income -42 000 -8 000 193 000 -997 000 213 000 -180 000 -3 249 000 245 000 Key Figures 2006 EPS -0,29 -0,05 1,32 -5,56 1,13 -0,95 -17,16 1,29 (Preliminary figures) Price Book 0,86 0,76 0,68 0,92 0,98 0,86 1,06 1,13 Long Term Fixed Assets 37 821 000 37 836 000 37 414 000 43 383 000 40 741 000 39 594 000 37 358 000 37 653 000 Operating result per Share -13,35 Current Assets 7 015 000 7 482 000 7 329 000 8 242 000 8 213 000 7 160 000 7 237 000 7 220 000 BVPS 95,29 Cash 385 000 369 000 225 000 408 000 399 000 705 000 669 000 357 000 Gross Margin 1,00 Total Assets 45 221 000 45 687 000 44 968 000 52 033 000 49 353 000 47 459 000 45 264 000 45 230 000 EBITDA Margin 0,14 Total Equity 19 709 000 18 955 000 19 166 000 22 804 000 22 251 000 20 702 000 18 009 000 18 550 000 EBITDA 4 007 000 Long term debt 17 000 000 17 953 000 17 543 000 19 181 000 18 012 000 17 681 000 17 658 000 15 031 000 EBITA -2 527 000 Short term debt 5 064 000 5 364 000 4 904 000 6 025 000 5 252 000 5 330 000 5 991 000 7 559 000 Net Margin -0,10 Total Liability and Equity 45 221 000 45 687 000 44 968 000 52 033 000 49 353 000 47 459 000 45 264 000 45 230 000 ROE -8,61 Net Interestbearing Debt 17 648 000 18 586 000 17 996 000 19 704 000 18 478 000 17 915 000 16 989 000 18 081 000 Chg Operating Activities 524 000 1 111 000 923 000 1 027 000 251 000 574 000 1 265 000 673 000 Chg Investing activities -450 000 -1 013 000 -397 000 -4 604 000 880 000 -461 000 -330 000 -587 000 Chg Financing activities -137 000 -189 000 -605 000 3 737 000 -936 000 -345 000 -1 084 000 -315 000 Chg Cash and Liquids -50 000 -74 000 -79 000 167 000 199 000 -243 000 -137 000 -235 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 72 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 73 Share Price Company: Polimoon ASA 40.0 Ticker: POLI 30.0 20.0 Company Presentation: Polimoon holds a leading position within manufacturing, developing and selling of plastic packaging and components. 10.0 Polimoon has 27 operations and 2740 employees in thirteen European 0 Period countries. Apr 05 Feb 06 Dec 06

2005 2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010263916 Revenue 632 400 672 000 568 000 216 000 281 000 315 000 771 000 Round Lot 200,00 Other Income 0 0 0 0 0 1 000 0 Reg.Share Capital (mill) 38 604,65 Operating Costs 565 900 604 000 510 000 176 000 201 000 226 000 683 000 Number of Shares 38 604,65 EBITDA 66 500 68 000 58 000 40 000 80 000 90 000 88 000 Currency NOK Depreciation 32 700 33 000 33 000 33 000 38 000 34 000 42 000 Gics 15 EBIT 33 800 35 000 25 000 7 000 42 000 56 000 46 000 Listed From 26-04-05 Net Financials -10 700 -5 000 -9 000 -17 000 -15 000 -14 000 -21 000 Par Value 1,00 Pre Tax Profit 23 100 30 000 16 000 -10 000 27 000 42 000 26 000 Number of days traded 224 Tax 3 600 3 000 3 000 -2 000 5 000 8 000 5 000 Avg. Trades pr Day 11,84 Minority Interests 2 400 1 000 0 0 1 000 1 000 2 000 Net Income 17 100 26 000 13 000 -8 000 21 000 33 000 19 000 Key Figures 2006 EPS 0,40 0,70 0,34 -0,21 0,54 0,86 0,50 (Preliminary figures) Price Book 0,00 2,52 2,03 1,91 2,31 1,85 2,01 Long Term Fixed Assets 815 000 799 000 789 000 888 000 1 117 000 1 136 000 1 297 000 Operating result per Share Current Assets 759 000 747 000 705 000 735 000 1 040 000 1 035 000 988 000 BVPS Cash 69 000 33 000 57 000 98 000 56 000 150 000 167 000 Gross Margin Total Assets 1 643 000 1 579 000 1 551 000 1 721 000 2 213 000 2 321 000 2 452 000 EBITDA Margin Total Equity -51 000 330 000 342 000 343 000 367 000 402 000 427 000 EBITDA Long term debt 1 052 000 596 000 589 000 718 000 984 000 997 000 1 136 000 EBITA Short term debt 533 000 544 000 515 000 615 000 800 000 820 000 784 000 Net Margin Total Liability and Equity 1 643 000 1 579 000 1 551 000 1 721 000 2 213 000 2 320 000 2 452 000 ROE Net Interestbearing Debt 983 000 604 000 581 000 679 000 1 026 000 950 000 1 085 000 Chg Operating Activities -35 000 50 000 65 000 109 000 -7 000 114 000 68 000 Chg Investing activities -43 000 -39 000 -33 000 -119 000 -241 000 -66 000 -144 000 Chg Financing activities -1 000 -51 000 -7 000 51 000 207 000 47 000 93 000 Chg Cash and Liquids -79 000 -40 000 24 000 41 000 -41 000 95 000 17 000

Company: Yara International ASA Share Price 160,0 Ticker: YAR 120,0 80,0 Company Presentation: Yara International ASA is the world`s leading supplier of mineral fertilizers selling more than 20 million tonnes of 40,0 fertilizers in more than 120 countries. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010208051 Revenue 10 943 000 12 172 000 11 005 000 12 251 000 11 698 000 11 838 000 11 087 000 12 345 000 Round Lot 100,00 Other Income 0 0 0 180 000 37 000 361 000 811 000 83 000 Reg.Share Capital (mill) 515 065,06 Operating Costs 9 336 000 10 723 000 9 896 000 11 428 000 10 644 000 10 909 000 10 427 000 11 556 000 Number of Shares 302 979,44 EBITDA 1 607 000 1 449 000 1 109 000 1 003 000 1 091 000 1 290 000 1 471 000 872 000 Currency NOK Depreciation 336 000 333 000 327 000 353 000 334 000 367 000 321 000 351 000 Gics 15 EBIT 1 271 000 1 116 000 782 000 650 000 757 000 923 000 1 150 000 521 000 Listed From 25-03-04 Net Financials -47 000 8 000 301 000 141 000 377 000 481 000 305 000 528 000 Par Value 1,70 Pre Tax Profit 1 224 000 1 124 000 1 083 000 791 000 1 134 000 1 404 000 1 455 000 1 049 000 Number of days traded 251 Tax 307 000 271 000 240 000 196 000 278 000 351 000 63 000 141 000 Avg. Trades pr Day 665,32 Minority Interests 0 7 000 -2 000 6 000 4 000 12 000 -11 000 17 000 Net Income 917 000 846 000 845 000 589 000 852 000 1 041 000 1 403 000 891 000 Key Figures 2006 EPS 2,90 2,68 2,69 1,90 2,77 3,39 4,62 2,97 (Preliminary figures) Price Book 2,50 2,66 2,86 2,34 2,38 1,97 2,10 2,78 Long Term Fixed Assets 12 276 000 13 243 000 13 517 000 14 041 000 13 475 000 13 640 000 15 499 000 16 764 000 Operating result per Share 10,85 Current Assets 14 545 000 13 888 000 14 743 000 15 469 000 14 691 000 14 959 000 15 688 000 15 496 000 BVPS 51,02 Cash 1 660 000 1 150 000 867 000 1 107 000 557 000 755 000 1 201 000 1 003 000 Gross Margin 0,20 Total Assets 28 481 000 28 281 000 29 127 000 30 617 000 28 723 000 29 354 000 32 388 000 33 263 000 EBITDA Margin 0,10 Total Equity 12 344 000 12 561 000 13 043 000 13 296 000 13 838 000 13 340 000 15 402 000 16 034 000 EBITDA 4 725 000 Long term debt 5 338 000 4 824 000 4 861 000 5 600 000 3 896 000 3 345 000 4 360 000 4 732 000 EBITA 3 352 000 Short term debt 7 550 000 7 504 000 7 763 000 8 431 000 7 363 000 8 959 000 8 597 000 8 457 000 Net Margin 0,09 Total Liability and Equity 28 481 000 28 281 000 29 127 000 30 617 000 28 723 000 29 354 000 31 619 000 33 263 000 ROE 16,85 Net Interestbearing Debt 4 400 000 4 382 000 4 782 000 4 493 000 4 313 000 4 537 000 4 248 000 5 349 000 Chg Operating Activities 344 000 2 161 000 2 392 000 3 106 000 1 081 000 1 927 000 3 230 000 3 854 000 Chg Investing activities -257 000 -1 166 000 -1 357 000 -2 044 000 -92 000 -687 000 -541 000 -1 759 000 Chg Financing activities 256 000 -1 151 000 -1 476 000 -1 284 000 -1 542 000 -1 620 000 -2 675 000 -2 317 000 Chg Cash and Liquids 398 000 -100 000 -375 000 -122 000 -549 000 -353 000 93 000 -104 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 74 Industrials Shipping, Industry and Airlines

A major challenge for Norwegian industrial companies is to be cost competitive versus their international peers.

Glenn Lodden Analyst and Terje Mauer Analyst DNB NOR Markets

The industrial companies as defined by GICS on the Oslo Børs are very little homogenous and consists of companies with unfamiliar businesses, such as shipbuilding (Aker Yards), oil services and defense & aerospace (Kongsberg), farming and vineyard equipment (Kverneland), Nordic construction business (Veidekke and AF Gruppen) and Norwegian housing business (Block Watne Gruppen). However, trying to find some common drivers, obviously economic growth is important, but sector specific competitive environment is of even greater importance. All the companies have achieved leading positions globally in one or several of the niches they operate. The companies mostly target niches with complex technology where they are able to achieve technological advantages. A major challenge for the Norwegian companies is to be cost competitive versus international peers. As a result the companies are continuously searching for opportunities to reduce production costs by transferring their production, or source from sub-suppliers, in low cost areas like Eastern Europe, Asia and South America.

Shipping on the Oslo Stock Exchange The Oslo Stock Exchange (OSE) has long traditions towards offering investment opportunities towards the shipping sector. Currently, virtually every shipping sector but container shipping, is represented on OSE. Shipping as a sector, is often divided into different sub- sectors, due to the unique drivers in each sub-sector. While crude oil tanker companies is mostly reliant on movements in the production of oil in different parts of the world, while dry bulk companies will benefit from (for instance) increased steel production in China or/and increased demand for coal. Gas tankers on the other hand will often rely heavily on Saudi LPG production, and the price of LPG compared to homogeneous substitutes in other parts of the world. The chemical tanker market and product tanker market can often be viewed in tandem, as parts of the fleets can carry each others type of cargo. Expected production increases and locations of the production increases of chemicals and petroleum products

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 76 should be clarified upon investing in this sub sector. A shipping sector not seen on many stock exchanges around the world, is the reefer sector, trading mainly in fruit, fish and other perishables. The strength of this market is often subject to weather conditions in Central America and seasonal demand of fruit in Europe.

Fleet Growth A very much fundamental element of marine transportation is the orderbook of the different shipping sectors. The cyclical nature of shipping is usually due to significant newbuilding activity following an upturn in the market. A solid appetite for new vessels during good times is therefor common in shipping, and also the case nowadays. Having experienced super profits over the last few years, most shipping sectors are now facing an orderbook that is expected to put pressure on earnings in most segments over the next few years. The exception in this case is the dry bulk and reefer sector which experienced an upturn in earnings much later than the other shipping sectors, and thus had to stand at the back of the line when ordering ships.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 77 Share Price Company: AF Gruppen ASA 120,0 100,0 Ticker: AFG 80,0 60,0 Company Presentation: AF Gruppen is a leading Norwegian construction 40,0 company with approximately 1 800 employees. The company’s operations 20,0 are divided into three business areas: Construction, Services and Property 0 Period Development. Jan 05 Dec 04 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003078107 Isin NO0003097503 Revenue 849 952 1 008 904 1 000 455 1 273 618 1 335 148 2 649 616 1 204 098 1 340 479 Round Lot 100,00 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 3 442,47 Reg.Share Capital (mill) 17 222,87 Operating Costs 809 499 956 871 958 993 1 225 334 1 277 919 2 522 243 1 135 260 1 272 593 Number of Shares 13 769,89 Number of Shares 17 222,87 EBITDA 40 453 52 033 41 462 48 284 57 229 127 373 68 838 67 886 Currency NOK Currency NOK Depreciation 12 956 14 265 16 454 20 247 17 275 33 837 19 709 18 717 Gics 20 Gics 20 EBIT 27 497 37 768 25 008 28 037 39 954 93 536 49 129 49 169 Listed From 08-09-97 Listed From 10-11-06 Net Financials -1 811 -1 173 4 631 6 082 373 -5 766 -1 495 836 Par Value 0,25 Par Value 1,00 Pre Tax Profit 25 686 36 595 29 639 34 119 40 327 87 770 47 634 50 005 Number of days traded 190 Number of days traded 31 Tax 7 260 0 0 12 975 11 432 25 135 13 338 13 039 Avg. Trades pr Day 5,34 Avg. Trades pr Day 12,87 Minority Interests 0 0 0 0 0 0 0 0 Net Income 18 426 36 595 29 639 21 144 28 895 62 635 34 296 36 966 Key Figures 2006 Key Figures 2006 EPS 1,38 2,73 2,21 1,58 2,10 4,56 2,49 2,69 (Preliminary figures) (Preliminary figures) Price Book 2,11 2,44 2,87 2,74 2,98 2,97 3,07 2,96 Long Term Fixed Assets 323 859 347 653 693 964 423 205 390 845 435 390 440 894 504 405 Operating result per Share 13,94 Operating result per Share 2,03 Current Assets 1 007 840 929 621 668 098 1 224 639 1 324 923 1 449 045 1 464 372 1 480 746 BVPS 38,13 BVPS 17,47 Cash 398 239 324 866 361 503 251 848 282 494 158 266 198 263 150 078 Gross Margin 0,83 Gross Margin 1,00 Total Assets 1 729 938 1 602 140 1 723 565 1 899 692 1 998 262 2 042 701 2 103 529 2 135 229 EBITDA Margin 0,05 EBITDA Margin 0,13 Total Equity 410 758 366 582 385 645 432 689 459 734 451 524 489 317 525 010 EBITDA 264 097 EBITDA 44 784 Long term debt 212 865 193 612 243 018 243 329 188 584 202 586 203 721 225 735 EBITA 191 834 EBITA 34 902 Short term debt 1 099 999 1 035 630 1 088 586 1 217 153 1 322 202 1 366 606 1 374 853 1 348 542 Net Margin 0,03 Net Margin 0,09 Total Liability and Equity 1 729 938 1 602 140 1 723 565 1 899 692 1 998 262 2 042 701 2 103 529 2 135 229 ROE 16,26 ROE 6,20 Net Interestbearing Debt -60 433 -92 166 -55 933 -8 519 -93 910 195 085 108 537 156 756 Chg Operating Activities -38 629 106 958 148 654 27 709 18 068 28 853 141 796 177 150 Chg Investing activities -19 890 -66 794 -146 752 -189 251 -28 435 -90 611 -114 931 -180 484 Chg Financing activities 5 533 -166 523 -91 624 -37 835 92 371 19 534 -29 092 -47 078 Chg Cash and Liquids - 52 986 -126 359 -89 722 -199 377 82 004 -42 224 -2 227 -50 412 Share Price Company: Aker American Shipping ASA 120,0

Ticker: AKASA 80,0

Company Presentation: Aker American Shipping ASA, through wholly 40,0 owned U.S. subsidiaries, will build, own and bareboat charter out vessels for operation in the U.S. Jones Act market. 0 Period Jul 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010272065 Isin NO0010222995 Revenue 385 576 188 048 161 791 125 458 90 970 21 507 0 Round Lot 100,00 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 276 000,00 Reg.Share Capital (mill) 454 428,34 Operating Costs 344 653 149 275 120 017 106 773 89 723 20 242 -12 845 Number of Shares 27 600,00 Number of Shares 22 721,42 EBITDA 40 924 38 773 41 774 18 685 1 246 1 265 12 845 Currency NOK Currency NOK Depreciation 9 591 9 693 11 272 11 345 1 869 -4 428 -4 496 Gics 20 Gics 20 EBIT 31 332 29 080 30 502 7 341 -623 5 693 17 341 Listed From 11-07-05 Listed From 01-06-04 Net Financials 5 755 -2 585 21 219 18 018 6 854 11 386 10 918 Par Value 10,00 Par Value 20,00 Pre Tax Profit 37 087 26 495 51 720 25 359 6 231 17 079 28 259 Number of days traded 214 Number of days traded 251 Tax 1 279 1 939 9 946 8 675 0 0 0 Avg. Trades pr Day 10,68 Avg. Trades pr Day 271,37 Minority Interests 0 0 0 0 0 0 0 Net Income 35 808 24 556 41 774 16 683 6 231 17 079 28 259 Key Figures 2006 Key Figures 2006 EPS 1,28 0,89 1,51 0,60 0,23 0,62 1,02 (Preliminary figures) (Preliminary figures) Price Book 0,00 1,79 1,85 2,67 2,63 2,18 2,42 Long Term Fixed Assets 564 928 925 594 1 041 703 1 250 675 1 390 807 1 812 209 2 152 380 Operating result per Share 1,03 Operating result per Share 56,03 Current Assets 1 321 003 642 356 885 346 944 589 981 930 126 191 139 489 BVPS 43,44 BVPS 267,68 Cash 13 747 376 779 173 279 181 019 19 351 236 771 65 679 Gross Margin 0,28 Gross Margin 0,31 Total Assets 1 899 678 1 944 728 2 100 328 2 376 283 2 392 088 2 175 172 2 357 547 EBITDA Margin 0,14 EBITDA Margin 0,07 Total Equity 1 173 716 1 197 712 1 226 488 1 208 547 1 152 347 1 217 680 1 198 477 EBITDA 32 950 EBITDA 1 714 000 Long term debt 135 504 132 134 133 343 126 384 117 357 119 036 111 341 EBITA 28 291 EBITA 1 246 000 Short term debt 590 458 477 515 669 424 969 602 1 054 966 767 555 1 005 820 Net Margin 0,28 Net Margin 0,04 Total Liability and Equity 1 899 678 1 944 728 2 100 328 2 376 283 2 392 712 2 175 172 2 357 547 ROE 3,22 ROE 10,78 Net Interestbearing Debt 530 234 75 225 -39 935 -54 635 110 490 493 707 45 662 Chg Operating Activities 614 493 -171 246 -143 225 -87 421 -47 977 860 931 26 974 Chg Investing activities -5 755 -143 459 -204 892 -230 897 -267 301 -314 388 -402 044 Chg Financing activities -852 361 670 122 135 931 330 329 163 247 -335 896 208 729 Chg Cash and Liquids -243 623 355 417 -212 186 12 012 -152 031 210 647 -166 341

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 78 Company: AKVA Group ASA Share Price 35,0 Ticker: AKVA 34,5 Company Presentation: AKVA group is the leading provider of technology to the fish farming industry and the only with global distribution. The products 34,0 consist of software, sensor systems, feed systems and cage systems. Period Nov 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003078107 (All figures are in NOK ‘ 000) Isin NO0003097503 Round Lot 100,00 Revenue 81 225 151 623 Round Lot 200,00 Reg.Share Capital (mill) 3 442,47 Other Income 0 0Reg.Share Capital (mill) 17 222,87 Number of Shares 13 769,89 Operating Costs 70 193 137 078 Number of Shares 17 222,87 Currency NOK EBITDA 11 032 14 545 Currency NOK Gics 20 Depreciation 2 554 3 670 Gics 20 Listed From 08-09-97 EBIT 8 478 10 875 Listed From 10-11-06 Par Value 0,25 Net Financials -34 356 Par Value 1,00 Number of days traded 190 Pre Tax Profit 8 444 11 231 Number of days traded 31 Avg. Trades pr Day 5,34 Tax 2 448 -4 847 Avg. Trades pr Day 12,87 Minority Interests 0 0 Key Figures 2006 Net Income 5 996 16 078 Key Figures 2006 (Preliminary figures) EPS 0,44 0,09 (Preliminary figures) Price Book 0,00 1,99 Operating result per Share 13,94 Long Term Fixed Assets 165 476 177 998 Operating result per Share 2,03 BVPS 38,13 Current Assets 215 101 210 361 BVPS 17,47 Gross Margin 0,83 Cash 19 338 141 463 Gross Margin 1,00 EBITDA Margin 0,05 Total Assets 399 915 529 822 EBITDA Margin 0,13 EBITDA 264 097 Total Equity 167 817 300 817 EBITDA 44 784 EBITA 191 834 Long term debt 29 873 26 654 EBITA 34 902 Net Margin 0,03 Short term debt 183 925 182 384 Net Margin 0,09 ROE 16,26 Total Liability and Equity 399 915 529 822 ROE 6,20 Net Interestbearing Debt 45 007 -84 744 Chg Operating Activities -26 508 15 948 Chg Investing activities -17 586 -3 122 Chg Financing activities 52 054 109 300 Chg Cash and Liquids 7 960 122 126 Share Price Company: Aker Yards ASA 600,0

Ticker: AKY 400,0

Company Presentation: Aker Yards is an international shipbuilding group 200,0 focusing on complex and sophisticated vessels and is by far Europe`s largest and one of the world`s five largest shipbuilders. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010272065 (All figures are in NOK ‘ 000) Isin NO0010222995 Round Lot 100,00 Revenue 3 439 000 4 053 000 4 219 000 4 896 000 5 397 000 6 144 000 6 505 000 7 815 000 Round Lot 100,00 Reg.Share Capital (mill) 276 000,00 Other Income 0 0 0 0 0 5 000 0 1 000 Reg.Share Capital (mill) 454 428,34 Number of Shares 27 600,00 Operating Costs 3 280 000 3 812 000 3 937 000 4 553 000 5 040 000 5 767 000 6 202 000 7 415 000 Number of Shares 22 721,42 Currency NOK EBITDA 159 000 241 000 282 000 343 000 357 000 382 000 303 000 401 000 Currency NOK Gics 20 Depreciation 68 000 72 000 70 000 138 000 67 000 79 000 103 000 137 000 Gics 20 Listed From 11-07-05 EBIT 91 000 169 000 212 000 205 000 290 000 303 000 200 000 264 000 Listed From 01-06-04 Par Value 10,00 Net Financials 3 000 34 000 3 000 -13 000 17 000 -16 000 -26 000 6 000 Par Value 20,00 Number of days traded 214 Pre Tax Profit 94 000 203 000 215 000 192 000 307 000 287 000 174 000 458 000 Number of days traded 251 Avg. Trades pr Day 10,68 Tax 28 000 47 000 44 000 -193 000 86 000 68 000 64 000 -28 000 Avg. Trades pr Day 271,37 Minority Interests -2 000 4 000 -1 000 4 000 5 000 8 000 -10 000 -2 000 Key Figures 2006 Net Income 68 000 152 000 172 000 381 000 216 000 211 000 120 000 488 000 Key Figures 2006 (Preliminary figures) EPS 3,30 7,38 8,35 18,49 10,40 9,29 5,28 21,48 (Preliminary figures) Price Book 0,95 1,14 1,54 1,33 2,17 1,87 2,02 1,80 Operating result per Share 1,03 Long Term Fixed Assets 4 237 000 4 280 000 4 340 000 4 359 000 4 426 000 5 022 000 5 413 000 6 190 000 Operating result per Share 56,03 BVPS 43,44 Current Assets 5 647 000 6 919 000 6 968 000 10 051 000 12 000 000 9 965 000 11 463 000 16 083 000 BVPS 267,68 Gross Margin 0,28 Cash 2 968 000 2 050 000 2 228 000 3 914 000 2 339 000 4 429 000 5 568 000 6 247 000 Gross Margin 0,31 EBITDA Margin 0,14 Total Assets 12 852 000 13 249 000 13 536 000 18 324 000 18 765 000 19 416 000 22 444 000 28 520 000 EBITDA Margin 0,07 EBITDA 32 950 Total Equity 4 584 000 4 605 000 4 726 000 5 087 000 5 199 000 5 385 000 5 678 000 6 146 000 EBITDA 1 714 000 EBITA 28 291 Long term debt 1 425 000 1 226 000 1 317 000 2 408 000 2 009 000 3 409 000 3 750 000 3 542 000 EBITA 1 246 000 Net Margin 0,28 Short term debt 6 349 000 6 893 000 6 933 000 10 689 000 11 182 000 10 174 000 12 423 000 18 305 000 Net Margin 0,04 ROE 3,22 Total Liability and Equity 12 852 000 13 249 000 13 536 000 18 324 000 18 765 000 19 416 000 22 444 000 28 520 000 ROE 10,78 Net Interestbearing Debt -356 000 477 000 -5 000 -1 506 000 3 813 000 -1 020 000 596 000 1 308 000 Chg Operating Activities -729 000 -529 000 284 000 902 000 -1 456 000 1 261 000 832 000 608 000 Chg Investing activities -33 000 -64 000 -66 000 -232 000 -83 000 612 000 -212 000 57 000 Chg Financing activities -24 000 -277 000 1 000 992 000 -27 000 252 000 359 000 -5 000 Chg Cash and Liquids -797 000 -918 000 178 000 1 662 000 -1 575 000 2 125 000 1 139 000 660 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 79 Share Price Company: Belships ASA 20,0 Ticker: BEL 16,0 12,0 Company Presentation: Belships is a shipping company quoted on the Oslo 8,0 Stock Exchange with interests in the dry bulk carrier, product tanker and ship management markets. 4,0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003094104 Isin NO0003679102 Revenue 121 342 105 250 104 648 105 164 78 692 73 349 86 966 89 933 Round Lot 1 000,00 Round Lot 200,00 Other Income 0 0 0 1 207 0 0 0 0 Reg.Share Capital (mill) 49 704,00 Reg.Share Capital (mill) 3 673,73 Operating Costs 101 140 86 438 94 379 97 532 73 233 58 682 70 399 76 331 Number of Shares 24 852,00 Number of Shares 36 737,35 EBITDA 18 694 17 073 10 268 8 839 5 459 14 667 16 567 13 603 Currency NOK Currency NOK Depreciation 1 206 1 234 2 107 1 459 1 508 1 595 1 487 1 015 Gics 20 Gics 20 EBIT 17 487 15 839 8 162 7 380 3 951 13 072 15 081 12 588 Listed From 02-01-80 Listed From 11-01-88 Net Financials 377 -5 582 -1 654 199 507 8 218 -2 467 -3 975 Par Value 2,00 Par Value 0,10 Pre Tax Profit 17 864 10 256 6 507 7 579 4 458 21 291 12 613 8 612 Number of days traded 243 Number of days traded 251 Tax 5 963 4 789 2 223 4 191 1 081 442 4 782 2 575 Avg. Trades pr Day 13,18 Avg. Trades pr Day 161,61 Minority Interests 0 0 0 0 0 0 0 0 Net Income 11 901 5 467 4 284 3 388 3 377 20 848 7 831 6 037 Key Figures 2006 Key Figures 2006 EPS 0,48 0,22 0,17 0,14 0,14 0,85 0,32 0,25 (Preliminary figures) (Preliminary figures) Price Book 2,29 2,63 2,29 1,57 1,69 1,42 1,47 2,17 Long Term Fixed Assets 147 649 151 267 151 896 152 519 147 441 134 374 137 204 134 497 Operating result per Share 1,84 Operating result per Share 2,89 Current Assets 29 940 27 448 27 009 129 093 19 405 28 266 26 279 19 041 BVPS 5,53 BVPS 10,16 Cash 173 183 92 961 89 138 0 83 512 93 730 218 116 211 685 Gross Margin 1,00 Gross Margin 0,63 Total Assets 350 772 271 676 268 043 281 612 250 359 256 369 381 598 365 223 EBITDA Margin 0,15 EBITDA Margin 0,19 Total Equity 193 939 102 244 105 675 112 787 113 015 127 657 140 144 137 531 EBITDA 50 767 EBITDA 159 230 Long term debt 0 99 167 100 187 80 040 67 964 64 453 160 549 154 076 EBITA 45 145 EBITA 100 315 Short term debt 60 481 70 266 62 182 65 243 44 695 39 926 56 383 47 051 Net Margin 0,12 Net Margin 0,08 Total Liability and Equity 350 772 271 676 268 043 281 612 250 359 256 369 381 598 365 223 ROE 17,97 ROE 12,95 Net Interestbearing Debt -173 183 6 206 30 672 80 040 -15 548 -29 277 -57 567 -38 844 Chg Operating Activities -3 600 16 779 19 322 25 807 -7 134 8 430 36 683 43 897 Chg Investing activities 145 -2 890 -8 207 -3 773 200 0 -601 -1 721 Chg Financing activities -9 897 -111 613 -113 585 -116 576 -10 010 -9 751 79 710 77 377 Chg Cash and Liquids -13 353 -97 724 -102 470 -94 542 -16 944 -1 321 115 792 119 554 Share Price Company: B+H Ocean Carriers Ltd. 140,0 Ticker: BHOC 120,0 100,0 Company Presentation: B+H owns and operates a fleet of refined petroleum product and combination carriers (OBOs) for oil and dry cargoes. B+H has 80,0 offices in Singapore, Norway, USA and Bermuda.” 40,0 Period Apr 06 Aug 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin LR000A0D81P7 Isin NO0003111700 Revenue 144 331 145 973 149 308 172 429 Round Lot 100,00 Round Lot 50,00 Other Income 5 919 1 215 1 302 0 Reg.Share Capital (mill) 17,96 Reg.Share Capital (mill) 20 688,88 Operating Costs 53 847 61 351 83 189 112 823 Number of Shares 1 796,23 Number of Shares 2 068,89 EBITDA 85 298 62 452 67 421 59 607 Currency USD Currency NOK Depreciation 24 518 25 065 27 197 30 352 Gics 20 Gics 20 EBIT 60 781 37 387 40 224 29 254 Listed From 12-04-06 Listed From 02-01-80 Net Financials -1 175 -7 729 -19 646 -17 097 Par Value 0,01 Par Value 10,00 Pre Tax Profit 59 606 29 658 20 577 12 158 Number of days traded 43 Number of days traded 175 Tax 0 0 0 0 Avg. Trades pr Day 2,98 Avg. Trades pr Day 7,87 Minority Interests 0 0 0 0 Net Income 59 606 29 658 20 577 12 158 Key Figures 2006 Key Figures 2006 EPS 8,41 4,20 2,90 1,75 (Preliminary figures) (Preliminary figures) Price Book 0,00 1,03 0,97 0,83 Long Term Fixed Assets 1 802 532 1 714 329 1 774 919 1 718 576 Operating result per Share 23,77 Operating result per Share 5,41 Current Assets 29 029 36 308 30 730 40 527 BVPS 473,75 BVPS 211,18 Cash 308 693 249 404 338 155 496 599 Gross Margin 1,00 Gross Margin 0,52 Total Assets 2 140 254 2 000 041 2 143 804 2 255 702 EBITDA Margin 0,44 EBITDA Margin 0,09 Total Equity 849 031 821 603 871 911 850 963 EBITDA 274 334 EBITDA 38 291 Long term debt 934 702 864 142 932 227 1 038 997 EBITA 167 011 EBITA 11 053 Short term debt 288 577 291 642 339 665 365 742 Net Margin 0,19 Net Margin 0,68 Total Liability and Equity 2 140 254 2 000 041 2 143 804 2 255 702 ROE 8,36 ROE 55,90 Net Interestbearing Debt 831 804 614 738 820 537 766 425 Chg Operating Activities 82 235 142 033 179 693 66 048 Chg Investing activities -113 667 -181 768 -183 802 -38 265 Chg Financing activities -61 541 -90 330 -51 819 148 223 Chg Cash and Liquids -92 973 -130 065 -55 929 176 007

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 80 Share Price Company: Blom ASA 40,0 Ticker: BLO 30,0 20,0 Company Presentation: Blom has two divisions, Geographic Information (GI) 10,0 and Offshore Technologies (OT). The Company is a leading pan-European player within GI, which is based on Blom collecting, processing and selling 0 Period map data. OT focuses on mooring systems and power- and control cables for Jan 05 Dec 06 Dec 06 offshore installations.

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003094104 (All figures are in NOK ‘ 000) Isin NO0003679102 Round Lot 1 000,00 Revenue 67 460 106 729 100 745 136 596 110 968 151 736 252 118 286 822 Round Lot 200,00 Reg.Share Capital (mill) 49 704,00 Other Income 0 0 0 0 0 0 31 407 1 978 Reg.Share Capital (mill) 3 673,73 Number of Shares 24 852,00 Operating Costs 57 536 85 534 67 791 109 886 103 093 124 714 205 430 242 562 Number of Shares 36 737,35 Currency NOK EBITDA 9 924 21 195 32 954 26 710 7 875 27 022 78 095 46 238 Currency NOK Gics 20 Depreciation 3 914 3 605 16 714 8 508 10 107 10 240 15 814 22 754 Gics 20 Listed From 02-01-80 EBIT 6 010 17 590 16 240 18 202 -2 232 16 782 62 281 23 484 Listed From 11-01-88 Par Value 2,00 Net Financials -519 -873 -961 -6 530 -6 198 -7 708 -12 302 -3 748 Par Value 0,10 Number of days traded 243 Pre Tax Profit 5 491 16 717 15 279 11 672 -8 430 9 074 49 979 19 736 Number of days traded 251 Avg. Trades pr Day 13,18 Tax 1 547 4 203 5 367 -1 269 -2 329 2 509 817 6 687 Avg. Trades pr Day 161,61 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 3 944 12 514 9 912 12 941 -6 101 6 565 49 162 13 049 Key Figures 2006 (Preliminary figures) EPS 0,13 0,40 0,31 0,40 -0,19 0,20 1,34 0,36 (Preliminary figures) Price Book 3,23 3,02 8,08 5,98 4,48 3,36 2,39 3,45 Operating result per Share 1,84 Long Term Fixed Assets 173 783 180 805 196 130 391 598 497 384 549 546 773 912 838 061 Operating result per Share 2,89 BVPS 5,53 Current Assets 113 207 133 740 130 118 255 763 320 274 323 641 515 168 505 967 BVPS 10,16 Gross Margin 1,00 Cash 40 374 27 141 21 288 126 641 0 32 675 113 406 81 408 Gross Margin 0,63 EBITDA Margin 0,15 Total Assets 327 364 341 686 347 536 774 002 817 658 905 862 1 402 486 1 425 436 EBITDA Margin 0,19 EBITDA 50 767 Total Equity 127 252 136 905 143 045 189 486 201 605 203 881 361 837 373 160 EBITDA 159 230 EBITA 45 145 Long term debt 75 839 71 192 88 549 328 970 335 387 382 302 405 951 477 902 EBITA 100 315 Net Margin 0,12 Short term debt 118 834 128 759 110 994 235 601 260 336 299 619 607 835 545 944 Net Margin 0,08 ROE 17,97 Total Liability and Equity 327 364 341 686 347 536 774 004 817 658 905 863 1 402 486 1 425 436 ROE 12,95 Net Interestbearing Debt 51 681 61 724 71 584 262 105 430 884 459 772 586 509 576 625 Chg Operating Activities 2 654 4 258 7 473 10 743 5 831 -14 146 2 016 112 378 Chg Investing activities -11 967 -13 404 -14 179 -133 165 -81 415 -26 735 -21 116 -84 905 Chg Financing activities 29 717 -4 087 852 227 776 4 886 17 613 99 831 -59 385 Chg Cash and Liquids 20 404 -13 233 -5 854 105 354 -70 698 -23 268 80 731 -31 912 Share Price Company: Borgestad 250,0 Ticker: BOR 200,0 150,0 100,0 Company Presentation: Borgestad`s are focused on shipping, industrial activity and real estate. The company has technical management for 13 vessels. 50,0 The industrial activity includes production and sale of refractory products. 0 Period The real estate activities are in Norway and Poland Jan 05 Dec 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin LR000A0D81P7 (All figures are in NOK ‘ 000) Isin NO0003111700 Round Lot 100,00 Revenue 123 597 116 502 92 623 146 629 143 431 124 124 74 205 84 216 Round Lot 50,00 Reg.Share Capital (mill) 17,96 Other Income 0 -419 -730 -191 932 1 934 -6 3 798 Reg.Share Capital (mill) 20 688,88 Number of Shares 1 796,23 Operating Costs 102 658 89 816 23 519 107 952 117 505 105 648 77 963 92 817 Number of Shares 2 068,89 Currency USD EBITDA 20 939 26 267 68 374 38 486 26 448 20 410 -3 764 -4 803 Currency NOK Gics 20 Depreciation 10 808 10 761 60 715 14 189 14 635 8 978 2 078 1 547 Gics 20 Listed From 12-04-06 EBIT 10 131 15 506 7 659 24 297 11 813 11 432 -5 842 -6 350 Listed From 02-01-80 Par Value 0,01 Net Financials -19 915 -15 055 -4 983 -8 375 4 190 272 284 5 401 16 712 Par Value 10,00 Number of days traded 43 Pre Tax Profit -9 784 451 2 676 15 922 16 003 283 716 -441 10 362 Number of days traded 175 Avg. Trades pr Day 2,98 Tax 0 0 0 -1 058 4 029 9 270 27 2 322 Avg. Trades pr Day 7,87 Minority Interests 0 0 0 0 0 1 138 839 -165 Key Figures 2006 Net Income -9 784 451 2 676 16 980 11 974 273 308 -1 307 8 205 Key Figures 2006 (Preliminary figures) EPS -4,81 0,23 1,34 8,47 5,80 132,36 -0,64 4,08 (Preliminary figures) Price Book 1,68 1,82 1,59 1,41 2,47 0,92 0,93 0,98 Operating result per Share 23,77 Long Term Fixed Assets 542 842 574 713 569 595 541 196 586 460 177 027 182 076 373 934 Operating result per Share 5,41 BVPS 473,75 Current Assets 138 435 115 175 137 722 179 696 177 935 163 674 159 139 208 990 BVPS 211,18 Gross Margin 1,00 Cash 32 988 21 930 57 310 78 016 46 132 314 870 302 595 246 872 Gross Margin 0,52 EBITDA Margin 0,44 Total Assets 714 265 711 818 764 627 798 908 810 527 655 571 643 810 829 796 EBITDA Margin 0,09 EBITDA 274 334 Total Equity 167 187 146 761 152 334 171 694 194 857 443 594 441 696 439 077 EBITDA 38 291 EBITA 167 011 Long term debt 389 806 436 168 457 417 396 842 380 786 43 012 38 461 219 715 EBITA 11 053 Net Margin 0,19 Short term debt 131 806 92 293 119 615 195 474 200 487 152 437 145 615 156 292 Net Margin 0,68 ROE 8,36 Total Liability and Equity 714 265 711 818 764 627 798 908 810 528 655 573 643 810 829 796 ROE 55,90 Net Interestbearing Debt 356 818 414 238 400 107 318 826 431 032 -201 783 -199 516 -7 757 Chg Operating Activities 8 590 21 541 4 819 47 977 2 054 -12 915 23 388 29 305 Chg Investing activities -6 123 -45 777 -38 335 30 256 -31 519 287 702 -23 158 -145 056 Chg Financing activities -13 186 26 649 63 749 -60 782 -9 105 -10 827 -4 249 74 257 Chg Cash and Liquids -10 719 2 413 30 233 17 451 -38 570 263 960 -4 019 -41 494

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 81 Share Price Company: Camillo Eitzen & Co ASA 90,0 Ticker: CECO 70,0 50,0 Company Presentation: The company is a diversified company holding interest in a variety of shipping and non-shipping activities. 30,0 10,0 Period Jan 05 Dec 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010227036 Isin NO0003146904 Revenue 1 083 423 1 106 419 1 013 933 1 169 169 1 082 766 1 073 691 1 308 273 751 476 Round Lot 100,00 Round Lot 500,00 Other Income 24 877 22 150 23 109 117 717 137 470 157 533 167 859 438 228 Reg.Share Capital (mill) 197 765,63 Reg.Share Capital (mill) 55 500,00 Operating Costs 683 833 695 451 572 486 671 720 676 668 718 622 929 907 947 783 Number of Shares 39 553,13 Number of Shares 11 100,00 EBITDA 158 013 146 704 182 897 290 429 227 907 143 371 154 202 241 920 Currency NOK Currency NOK Depreciation 53 680 52 945 73 003 74 046 81 928 80 764 118 544 62 272 Gics 20 Gics 20 EBIT 104 332 93 760 109 895 216 383 145 979 62 607 35 658 179 648 Listed From 28-06-04 Listed From 02-01-80 Net Financials 6 541 -1 420 -5 693 -30 110 -34 321 -33 653 -71 076 -37 886 Par Value 5,00 Par Value 5,00 Pre Tax Profit 123 051 103 338 120 725 186 272 111 658 28 955 -35 418 129 457 Number of days traded 249 Number of days traded 62 Tax 18 518 20 219 29 661 -36 297 19 700 13 197 -11 089 7 951 Avg. Trades pr Day 28,89 Avg. Trades pr Day 2,18 Minority Interests 5 222 4 962 4 866 7 241 6 173 1 408 3 966 -854 Net Income 99 312 78 158 86 198 215 329 85 786 14 350 -28 295 122 360 Key Figures 2006 Key Figures 2006 EPS 2,75 2,17 2,39 5,97 2,38 0,40 -0,75 3,09 (Preliminary figures) (Preliminary figures) Price Book 2,56 2,12 2,20 1,84 1,78 1,75 1,74 1,70 Long Term Fixed Assets 2 334 101 2 455 161 3 320 815 3 730 014 3 988 719 5 749 413 6 207 149 3 924 356 Operating result per Share 9,49 Operating result per Share 7,59 Current Assets 575 372 468 027 570 859 712 900 640 010 696 539 823 846 947 710 BVPS 39,63 BVPS 18,95 Cash 449 688 396 576 531 860 536 697 508 492 473 673 448 122 322 450 Gross Margin 1,00 Gross Margin 1,00 Total Assets 3 359 162 3 319 763 4 423 535 4 979 611 5 137 220 6 919 625 7 479 117 5 194 517 EBITDA Margin 0,17 EBITDA Margin 0,54 Total Equity 1 090 485 1 170 705 1 319 315 1 492 654 1 530 938 1 345 175 1 584 044 1 626 845 EBITDA 662 609 EBITDA 149 716 Long term debt 1 297 666 1 356 391 2 122 521 2 292 092 2 440 330 4 344 429 4 514 444 1 809 707 EBITA 353 925 EBITA 84 023 Short term debt 919 245 743 499 923 180 1 134 055 1 106 433 1 160 656 1 318 776 1 696 239 Net Margin 0,05 Net Margin 0,17 Total Liability and Equity 3 359 162 3 319 763 4 423 535 4 979 611 5 137 220 6 919 625 7 479 117 5 194 517 ROE 7,35 ROE 17,97 Net Interestbearing Debt 1 042 278 1 152 762 1 868 817 1 755 395 1 931 839 4 316 345 4 066 322 2 579 716 Chg Operating Activities 131 653 42 995 138 141 108 473 178 945 19 191 -162 906 25 523 Chg Investing activities -10 550 -195 538 -744 921 -214 626 -449 635 -2 025 974 -281 906 -19 274 Chg Financing activities -69 308 85 652 740 714 92 778 257 063 1 998 253 400 602 -24 315 Chg Cash and Liquids 51 795 -66 891 133 934 -13 374 -13 627 -8 530 -44 210 -18 066 Share Price Company: Eitzen Chemical ASA 26,2 Ticker: ECHEM 25,8 25,4 Company Presentation: Eitzen Chemical ASA is one of the largest chemical shipowning companies in the world. After delivery of a substantial newbuilding 25,0 fleet, the company will control 119 chemical tankers. 24,6 Period Nov 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010327620 Isin NO0003075905 Revenue 0 703 160 Round Lot 200,00 Round Lot 5 000,00 Other Income 0 54 257 Reg.Share Capital (mill) 170 574,14 Reg.Share Capital (mill) 26 703,23 Operating Costs 5 706 312 432 Number of Shares 170 574,14 Number of Shares 106 812,91 EBITDA -5 706 215 530 Currency NOK Currency NOK Depreciation 0 135 012 Gics 20 Gics 20 EBIT -5 706 80 518 Listed From 02-11-06 Listed From 31-10-97 Net Financials 44 -55 612 Par Value 1,00 Par Value 0,25 Pre Tax Profit -5 662 24 906 Number of days traded 40 Number of days traded 212 Tax 0 1 631 Avg. Trades pr Day 13,48 Avg. Trades pr Day 10,58 Minority Interests 0 0 Net Income -5 662 23 275 Key Figures 2006 Key Figures 2006 EPS -5,66 0,14 (Preliminary figures) (Preliminary figures) Price Book 0,00 1,12 Long Term Fixed Assets 0 9 124 590 Operating result per Share 0,07 Operating result per Share -0,75 Current Assets 0 499 432 BVPS 3,63 BVPS 0,86 Cash 1 008 297 768 Gross Margin 1,43 Gross Margin 0,37 Total Assets 1 008 9 921 790 EBITDA Margin 0,28 EBITDA Margin 0,01 Total Equity -5 952 3 867 754 EBITDA 32 472 EBITDA 5 785 Long term debt 0 5 186 579 EBITA 11 450 EBITA -78 908 Short term debt 6 960 855 329 Net Margin 0,03 Net Margin -0,15 Total Liability and Equity 1 008 9 921 790 ROE 0,24 ROE -37,28 Net Interestbearing Debt -1 008 5 192 821 Chg Operating Activities -70 48 810 Chg Investing activities 0 -7 194 282 Chg Financing activities 6 7 450 216 Chg Cash and Liquids -63 304 744

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 82 Share Price Company: Eidsiva Rederi ASA 30,0

Ticker: EID 20,0

Company Presentation: Eidsiva Rederi ASA was founded by Mr. Sverre 10,0 Ditlev-Simonsen in 1930 and over many years the company developed steadily as an owner and operator of dry cargo vessels and tankers 0 Period Jan 05 Dec 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010227036 (All figures are in NOK ‘ 000) Isin NO0003146904 Round Lot 100,00 Revenue 50 172 52 991 63 209 69 154 67 936 65 510 69 707 76 476 Round Lot 500,00 Reg.Share Capital (mill) 197 765,63 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 55 500,00 Number of Shares 39 553,13 Operating Costs 17 536 15 786 24 864 30 838 25 886 27 921 32 520 43 586 Number of Shares 11 100,00 Currency NOK EBITDA 32 636 37 205 38 345 38 316 42 050 37 589 37 187 32 890 Currency NOK Gics 20 Depreciation 9 568 9 158 11 587 13 162 15 326 14 779 16 926 18 662 Gics 20 Listed From 28-06-04 EBIT 23 068 28 047 26 758 25 154 26 724 22 810 20 261 14 228 Listed From 02-01-80 Par Value 5,00 Net Financials -514 -2 734 4 714 1 581 -12 333 6 219 -1 427 -4 074 Par Value 5,00 Number of days traded 249 Pre Tax Profit 22 554 25 313 31 472 26 735 14 391 29 029 18 834 10 154 Number of days traded 62 Avg. Trades pr Day 28,89 Tax 3 028 3 587 5 039 -2 541 -1 858 3 057 -4 077 -9 192 Avg. Trades pr Day 2,18 Minority Interests 11 741 12 498 13 478 14 632 10 133 10 452 12 488 2 988 Key Figures 2006 Net Income 7 785 9 228 12 955 14 644 6 116 15 520 10 423 16 358 Key Figures 2006 (Preliminary figures) EPS 0,66 0,78 1,10 1,31 0,55 1,40 0,94 1,48 (Preliminary figures) Price Book 1,57 1,43 1,61 1,56 1,58 1,35 1,42 1,48 Operating result per Share 9,49 Long Term Fixed Assets 756 772 765 128 904 557 956 351 921 377 860 294 1 030 305 1 021 025 Operating result per Share 7,59 BVPS 39,63 Current Assets 16 612 25 179 32 624 21 259 50 036 45 350 35 727 26 431 BVPS 18,95 Gross Margin 1,00 Cash 49 435 62 944 49 129 59 897 64 367 59 039 77 359 87 434 Gross Margin 1,00 EBITDA Margin 0,17 Total Assets 822 819 853 251 986 310 1 037 507 1 035 780 964 683 1 143 391 1 134 890 EBITDA Margin 0,54 EBITDA 662 609 Total Equity 285 380 305 785 330 014 330 182 338 779 341 906 353 340 324 351 EBITDA 149 716 EBITA 353 925 Long term debt 413 910 420 861 484 521 522 898 542 772 476 715 633 030 623 511 EBITA 84 023 Net Margin 0,05 Short term debt 120 137 123 213 171 775 184 427 154 229 146 062 157 021 187 028 Net Margin 0,17 ROE 7,35 Total Liability and Equity 822 819 853 251 986 310 1 037 507 1 035 780 964 683 1 143 391 1 134 890 ROE 17,97 Net Interestbearing Debt 364 475 357 917 435 392 463 001 478 405 417 676 555 671 536 077 Chg Operating Activities 32 356 65 899 110 641 152 273 29 859 245 71 308 108 213 141 771 Chg Investing activities -20 895 -18 768 -171 992 -223 691 -24 805 082 -16 929 -168 391 -181 978 Chg Financing activities -12 726 -34 888 59 779 80 615 -583 977 -55 237 77 640 68 669 Chg Cash and Liquids -1 265 12 243 -1 572 9 197 4 470 186 -858 17 462 28 462 Share Price Company: Eitzen Maritime Services ASA 6,0

Ticker: EMS 4,0

Company Presentation: Eitzen Maritime Services ASA (EMS) provides 2,0 knowledge driven services for the operation of ships. The company delivers relevant, reliable and cost effective services to shipowners all over the world. 0 Period EMS brings together services in the areas of ship management and ship Jan 06 Dec 06 Dec 06 supply.

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010327620 (All figures are in NOK ‘ 000) Isin NO0003075905 Round Lot 200,00 Revenue 76 017 100 505 95 669 118 777 111 480 117 001 128 394 111 327 Round Lot 5 000,00 Reg.Share Capital (mill) 170 574,14 Other Income 272 -298 -160 55 29 473 26 040 29 878 33 940 Reg.Share Capital (mill) 26 703,23 Number of Shares 170 574,14 Operating Costs 77 964 98 747 93 346 115 139 137 132 140 798 153 369 152 960 Number of Shares 106 812,91 Currency NOK EBITDA -1 675 1 460 2 163 3 693 3 821 2 243 4 903 -7 693 Currency NOK Gics 20 Depreciation 750 827 736 139 188 1 105 79 289 1 112 3 187 Gics 20 Listed From 02-11-06 EBIT -2 425 633 1 427 -135 495 2 716 -77 046 3 791 -10 880 Listed From 31-10-97 Par Value 1,00 Net Financials -447 -428 -735 -637 -1 632 -861 -13 -884 Par Value 0,25 Number of days traded 40 Pre Tax Profit -2 872 205 692 -136 132 1 084 -77 907 3 778 -11 764 Number of days traded 212 Avg. Trades pr Day 13,48 Tax -160 485 9 995 1 373 642 362 -1 499 Avg. Trades pr Day 10,58 Minority Interests 0 33 -26 -31 -658 658 658 556 Key Figures 2006 Net Income -2 712 -313 709 -137 096 369 -79 207 2 758 -10 821 Key Figures 2006 (Preliminary figures) EPS -0,06 0,00 0,02 -2,96 0,01 -0,76 0,03 -0,10 (Preliminary figures) Price Book 2,50 1,91 2,53 1,36 2,06 3,05 2,30 2,91 Operating result per Share 0,07 Long Term Fixed Assets 48 416 46 976 46 742 159 475 157 728 75 534 87 158 93 848 Operating result per Share -0,75 BVPS 3,63 Current Assets 83 690 95 872 90 586 111 705 123 396 132 098 134 084 212 465 BVPS 0,86 Gross Margin 1,43 Cash 12 854 10 038 13 152 43 733 46 826 49 311 53 318 0 Gross Margin 0,37 EBITDA Margin 0,28 Total Assets 144 960 152 886 150 480 314 913 327 950 256 943 274 560 306 313 EBITDA Margin 0,01 EBITDA 32 472 Total Equity 42 960 42 285 42 986 177 295 174 656 93 044 110 713 95 118 EBITDA 5 785 EBITA 11 450 Long term debt 11 034 11 589 11 035 16 331 19 283 31 289 31 517 41 147 EBITA -78 908 Net Margin 0,03 Short term debt 90 166 98 119 95 272 120 094 133 673 132 345 132 060 167 095 Net Margin -0,15 ROE 0,24 Total Liability and Equity 144 960 152 886 150 480 314 912 327 952 256 942 274 560 306 313 ROE -37,28 Net Interestbearing Debt -1 820 1 551 -2 117 -27 402 -27 543 -18 022 -21 801 41 147 Chg Operating Activities -3 305 -3 444 -44 0 -1 464 -14 077 1 882 59 005 Chg Investing activities -4 354 -1 298 -448 0 -1 158 -242 24 -10 743 Chg Financing activities 1 154 1 926 3 607 0 5 685 16 803 2 100 -14 358 Chg Cash and Liquids -6 505 -2 816 3 115 0 3 063 2 484 4 006 33 904

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 83 Share Price Company: Fairmount Heavy Transport NV 29,0

Ticker: FAIR 27,0

Company Presentation: FAIR aims to become the leading heavy transport 25,0 partner for customers seeking to secure reliable ocean transportation services for their ”high tech/high value” cargoes. The Company is converting two of the 23,0 Period world’s largest semi-submersible barges to self-propelled heavy transportation Nov 06 Dec 06 services.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NL0000026292 Isin NO0004913609 Revenue 14 501 30 275 8 638 Round Lot 200,00 Round Lot 2 000,00 Other Income 0 0 828 Reg.Share Capital (mill) 41 100,00 Reg.Share Capital (mill) 24 903,74 Operating Costs 5 185 6 395 11 477 Number of Shares 30 000,00 Number of Shares 124 518,72 EBITDA -2 523 6 534 -2 010 Currency EUR Currency NOK Depreciation 3 083 1 259 835 Gics 20 Gics 20 EBIT -5 606 5 276 -2 845 Listed From 17-11-06 Listed From 20-01-84 Net Financials -13 -1 442 3 038 Par Value 1,37 Par Value 0,20 Pre Tax Profit -5 619 3 833 193 Number of days traded 29 Number of days traded 236 Tax 0 0 0 Avg. Trades pr Day 14,38 Avg. Trades pr Day 16,83 Minority Interests 0 0 0 Net Income -5 619 3 833 193 Key Figures 2006 Key Figures 2006 EPS -0,19 0,13 0,01 (Preliminary figures) (Preliminary figures) Price Book 0,00 0,00 2,34 Long Term Fixed Assets 392 942 563 567 597 938 Operating result per Share 0,13 Operating result per Share 0,13 Current Assets 21 169 33 076 110 309 BVPS 12,63 BVPS 1,12 Cash 0 0 0 Gross Margin 0,79 Gross Margin 0,50 Total Assets 414 112 596 644 708 246 EBITDA Margin 0,31 EBITDA Margin 0,05 Total Equity 296 443 303 060 378 784 EBITDA 12 008 EBITDA 17 441 Long term debt 92 056 263 883 300 457 EBITA 3 954 EBITA 15 933 Short term debt 25 613 29 700 29 005 Net Margin 0,14 Net Margin 0,04 Total Liability and Equity 414 112 596 644 708 246 ROE 0,85 ROE 6,24 Net Interestbearing Debt 92 056 263 883 300 457 Chg Operating Activities 2 870 -8 432 225 Chg Investing activities -62 723 -119 651 -58 328 Chg Financing activities 54 094 136 136 131 557 Chg Cash and Liquids -5 759 8 053 73 453 Share Price Company: Fosen Trafikklag ASA 700,0

Ticker: FOS 500,0

Company Presentation: Fosen Trafikklag is a transport corporation with 300,0 several subsidiaries and associated companies. Each branch is specialized in the individual line of transportation. 100,0 Period Jan 05 Dec 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003168908 Isin BMG4032A1045 Revenue 314 398 347 835 346 980 319 211 332 133 333 506 354 629 390 231 Round Lot 20,00 Round Lot 1 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 18 811,88 Reg.Share Capital (mill) 27 137,76 Operating Costs 285 897 154 781 289 282 258 765 305 649 286 470 294 259 353 993 Number of Shares 752,48 Number of Shares 271 377,61 EBITDA 28 501 193 054 57 698 60 446 26 484 47 036 60 370 36 238 Currency NOK Currency USD Depreciation 26 278 168 027 29 769 32 179 26 442 27 144 27 447 27 292 Gics 20 Gics 20 EBIT 2 223 25 027 27 929 28 267 42 19 892 32 923 8 946 Listed From 01-04-92 Listed From 15-12-04 Net Financials -3 343 -2 841 15 000 7 705 6 502 5 018 897 -6 357 Par Value 25,00 Par Value 0,10 Pre Tax Profit -1 120 22 186 42 929 35 972 6 544 24 910 33 820 2 589 Number of days traded 56 Number of days traded 251 Tax -313 6 211 11 249 2 830 -1 705 6 411 7 633 -1 355 Avg. Trades pr Day 2,04 Avg. Trades pr Day 220,90 Minority Interests 0 0 0 0 0 0 0 0 Net Income -807 15 975 31 680 33 142 8 249 18 499 26 187 3 944 Key Figures 2006 Key Figures 2006 EPS -1,08 21,28 42,19 44,14 10,99 24,64 34,88 5,25 (Preliminary figures) (Preliminary figures) Price Book 0,94 0,82 0,83 0,91 0,78 1,07 1,04 1,12 Long Term Fixed Assets 985 719 1 002 927 1 005 690 857 838 979 075 981 214 991 234 959 653 Operating result per Share 78,87 Operating result per Share 1,35 Current Assets 0 0 231 292 9 227 294 079 281 057 332 434 368 073 BVPS 506,04 BVPS 3,16 Cash 257 264 244 891 0 389 316 0 0 0 0 Gross Margin 0,97 Gross Margin 1,21 Total Assets 1 242 983 1 247 818 1 236 982 1 256 381 1 273 154 1 262 271 1 323 668 1 327 726 EBITDA Margin 0,12 EBITDA Margin 0,23 Total Equity 279 273 294 368 325 370 359 982 367 116 367 811 394 558 380 783 EBITDA 167 545 EBITDA 411 238 Long term debt 648 403 646 075 604 293 529 316 597 524 577 495 543 788 495 305 EBITA 59 220 EBITA 346 127 Short term debt 315 307 307 375 307 319 367 083 308 514 316 965 385 322 451 638 Net Margin 0,04 Net Margin 0,16 Total Liability and Equity 1 242 983 1 247 818 1 236 982 1 256 381 1 273 154 1 262 271 1 323 668 1 327 726 ROE 9,28 ROE 19,17 Net Interestbearing Debt 391 139 401 184 604 293 140 000 597 524 577 495 543 788 495 305 Chg Operating Activities 0 68 851 0 0 0 34 695 63 358 165 002 Chg Investing activities 0 -151 365 0 0 0 -114 502 -132 291 -155 848 Chg Financing activities 0 84 367 0 0 0 30 664 29 618 -5 403 Chg Cash and Liquids 0 1 853 0 0 0 -49 143 -39 315 3 751

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 84 Share Price Company: Goodtech ASA 4,5

Ticker: GOD 3,0

Company Presentation: Goodtech ASA supply technology and projects for 1,5 drinking- and wastewater treatment. The company supply technology, projects and services within automation, material handling and infrastructure. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NL0000026292 (All figures are in NOK ‘ 000) Isin NO0004913609 Round Lot 200,00 Revenue 21 178 34 185 34 114 41 586 72 308 77 575 74 228 93 566 Round Lot 2 000,00 Reg.Share Capital (mill) 41 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 24 903,74 Number of Shares 30 000,00 Operating Costs 17 417 33 428 32 725 52 281 70 923 72 464 69 467 87 442 Number of Shares 124 518,72 Currency EUR EBITDA 3 761 757 1 389 -10 695 1 385 5 111 4 761 6 124 Currency NOK Gics 20 Depreciation 164 291 250 338 236 222 217 403 Gics 20 Listed From 17-11-06 EBIT 3 597 466 1 139 -11 033 1 149 4 889 4 544 5 721 Listed From 20-01-84 Par Value 1,37 Net Financials -404 -395 -538 -1 201 -788 -948 -724 -22 Par Value 0,20 Number of days traded 29 Pre Tax Profit 3 193 71 601 -12 234 361 3 941 3 820 5 699 Number of days traded 236 Avg. Trades pr Day 14,38 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 16,83 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 3 193 71 601 -12 234 361 3 941 3 820 5 699 Key Figures 2006 (Preliminary figures) EPS 0,05 0,00 0,01 -0,12 0,00 0,03 0,03 0,05 (Preliminary figures) Price Book 2,90 3,32 11,18 1,28 2,32 2,09 2,29 3,53 Operating result per Share 0,13 Long Term Fixed Assets 11 380 11 282 11 070 145 608 150 423 151 395 153 247 147 259 Operating result per Share 0,13 BVPS 12,63 Current Assets 33 689 37 353 43 446 81 801 74 884 73 158 85 096 114 788 BVPS 1,12 Gross Margin 0,79 Cash 3 506 3 876 6 217 36 866 19 618 22 407 18 214 23 459 Gross Margin 0,50 EBITDA Margin 0,31 Total Assets 48 575 52 511 60 733 264 275 244 925 246 960 256 557 285 506 EBITDA Margin 0,05 EBITDA 12 008 Total Equity 15 395 15 530 15 976 107 658 111 190 114 874 119 741 139 294 EBITDA 17 441 EBITA 3 954 Long term debt 0 1 110 0 56 734 27 492 29 416 31 313 12 488 EBITA 15 933 Net Margin 0,14 Short term debt 32 030 35 871 44 757 99 883 106 243 102 670 105 504 133 724 Net Margin 0,04 ROE 0,85 Total Liability and Equity 48 575 52 511 60 733 264 275 244 925 246 960 256 558 285 506 ROE 6,24 Net Interestbearing Debt -3 506 -2 766 -5 062 19 868 7 874 7 009 13 099 -10 971 Chg Operating Activities -5 677 -7 507 -10 146 -16 955 -15 721 -13 565 -17 700 -10 280 Chg Investing activities 423 402 570 -8 873 -674 -1 501 -2 810 -12 414 Chg Financing activities -322 -750 6 711 53 612 -853 606 1 858 9 287 Chg Cash and Liquids -5 576 -7 855 -2 865 27 784 -17 248 -14 460 -18 652 -13 407 Share Price Company: Golden Ocean Group Ltd. 12,0

Ticker: GOGL 8,0

Company Presentation: Golden Ocean Group Ltd. is a Bermuda based dry 4,0 bulk shipping company. Golden Ocean Group Ltd. demerged from Frontline Ltd. in the end of 2004. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003168908 (All figures are in NOK ‘ 000) Isin BMG4032A1045 Round Lot 20,00 Revenue 89 597 109 694 169 728 247 276 264 424 442 997 420 224 586 066 Round Lot 1 000,00 Reg.Share Capital (mill) 18 811,88 Other Income 151 659 2 927 1 724 33 193 4 393 12 955 -8 799 Reg.Share Capital (mill) 27 137,76 Number of Shares 752,48 Operating Costs 52 279 60 989 99 530 161 089 169 329 345 167 264 244 402 256 Number of Shares 271 377,61 Currency NOK EBITDA 36 884 48 539 71 826 85 663 128 288 102 222 95 208 83 479 Currency USD Gics 20 Depreciation 3 902 6 228 12 155 10 251 12 906 10 810 14 030 24 803 Gics 20 Listed From 01-04-92 EBIT 32 982 42 311 59 671 75 412 115 382 91 412 81 178 58 675 Listed From 15-12-04 Par Value 25,00 Net Financials 67 441 -8 415 -24 168 -72 243 -81 415 -28 824 15 840 -23 185 Par Value 0,10 Number of days traded 56 Pre Tax Profit 100 424 108 153 60 569 -8 779 33 967 62 588 97 018 35 490 Number of days traded 251 Avg. Trades pr Day 2,04 Tax 0 0 0 0 0 0 0 328 Avg. Trades pr Day 220,90 Minority Interests 0 0 0 0 0 0 0 1 895 Key Figures 2006 Net Income 100 424 108 153 60 569 -8 779 33 967 62 588 97 018 33 268 Key Figures 2006 (Preliminary figures) EPS 0,45 0,48 0,25 -0,04 0,14 0,25 0,37 0,12 (Preliminary figures) Price Book 3,46 2,55 2,60 1,74 1,39 1,71 2,13 3,53 Operating result per Share 78,87 Long Term Fixed Assets 305 793 2 001 712 2 212 294 2 472 200 2 071 486 2 032 613 2 679 091 2 836 200 Operating result per Share 1,35 BVPS 506,04 Current Assets 52 411 71 811 43 683 76 060 72 559 231 899 224 770 362 933 BVPS 3,16 Gross Margin 0,97 Cash 206 022 98 800 143 523 111 575 143 900 118 612 177 539 255 027 Gross Margin 1,21 EBITDA Margin 0,12 Total Assets 564 226 2 172 323 2 399 499 2 659 835 2 287 945 2 383 124 3 081 400 3 454 160 EBITDA Margin 0,23 EBITDA 167 545 Total Equity 254 914 373 750 530 310 539 696 559 434 602 791 855 414 859 582 EBITDA 411 238 EBITA 59 220 Long term debt 26 585 778 875 1 104 198 1 191 190 1 000 092 908 756 866 263 997 451 EBITA 346 127 Net Margin 0,04 Short term debt 6 115 596 559 347 088 515 078 331 738 610 825 535 760 781 087 Net Margin 0,16 ROE 9,28 Total Liability and Equity 564 226 2 172 323 2 399 499 2 659 835 2 287 945 2 383 124 3 081 400 3 454 160 ROE 19,17 Net Interestbearing Debt -179 437 1 228 919 1 262 510 1 079 614 1 107 394 1 088 974 1 004 716 1 058 138 Chg Operating Activities 16 475 122 726 154 962 47 934 87 801 106 416 89 458 149 944 Chg Investing activities 69 352 -1 193 017 -272 928 -238 092 264 697 -136 180 -78 167 -228 838 Chg Financing activities -6 598 958 679 162 219 153 980 -316 616 11 944 15 865 197 560 Chg Cash and Liquids 79 229 -111 613 44 253 -36 178 35 882 -17 820 27 156 118 667

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 85 Share Price Company: Green Reefers ASA 7,0

Ticker: GRR 5,0

Company Presentation: Green Reefers is a logistic service provider for chilled 3,0 and frozen products. The company offers door-to-door service through ocean transport, terminal handling/storage and inland transport and distribution. 1,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003117202 Isin BMG5137R1088 Revenue 255 732 221 097 175 137 233 086 267 293 474 406 176 728 284 616 Round Lot 2 000,00 Round Lot 500,00 Other Income 9 168 13 543 6 436 47 536 18 599 40 569 7 547 13 102 Reg.Share Capital (mill) 145 010,78 Reg.Share Capital (mill) 4 202,27 Operating Costs 132 281 119 122 109 500 125 979 157 637 277 476 115 267 163 393 Number of Shares 145 010,78 Number of Shares 84 045,34 EBITDA 53 331 42 687 2 959 66 925 33 473 59 342 5 605 37 045 Currency NOK Currency USD Depreciation 8 916 12 150 15 163 16 106 15 582 28 400 19 553 16 377 Gics 20 Gics 20 EBIT 44 415 30 537 -12 204 50 818 17 891 30 942 -13 948 20 667 Listed From 02-01-80 Listed From 24-10-94 Net Financials 2 733 1 264 466 -15 151 -11 238 -23 783 -3 353 -16 088 Par Value 1,00 Par Value 0,05 Pre Tax Profit 47 148 31 801 -11 738 36 038 6 653 7 159 -17 301 4 579 Number of days traded 235 Number of days traded 251 Tax 13 202 8 904 -3 287 -21 570 3 096 -1 489 -2 239 8 067 Avg. Trades pr Day 12,30 Avg. Trades pr Day 252,44 Minority Interests -1 306 407 -255 -968 -1 259 Net Income 33 946 22 897 -8 451 58 915 3 150 8 904 -14 094 -2 229 Key Figures 2006 Key Figures 2006 EPS 0,24 0,16 -0,06 0,41 0,02 0,06 -0,10 -0,01 (Preliminary figures) (Preliminary figures) Price Book 1,78 1,54 1,56 1,15 1,72 1,54 1,54 1,47 Long Term Fixed Assets 558 965 795 380 823 048 987 377 942 212 875 640 1 020 926 1 800 718 Operating result per Share 0,26 Operating result per Share 4,42 Current Assets 119 173 74 906 80 388 113 470 127 984 123 787 92 002 120 555 BVPS 3,70 BVPS 16,92 Cash 90 978 204 642 190 220 159 897 160 067 142 720 91 463 66 410 Gross Margin 1,52 Gross Margin 0,46 Total Assets 769 116 1 074 928 1 093 656 1 260 745 1 230 263 1 142 147 1 204 391 1 987 683 EBITDA Margin 0,10 EBITDA Margin 0,38 Total Equity 489 371 512 267 515 159 602 611 590 226 534 874 542 876 541 185 EBITDA 103 819 EBITDA 455 016 Long term debt 168 753 436 884 440 979 447 885 432 260 442 418 507 867 934 787 EBITA 38 361 EBITA 371 260 Short term debt 110 992 125 777 137 518 210 249 207 777 164 856 153 648 511 711 Net Margin -0,01 Net Margin 0,26 Total Liability and Equity 769 116 1 074 928 1 093 656 1 260 745 1 230 263 1 142 147 1 204 391 1 987 683 ROE -1,01 ROE 13,97 Net Interestbearing Debt 114 198 284 320 250 759 287 988 320 587 351 741 477 608 1 258 820 Chg Operating Activities 20 597 78 810 81 883 80 518 12 125 52 918 56 501 89 786 Chg Investing activities -35 166 -264 687 -281 739 -312 662 1 568 -48 457 -123 573 -994 988 Chg Financing activities 49 558 329 642 328 935 334 577 -10 010 -10 817 6 920 821 268 Chg Cash and Liquids 42 829 156 493 142 071 103 719 3 684 -6 355 -60 487 -83 530 Share Price Company: Hexagon Composites ASA 9,0

Ticker: HEX 6,0

Company Presentation: Hexagon Composites ASA is a composite 3,0 manufacturer pursuing global niches. Main products are; composite gas containers, fibre reinforcements in glass and carbon. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003067902 Isin NO0003043309 Revenue 98 447 115 520 91 532 119 580 118 358 147 377 301 793 115 427 Round Lot 1 000,00 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 15 879,98 Reg.Share Capital (mill) 150 000,00 Operating Costs 89 085 99 010 78 789 106 367 108 439 129 389 278 270 109 167 Number of Shares 127 039,87 Number of Shares 30 000,00 EBITDA 9 362 16 510 12 743 13 213 9 919 17 988 23 523 6 260 Currency NOK Currency NOK Depreciation 4 701 4 798 5 128 6 111 5 866 5 865 15 525 7 345 Gics 20 Gics 20 EBIT 4 661 11 712 7 615 7 102 4 053 12 123 7 998 -1 085 Listed From 30-01-97 Listed From 13-12-93 Net Financials -1 574 -695 -1 166 1 245 -1 414 -3 267 -4 822 2 175 Par Value 0,13 Par Value 5,00 Pre Tax Profit 3 087 11 017 6 449 8 347 2 639 8 856 6 571 5 642 Number of days traded 243 Number of days traded 223 Tax 919 3 092 1 824 2 645 858 2 722 1 255 1 231 Avg. Trades pr Day 22,77 Avg. Trades pr Day 8,31 Minority Interests 0 0 0 0 0 0 0 0 Net Income 2 168 7 925 4 625 5 702 1 781 6 134 5 316 4 411 Key Figures 2006 Key Figures 2006 EPS 0,01 0,05 0,03 0,04 0,01 0,04 0,03 0,03 (Preliminary figures) (Preliminary figures) Price Book 2,42 2,17 4,29 4,43 4,25 4,54 4,46 6,07 Long Term Fixed Assets 234 116 233 421 231 501 239 144 272 409 381 024 434 309 463 785 Operating result per Share 0,05 Operating result per Share 14,94 Current Assets 147 675 145 370 147 272 163 303 179 389 189 419 248 298 316 058 BVPS 1,62 BVPS 55,80 Cash 3 565 24 280 13 982 10 205 7 842 28 073 10 974 10 748 Gross Margin 0,48 Gross Margin 1,00 Total Assets 385 356 403 071 392 755 412 652 459 640 598 516 693 581 790 591 EBITDA Margin 0,07 EBITDA Margin 0,09 Total Equity 182 017 190 901 199 160 202 381 203 575 208 452 209 588 207 059 EBITDA 29 781 EBITDA 627 000 Long term debt 59 415 56 546 76 460 88 300 135 264 294 770 305 523 305 600 EBITA 6 912 EBITA 464 000 Short term debt 131 361 143 648 105 159 110 264 109 174 85 028 168 461 251 626 Net Margin 0,02 Net Margin 0,04 Total Liability and Equity 385 356 403 071 392 755 412 652 459 642 598 516 693 581 790 591 ROE 2,77 ROE 9,21 Net Interestbearing Debt 59 787 73 091 96 639 78 095 151 191 266 697 319 294 369 828 Chg Operating Activities 37 832 30 944 12 210 14 903 -1 057 -1 144 26 358 13 739 Chg Investing activities -66 364 -72 779 -79 024 -94 967 -40 246 -155 666 -237 457 -270 387 Chg Financing activities 6 187 40 206 54 887 64 359 38 941 174 678 211 869 257 191 Chg Cash and Liquids -22 345 -1 629 -11 927 -15 705 -2 362 17 868 770 543

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 86 Share Price Company: Jinhui Shipping and Transportation Ltd. 35,0

Ticker: JIN 25,0

Company Presentation: Jinhui Shipping Group is an international dry bulk 15,0 operator with meticulous operation linking and experienced personnel. Its core operations are ship chartering, ship owning and ship management. 5,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003117202 (All figures are in NOK ‘ 000) Isin BMG5137R1088 Round Lot 2 000,00 Revenue 359 130 388 262 312 709 319 571 242 982 215 853 233 204 309 779 Round Lot 500,00 Reg.Share Capital (mill) 145 010,78 Other Income 144 691 9 719 10 210 30 329 9 483 155 402 16 523 20 475 Reg.Share Capital (mill) 4 202,27 Number of Shares 145 010,78 Operating Costs 12 190 18 147 209 883 254 623 176 216 181 752 201 670 192 435 Number of Shares 84 045,34 Currency NOK EBITDA 322 598 179 801 113 035 95 278 76 249 189 503 48 057 137 819 Currency USD Gics 20 Depreciation 13 459 18 863 21 467 21 351 23 136 21 552 17 345 21 714 Gics 20 Listed From 02-01-80 EBIT 309 138 160 938 91 568 73 927 53 113 167 951 30 711 116 105 Listed From 24-10-94 Par Value 1,00 Net Financials -1 118 -4 904 -8 640 -10 636 -12 432 -13 359 -10 381 -16 840 Par Value 0,05 Number of days traded 235 Pre Tax Profit 308 020 156 034 82 928 63 291 40 681 154 592 20 331 99 265 Number of days traded 251 Avg. Trades pr Day 12,30 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 252,44 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 308 020 156 034 82 928 63 291 40 681 154 592 20 331 99 265 Key Figures 2006 (Preliminary figures) EPS 3,66 1,86 0,99 0,75 0,48 1,84 0,24 1,18 (Preliminary figures) Price Book 2,27 1,86 1,81 1,15 0,90 1,18 1,34 1,88 Operating result per Share 0,26 Long Term Fixed Assets 1 152 138 1 792 165 1 771 142 1 993 071 1 984 571 1 602 468 1 927 141 2 368 012 Operating result per Share 4,42 BVPS 3,70 Current Assets 0 222 031 212 887 162 544 161 673 122 619 306 710 459 950 BVPS 16,92 Gross Margin 1,52 Cash 878 152 199 106 215 477 175 221 140 740 433 722 228 003 0 Gross Margin 0,46 EBITDA Margin 0,10 Total Assets 2 030 290 2 213 302 2 199 506 2 330 836 2 286 984 2 158 809 2 461 853 2 827 962 EBITDA Margin 0,38 EBITDA 103 819 Total Equity 1 079 946 1 148 134 1 234 821 1 226 597 1 236 595 1 301 472 1 377 546 1 421 834 EBITDA 455 016 EBITA 38 361 Long term debt 0 709 506 708 259 870 130 827 651 670 409 839 744 1 147 548 EBITA 371 260 Net Margin -0,01 Short term debt 626 327 355 663 256 426 234 109 222 739 186 929 244 271 258 580 Net Margin 0,26 ROE -1,01 Total Liability and Equity 2 030 290 2 213 302 2 199 506 2 330 836 2 286 984 2 158 809 2 461 561 2 827 962 ROE 13,97 Net Interestbearing Debt -878 152 594 294 492 782 694 909 686 910 236 687 611 741 1 273 326 Chg Operating Activities 221 608 333 808 363 714 454 548 94 434 144 910 74 125 227 444 Chg Investing activities -227 967 -806 699 -810 738 -984 780 -103 123 321 154 29 124 -492 196 Chg Financing activities -9 300 274 539 281 645 313 763 -21 381 -194 444 -45 273 335 675 Chg Cash and Liquids -15 659 -198 351 -165 379 -216 469 -30 070 271 619 57 975 70 923 Share Price Company: Kongsberg Gruppen ASA 200,0 160,0 Ticker: KOG 120,0 80,0 Company Presentation: An international technology corporation headquartered in Norway with 3650 employees in more than 23 countries. Two main business 40,0 areas: Kongsberg Maritime and Kongsberg Defence & Aerospace. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003067902 (All figures are in NOK ‘ 000) Isin NO0003043309 Round Lot 1 000,00 Revenue 1 577 000 1 570 000 1 428 000 1 448 000 1 661 000 1 542 000 1 375 000 2 068 000 Round Lot 50,00 Reg.Share Capital (mill) 15 879,98 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 150 000,00 Number of Shares 127 039,87 Operating Costs 1 485 000 1 454 000 1 240 000 1 290 000 1 532 000 1 409 000 1 207 000 1 890 000 Number of Shares 30 000,00 Currency NOK EBITDA 92 000 116 000 188 000 158 000 129 000 133 000 168 000 178 000 Currency NOK Gics 20 Depreciation 48 000 43 000 39 000 37 000 40 000 34 000 42 000 54 000 Gics 20 Listed From 30-01-97 EBIT 44 000 73 000 149 000 121 000 89 000 99 000 126 000 124 000 Listed From 13-12-93 Par Value 0,13 Net Financials -18 000 -16 000 -22 000 -2 000 -13 000 -12 000 -14 000 -12 000 Par Value 5,00 Number of days traded 243 Pre Tax Profit 26 000 57 000 127 000 193 000 76 000 87 000 112 000 112 000 Number of days traded 223 Avg. Trades pr Day 22,77 Tax 10 000 21 000 46 000 27 000 24 000 25 000 34 000 52 000 Avg. Trades pr Day 8,31 Minority Interests 0 2 000 0 0 1 000 1 000 0 1 000 Key Figures 2006 Net Income 16 000 34 000 81 000 166 000 51 000 61 000 78 000 59 000 Key Figures 2006 (Preliminary figures) EPS 0,54 1,14 2,70 5,53 1,70 2,04 2,60 1,97 (Preliminary figures) Price Book 1,87 1,86 2,12 2,42 2,85 2,59 2,82 3,14 Operating result per Share 0,05 Long Term Fixed Assets 2 467 000 2 493 000 2 251 000 2 292 000 2 382 000 2 613 000 2 636 000 2 807 000 Operating result per Share 14,94 BVPS 1,62 Current Assets 3 769 000 3 550 000 3 614 000 3 272 000 3 632 000 3 662 000 3 909 000 3 880 000 BVPS 55,80 Gross Margin 0,48 Cash 76 000 97 000 176 000 684 000 597 000 431 000 340 000 711 000 Gross Margin 1,00 EBITDA Margin 0,07 Total Assets 6 312 000 6 140 000 6 041 000 6 248 000 6 611 000 6 706 000 6 885 000 7 398 000 EBITDA Margin 0,09 EBITDA 29 781 Total Equity 1 637 000 1 609 000 1 699 000 1 548 000 1 589 000 1 627 000 1 603 000 1 684 000 EBITDA 627 000 EBITA 6 912 Long term debt 1 282 000 1 226 000 1 106 000 2 183 000 1 005 000 2 283 000 1 005 000 1 005 000 EBITA 464 000 Net Margin 0,02 Short term debt 2 413 000 2 320 000 3 236 000 2 517 000 2 862 000 2 796 000 3 006 000 3 327 000 Net Margin 0,04 ROE 2,77 Total Liability and Equity 6 312 000 6 140 000 6 041 000 6 248 000 6 611 000 6 706 000 6 885 000 7 398 000 ROE 9,21 Net Interestbearing Debt 1 208 000 1 131 000 1 949 000 1 499 000 408 000 1 852 000 665 000 294 000 Chg Operating Activities -82 000 85 000 332 000 0 -81 000 86 000 54 000 543 000 Chg Investing activities -25 000 -64 000 -112 000 0 -31 000 -281 000 -327 000 -452 000 Chg Financing activities 21 000 -86 000 -206 000 0 -14 000 -97 000 -110 000 -116 000 Chg Cash and Liquids -86 000 -65 000 14 000 0 -126 000 -292 000 -383 000 -25 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 87 Share Price Company: Kverneland ASA 86,0 Ticker: KVE 82,0 78,0 74,0 Company Presentation: Kverneland Group is one of the world’s leading international companies within the development, production and marketing 70,0 of agriculture and viticulture machinery and related services. 66,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004677006 Isin NO0004895103 Revenue 1 184 822 1 193 947 735 359 874 560 1 058 928 1 038 644 762 517 959 457 Round Lot 100,00 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 154 309,19 Reg.Share Capital (mill) 9 569,84 Operating Costs 1 028 274 1 065 220 753 487 1 042 381 983 520 990 864 842 316 1 011 566 Number of Shares 15 430,92 Number of Shares 956,98 EBITDA 156 548 128 727 -18 128 -167 821 75 409 47 781 -79 798 -52 108 Currency NOK Currency NOK Depreciation 21 422 22 527 21 280 30 728 20 858 20 366 20 957 102 563 Gics 20 Gics 20 EBIT 135 126 106 200 -39 408 -198 549 54 551 27 415 -100 755 -154 671 Listed From 04-06-84 Listed From 01-04-92 Net Financials -29 662 -33 791 -15 763 -18 909 -12 835 -24 282 -8 060 -27 295 Par Value 10,00 Par Value 10,00 Pre Tax Profit 105 464 70 800 -55 172 -217 458 41 715 3 133 -108 816 -181 966 Number of days traded 194 Number of days traded 33 Tax 31 310 20 114 -14 975 -85 092 12 835 3 133 6 448 95 119 Avg. Trades pr Day 5,46 Avg. Trades pr Day 2,21 Minority Interests 1 648 5 632 3 153 -1 576 2 407 3 133 1 612 827 Net Income 72 507 45 055 -43 349 -130 790 26 473 -3 133 -116 876 -277 912 Key Figures 2006 Key Figures 2006 EPS 5,73 3,56 -3,42 -10,23 1,72 -0,20 -7,62 -18,12 (Preliminary figures) (Preliminary figures) Price Book 1,06 1,04 1,20 1,17 1,27 1,25 1,25 1,84 Long Term Fixed Assets 973 232 924 530 927 911 1 023 677 1 018 247 1 020 570 1 049 963 922 656 Operating result per Share -10,97 Operating result per Share 4,37 Current Assetsa 2 301 783 2 205 258 1 999 970 1 727 156 2 157 599 2 055 424 1 982 988 1 835 426 BVPS 41,00 BVPS 69,71 Cash 141 964 147 228 58 290 49 507 50 195 171 418 45 293 228 193 Gross Margin 1,00 Gross Margin 1,00 Total Assets 3 416 978 3 277 017 2 986 171 2 800 340 3 226 041 3 247 411 3 078 243 2 986 275 EBITDA Margin 0,00 EBITDA Margin 0,59 Total Equity 960 102 984 688 940 514 1 002 118 1 019 840 1 013 427 928 908 656 569 EBITDA -5 636 EBITDA 121 040 Long term debt 833 730 818 463 814 482 341 758 578 441 742 810 770 796 28 009 EBITA -168 263 EBITA 4 181 Short term debt 1 296 548 1 155 663 914 520 1 152 236 1 324 995 1 187 226 1 062 315 1 943 344 Net Margin -0,10 Net Margin 0,03 Total Liability and Equity 3 416 978 3 277 017 2 986 171 2 800 340 3 226 041 3 247 411 3 078 243 2 986 275 ROE -25,25 ROE 6,30 Net Interestbearing Debt 767 261 751 973 756 192 292 251 1 853 241 571 392 858 911 626 088 Chg Operating Activities -215 872 -202 746 -299 503 19 697 -230 237 -159 008 -268 413 -1 654 Chg Investing activities -16 479 -36 205 -53 595 -92 971 -16 847 -39 948 -67 708 -96 773 Chg Financing activities 304 033 320 210 339 700 58 304 255 105 327 416 341 763 299 417 Chg Cash and Liquids 65 091 74 018 -15 763 -25 213 8 022 128 460 -7 254 177 830 Share Price Company: Luxo ASA 18,0 Ticker: LUX 14,0 10,0 Company Presentation: Since 1937 Luxo has manufactured and sold indoor luminaires for industrial, office and medical applications. The company has 6,0 sales-offices in 10 countries. Get the right light with Luxo. 2,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003106007 Isin NO0010196140 Revenue 120 100 109 500 98 100 110 200 118 600 101 100 100 800 127 800 Round Lot 1 000,00 Round Lot 100,00 Other Income 0 0 0 0 0 100 0 0 Reg.Share Capital (mill) 62 832,25 Reg.Share Capital (mill) 1 966,92 Operating Costs 118 700 115 000 99 000 115 600 115 200 108 300 103 100 127 100 Number of Shares 12 566,45 Number of Shares 19 669,20 EBITDA 1 400 -5 500 -900 -5 400 3 400 -7 100 -2 300 700 Currency NOK Currency NOK Depreciation 0 0 0 0 0 0 0 0 Gics 20 Gics 20 EBIT 1 400 -5 500 -900 -5 400 3 400 -7 100 -2 300 700 Listed From 15-05-98 Listed From 18-12-03 Net Financials -200 -1 500 -2 300 200 -2 500 -3 200 -100 -1 000 Par Value 5,00 Par Value 0,10 Pre Tax Profit 1 200 -7 000 -3 200 -5 200 900 -10 300 -2 400 -300 Number of days traded 39 Number of days traded 251 Tax 400 -400 -100 12 500 -100 100 0 2 800 Avg. Trades pr Day 2,54 Avg. Trades pr Day 100,69 Minority Interests 0 0 0 0 0 0 0 0 Net Income 800 -6 600 -3 100 -17 700 1 000 -10 400 -2 400 -3 100 Key Figures 2006 Key Figures 2006 EPS 0,12 -1,02 -0,48 -2,73 0,15 -1,60 -0,34 -0,25 (Preliminary figures) (Preliminary figures) Price Book 0,88 0,74 0,71 0,83 0,78 1,12 0,91 0,96 Long Term Fixed Assets 120 500 117 400 116 400 108 300 109 100 85 600 85 500 85 700 Operating result per Share -0,70 Operating result per Share -1,68 Current Assets 136 800 127 700 132 400 132 400 132 200 131 700 135 200 134 800 BVPS 7,79 BVPS 13,24 Cash 23 400 15 900 5 100 10 300 11 100 3 400 20 400 30 400 Gross Margin 0,44 Gross Margin 0,26 Total Assets 280 700 261 000 253 900 251 000 252 400 220 700 241 100 250 900 EBITDA Margin -0,01 EBITDA Margin 0,01 Total Equity 114 000 102 200 99 400 81 000 84 000 74 000 101 700 97 900 EBITDA -5 600 EBITDA 19 495 Long term debt 2 500 2 000 1 600 1 300 1 100 1 000 54 600 54 800 EBITA -5 600 EBITA -32 496 Short term debt 141 800 134 700 130 900 142 900 141 800 120 100 59 200 72 600 Net Margin -0,03 Net Margin 0,00 Total Liability and Equity 280 700 261 000 253 900 251 000 252 500 220 600 241 100 250 900 ROE -9,66 ROE -3,43 Net Interestbearing Debt -20 900 -13 900 -3 500 -9 000 -10 000 -2 400 34 200 24 400 Chg Operating Activities -1 900 300 -9 000 9 800 1 700 -5 700 0 8 700 Chg Investing activities -900 -900 -1 400 -2 100 -600 21 400 0 -1 400 Chg Financing activities -600 -7 000 -300 -2 600 -300 -23 400 0 2 700 Chg Cash and Liquids -3 400 -7 600 -10 700 5 100 800 -7 700 0 10 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 88 Share Price Company: Namsos Trafikkselskap ASA 90,0 Ticker: NAM 70,0 50,0 Company Presentation: NTS is a leading company in its region within the 30,0 transport-sector. The main activities comprises trucktransport, carferries, high-speed passengervessels and operations of ambulances. 10,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0004677006 (All figures are in NOK ‘ 000) Isin NO0004895103 Round Lot 100,00 Revenue 43 026 47 664 49 606 50 256 48 246 50 433 50 196 59 141 Round Lot 100,00 Reg.Share Capital (mill) 154 309,19 Other Income 0 0 -90 780 22 109 -573 110 Reg.Share Capital (mill) 9 569,84 Number of Shares 15 430,92 Operating Costs 37 665 43 258 42 549 44 491 43 190 45 972 46 550 22 377 Number of Shares 956,98 Currency NOK EBITDA 5 361 4 406 6 967 6 545 5 078 4 570 3 073 36 874 Currency NOK Gics 20 Depreciation 3 211 4 098 3 863 4 106 3 954 4 043 4 208 33 210 Gics 20 Listed From 04-06-84 EBIT 2 150 308 3 104 2 439 1 124 527 -1 135 3 664 Listed From 01-04-92 Par Value 10,00 Net Financials -1 339 -878 -584 -177 -81 925 -115 2 316 Par Value 10,00 Number of days traded 194 Pre Tax Profit 911 -295 2 520 2 262 1 043 1 452 -1 250 5 980 Number of days traded 33 Avg. Trades pr Day 5,46 Tax -1 658 -95 582 -540 131 371 -357 154 Avg. Trades pr Day 2,21 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 2 569 -200 1 938 2 802 912 1 081 -893 5 826 Key Figures 2006 (Preliminary figures) EPS 2,71 -0,21 2,03 2,93 0,95 1,13 -0,93 6,09 (Preliminary figures) Price Book 1,30 1,18 1,06 1,10 1,14 1,09 1,18 0,98 Operating result per Share -10,97 Long Term Fixed Assets 150 809 146 945 156 469 153 800 149 580 146 808 139 898 151 032 Operating result per Share 4,37 BVPS 41,00 Current Assets 34 246 34 514 39 930 18 495 21 424 19 900 26 849 29 877 BVPS 69,71 Gross Margin 1,00 Cash 14 627 11 670 12 567 21 836 21 718 15 904 15 866 17 059 Gross Margin 1,00 EBITDA Margin 0,00 Total Assets 199 682 193 129 208 966 194 131 192 722 182 612 182 613 197 968 EBITDA Margin 0,59 EBITDA -5 636 Total Equity 60 522 58 313 60 651 61 136 62 095 61 739 60 888 66 714 EBITDA 121 040 EBITA -168 263 Long term debt 83 102 87 201 106 184 75 912 74 877 66 966 66 914 67 129 EBITA 4 181 Net Margin -0,10 Short term debt 45 715 37 635 31 988 46 563 45 337 43 495 44 397 53 332 Net Margin 0,03 ROE -25,25 Total Liability and Equity 199 682 193 129 208 966 194 132 192 722 182 612 182 612 197 968 ROE 6,30 Net Interestbearing Debt 68 475 75 531 93 617 54 076 53 159 51 062 51 048 50 070 Chg Operating Activities 4 267 7 794 3 575 0 1 008 5 217 5 548 14 331 Chg Investing activities -1 557 -3 362 -17 177 0 -92 -769 -1 086 -13 846 Chg Financing activities -50 -4 728 14 204 0 -1 035 -10 380 -10 433 -5 262 Chg Cash and Liquids 2 660 -296 602 0 -119 -5 932 -5 971 -4 777 Share Price Company: Norwegian Air Shuttle ASA 120,0

Ticker: NAS 80,0

Company Presentation: NAS was founded in 1993, the low-fare operations 40,0 started in Sept.02. Today the company has 850 employees, 22 aircraft and operates in total 99 routes, 10 domestic and 89 international. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003106007 (All figures are in NOK ‘ 000) Isin NO0010196140 Round Lot 1 000,00 Revenue 319 694 531 281 589 904 531 367 539 111 764 594 877 783 759 912 Round Lot 100,00 Reg.Share Capital (mill) 62 832,25 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 966,92 Number of Shares 12 566,45 Operating Costs 120 176 500 464 526 011 526 782 591 440 729 999 823 982 776 484 Number of Shares 19 669,20 Currency NOK EBITDA -44 217 30 817 63 893 4 585 -52 329 34 595 53 801 -16 572 Currency NOK Gics 20 Depreciation 6 815 7 358 7 640 8 423 8 385 14 554 15 418 13 633 Gics 20 Listed From 15-05-98 EBIT -51 032 23 459 56 253 -3 838 -60 714 20 041 38 383 -30 205 Listed From 18-12-03 Par Value 5,00 Net Financials 3 431 -2 849 4 634 7 171 850 4 740 -108 -5 605 Par Value 0,10 Number of days traded 39 Pre Tax Profit -47 601 20 610 60 887 3 333 -59 864 24 781 38 275 -35 810 Number of days traded 251 Avg. Trades pr Day 2,54 Tax -13 327 5 771 17 048 987 -16 762 6 938 10 744 -20 813 Avg. Trades pr Day 100,69 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income -34 274 14 839 43 839 2 346 -43 102 17 843 27 531 -14 997 Key Figures 2006 (Preliminary figures) EPS 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 (Preliminary figures) Price Book 2,40 3,41 6,93 8,51 6,69 7,19 5,63 7,02 Operating result per Share -0,70 Long Term Fixed Assets 185 119 185 763 167 109 169 156 247 265 356 214 342 715 367 833 Operating result per Share -1,68 BVPS 7,79 Current Assets 198 178 269 417 262 490 500 964 305 373 296 958 446 523 467 366 BVPS 13,24 Gross Margin 0,44 Cash 185 571 233 431 249 633 0 522 538 535 501 387 456 231 710 Gross Margin 0,26 EBITDA Margin -0,01 Total Assets 568 868 688 611 679 232 670 120 1 075 176 1 188 673 1 176 694 1 066 909 EBITDA Margin 0,01 EBITDA -5 600 Total Equity 124 662 139 501 167 654 170 425 267 703 286 036 314 331 260 482 EBITDA 19 495 EBITA -5 600 Long term debt 0 0 0 0 0 0 0 0 EBITA -32 496 Net Margin -0,03 Short term debt 430 207 515 470 478 813 464 918 775 614 891 887 814 493 687 675 Net Margin 0,00 ROE -9,66 Total Liability and Equity 568 868 688 611 679 232 670 122 1 075 176 1 188 672 1 176 694 1 066 907 ROE -3,43 Net Interestbearing Debt -185 571 -233 431 -249 633 0 -522 538 -535 501 -387 456 -231 710 Chg Operating Activities 1 832 61 418 37 524 19 140 192 732 141 493 -136 733 -122 061 Chg Investing activities -11 417 -13 559 -5 636 -7 733 -71 523 -128 525 -11 311 -33 601 Chg Financing activities 0 0 -15 686 424 139 864 -4 0 0 Chg Cash and Liquids -9 585 47 859 16 202 11 831 261 073 12 964 -148 044 -155 748

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 89 Share Price Company: Odfjell ASA 160,0 Ticker: ODF 120,0 80,0 Company Presentation: Odfjell is a leading player in the global market for transportation of chemicals and other speciality liquids as well as related 40,0 logistical services. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003399909 Isin NO0010176852 Revenue 1 621 157 1 611 364 1 731 849 1 770 423 1 861 857 1 626 237 1 651 014 1 849 659 Round Lot 100,00 Round Lot 100,00 Other Income 0 0 0 0 6 673 87 231 0 0 Reg.Share Capital (mill) 164 225,61 Reg.Share Capital (mill) 22 111,82 Operating Costs 647 206 741 739 691 447 762 542 740 739 704 080 714 807 841 338 Number of Shares 65 690,24 Number of Shares 11 055,91 EBITDA 502 684 338 898 452 349 397 848 500 499 442 386 385 869 430 303 Currency NOK Currency NOK Depreciation 138 238 172 646 180 939 179 032 193 526 186 924 189 772 192 673 Gics 20 Gics 20 EBIT 364 446 166 252 271 409 218 816 306 973 255 463 196 097 237 630 Listed From 05-05-86 Listed From 18-11-05 Net Financials -31 418 -44 760 -58 159 -53 046 -60 060 -56 077 -75 909 -70 647 Par Value 2,50 Par Value 2,00 Pre Tax Profit 333 028 121 492 239 099 225 447 246 913 199 385 120 189 166 983 Number of days traded 221 Number of days traded 248 Tax 18 851 6 394 12 924 79 570 20 020 -18 692 -56 932 0 Avg. Trades pr Day 11,12 Avg. Trades pr Day 26,50 Minority Interests 0 0 0 0 0 0 0 0 Net Income 314 178 115 097 226 174 145 878 226 893 218 078 177 120 166 983 Key Figures 2006 Key Figures 2006 EPS 3,62 1,33 2,61 1,68 2,63 2,56 2,04 2,00 (Preliminary figures) (Preliminary figures) Price Book 2,39 2,29 2,58 2,45 2,08 1,92 1,91 2,18 Long Term Fixed Assets 9 684 594 10 781 427 10 773 521 11 208 967 10 709 728 10 156 385 11 162 065 11 346 751 Operating result per Share 11,90 Operating result per Share 9,53 Current Assets 715 267 680 794 732 626 1 292 822 1 448 150 1 373 328 1 483 072 1 307 316 BVPS 50,62 BVPS 21,58 Cash 1 753 355 1 446 688 1 524 123 737 788 658 250 624 240 429 310 1 032 092 Gross Margin 1,49 Gross Margin 0,42 Total Assets 12 153 216 12 908 909 13 030 270 13 239 577 12 816 128 12 153 953 13 074 447 13 686 159 EBITDA Margin 0,25 EBITDA Margin 0,14 Total Equity 4 570 116 4 595 362 4 807 856 4 683 940 4 476 100 4 244 832 4 546 785 4 428 611 EBITDA 1 763 995 EBITDA 123 600 Long term debt 5 766 448 6 244 979 6 194 611 6 376 115 6 273 123 5 949 007 6 140 437 7 393 528 EBITA 1 002 292 EBITA 106 500 Short term debt 1 386 226 1 551 426 1 497 958 1 712 481 1 592 965 1 510 661 1 905 877 1 601 306 Net Margin 0,15 Net Margin 0,12 Total Liability and Equity 12 153 216 12 908 909 13 030 270 13 239 577 12 816 128 12 153 953 13 080 952 13 692 414 ROE 9,32 ROE 32,85 Net Interestbearing Debt 4 601 765 5 459 447 5 370 407 5 638 327 6 292 870 5 967 734 6 849 449 7 062 008 Chg Operating Activities 251 342 409 235 284 333 377 956 273 606 224 309 284 658 276 164 Chg Investing activities -12 567 -959 145 -142 167 -537 095 -140 140 -560 772 -272 006 -500 949 Chg Financing activities 18 851 204 618 -71 083 -106 093 -200 200 162 001 -63 257 860 605 Chg Cash and Liquids 257 626 -351 687 71 083 -265 232 -60 060 -168 231 -50 606 642 243 Share Price Company: Odfjell ASA 160,0 Ticker: ODFB 120,0 80,0 Company Presentation: Odfjell is a leading player in the global market for transportation of chemicals and other speciality liquids as well as related 40,0 logistical services. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003399917 Isin NO0003733800 Revenue 1 621 157 1 611 364 1 731 849 1 770 423 1 861 857 1 626 237 1 651 014 1 849 659 Round Lot 100,00 Round Lot 20,00 Other Income 0 0 0 0 6 673 87 231 0 0 Reg.Share Capital (mill) 52 696,76 Reg.Share Capital (mill) 1 301 788,71 Operating Costs 647 206 741 739 691 447 762 542 740 739 704 080 714 807 841 338 Number of Shares 21 078,70 Number of Shares 208 286,19 EBITDA 502 684 338 898 452 349 397 848 500 499 442 386 385 869 430 303 Currency NOK Currency NOK Depreciation 138 238 172 646 180 939 179 032 193 526 186 924 189 772 192 673 Gics 20 Gics 20 EBIT 364 446 166 252 271 409 218 816 306 973 255 463 196 097 237 630 Listed From 11-05-89 Listed From 02-01-80 Net Financials -31 418 -44 760 -58 159 -53 046 -60 060 -56 077 -75 909 -70 647 Par Value 2,50 Par Value 6,25 Pre Tax Profit 333 028 121 492 239 099 225 447 246 913 199 385 120 189 166 983 Number of days traded 222 Number of days traded 251 Tax 18 851 6 394 12 924 79 570 20 020 -18 692 -56 932 0 Avg. Trades pr Day 6,77 Avg. Trades pr Day 819,96 Minority Interests 0 0 0 0 0 0 0 0 Net Income 314 178 115 097 226 174 145 878 226 893 218 078 177 120 166 983 Key Figures 2006 Key Figures 2006 EPS 3,62 1,33 2,61 1,68 2,63 2,56 2,04 2,00 (Preliminary figures) (Preliminary figures) Price Book 2,39 2,29 2,58 2,45 2,08 1,92 1,91 2,18 Long Term Fixed Assets 9 684 594 10 781 427 10 773 521 11 208 967 10 709 728 10 156 385 11 162 065 11 346 751 Operating result per Share 11,90 Operating result per Share 21,71 Current Assets 715 267 680 794 732 626 1 292 822 1 448 150 1 373 328 1 483 072 1 307 316 BVPS 50,62 BVPS 229,36 Cash 1 753 355 1 446 688 1 524 123 737 788 658 250 624 240 429 310 1 032 092 Gross Margin 1,49 Gross Margin 0,50 Total Assets 12 153 216 12 908 909 13 030 270 13 239 577 12 816 128 12 153 953 13 074 447 13 686 159 EBITDA Margin 0,25 EBITDA Margin 0,12 Total Equity 4 570 116 4 595 362 4 807 856 4 683 940 4 476 100 4 244 832 4 546 785 4 428 611 EBITDA 1 763 995 EBITDA 6 495 000 Long term debt 5 766 448 6 244 979 6 194 611 6 376 115 6 273 123 5 949 007 6 140 437 7 393 528 EBITA 1 002 292 EBITA 4 696 000 Short term debt 1 386 226 1 551 426 1 497 958 1 712 481 1 592 965 1 510 661 1 905 877 1 601 306 Net Margin 0,15 Net Margin 0,21 Total Liability and Equity 12 153 216 12 908 909 13 030 270 13 239 577 12 816 128 12 153 953 13 080 952 13 692 414 ROE 9,32 ROE 15,34 Net Interestbearing Debt 4 601 765 5 459 447 5 370 407 5 638 327 6 292 870 5 967 734 6 849 449 7 062 008 Chg Operating Activities 251 342 409 235 284 333 377 956 273 606 224 309 284 658 276 164 Chg Investing activities -12 567 -959 145 -142 167 -537 095 -140 140 -560 772 -272 006 -500 949 Chg Financing activities 18 851 204 618 -71 083 -106 093 -200 200 162 001 -63 257 860 605 Chg Cash and Liquids 257 626 -351 687 71 083 -265 232 -60 060 -168 231 -50 606 642 243

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 90 Share Price Company: Odim ASA 200,0 Ticker: ODIM 150,0 100,0 Company Presentation: ODIM ASA is a fast-expanding Norwegian technology 50,0 company which develops and sells advanced automation solutions, primarily cable-handling systems and winches for offshore and naval vessels. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003399909 (All figures are in NOK ‘ 000) Isin NO0010176852 Round Lot 100,00 Revenue 78 103 127 402 192 984 216 600 199 500 269 600 Round Lot 100,00 Reg.Share Capital (mill) 164 225,61 Other Income 0 84 0 0 0 0 Reg.Share Capital (mill) 22 111,82 Number of Shares 65 690,24 Operating Costs 69 714 116 876 165 376 191 900 174 800 223 000 Number of Shares 11 055,91 Currency NOK EBITDA 8 389 10 610 27 608 24 700 24 700 46 600 Currency NOK Gics 20 Depreciation 550 797 3 218 3 500 3 700 6 700 Gics 20 Listed From 05-05-86 EBIT 7 839 9 813 24 390 21 200 21 000 39 900 Listed From 18-11-05 Par Value 2,50 Net Financials -659 -2 474 564 2 000 -100 600 Par Value 2,00 Number of days traded 221 Pre Tax Profit 7 180 7 339 24 954 23 200 20 900 40 500 Number of days traded 248 Avg. Trades pr Day 11,12 Tax -1 929 1 258 -7 100 -6 300 6 000 11 000 Avg. Trades pr Day 26,50 Minority Interests 0 0 0 0 0 1 500 Key Figures 2006 Net Income 9 109 6 081 32 054 29 500 14 900 28 000 Key Figures 2006 (Preliminary figures) EPS 1,04 0,61 2,90 2,67 1,35 2,50 (Preliminary figures) Price Book 0,00 3,27 5,03 5,87 6,61 8,25 Operating result per Share 11,90 Long Term Fixed Assets 27 987 72 677 127 716 111 600 106 300 133 600 Operating result per Share 9,53 BVPS 50,62 Current Assets 113 189 164 514 196 979 222 700 234 900 306 000 BVPS 21,58 Gross Margin 1,49 Cash 10 195 50 819 52 671 113 500 141 900 226 400 Gross Margin 0,42 EBITDA Margin 0,25 Total Assets 151 371 288 010 377 366 447 800 483 100 666 000 EBITDA Margin 0,14 EBITDA 1 763 995 Total Equity 51 839 133 638 165 981 198 000 215 800 241 800 EBITDA 123 600 EBITA 1 002 292 Long term debt 37 337 35 447 33 867 34 200 33 500 36 200 EBITA 106 500 Net Margin 0,15 Short term debt 60 034 115 117 171 800 210 000 228 200 381 700 Net Margin 0,12 ROE 9,32 Total Liability and Equity 151 371 288 010 377 366 447 900 483 300 666 000 ROE 32,85 Net Interestbearing Debt 27 142 -14 886 -12 430 -73 600 -108 400 -183 400 Chg Operating Activities 14 713 11 836 42 641 77 000 107 700 230 600 Chg Investing activities -17 578 -23 021 -38 551 -1 400 -3 600 -45 100 Chg Financing activities 3 425 52 369 -2 238 -13 000 -13 000 -9 900 Chg Cash and Liquids 560 41 184 1 852 62 600 91 100 175 600 Share Price Company: Orkla ASA 400,0 Ticker: ORK 300,0 200,0 Company Presentation: Orkla operates in Branded Consumer Goods (Orkla Foods and Orkla Brands), Speciality Materials (Elkem, Sapa and Borregaard) 100,0 and Financial Investment. The Group has 30 000 employees and 77 % om its revenues outside Norway. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003399917 (All figures are in NOK ‘ 000) Isin NO0003733800 Round Lot 100,00 Revenue 13 273 000 14 043 000 13 157 000 14 831 000 14 530 000 12 954 000 12 651 000 14 580 000 Round Lot 20,00 Reg.Share Capital (mill) 52 696,76 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 301 788,71 Number of Shares 21 078,70 Operating Costs 11 620 000 12 502 000 11 537 000 13 003 000 12 786 000 11 469 000 10 984 000 12 853 000 Number of Shares 208 286,19 Currency NOK EBITDA 1 653 000 1 541 000 1 620 000 1 828 000 1 744 000 1 485 000 1 667 000 1 727 000 Currency NOK Gics 20 Depreciation 574 000 613 000 580 000 618 000 574 000 495 000 500 000 520 000 Gics 20 Listed From 11-05-89 EBIT 1 079 000 928 000 1 040 000 1 210 000 1 170 000 990 000 1 167 000 1 207 000 Listed From 02-01-80 Par Value 2,50 Net Financials 608 000 1 053 000 796 000 492 000 1 040 000 961 000 294 000 1 758 000 Par Value 6,25 Number of days traded 222 Pre Tax Profit 1 687 000 1 981 000 1 836 000 1 702 000 2 210 000 2 045 000 5 463 000 2 930 000 Number of days traded 251 Avg. Trades pr Day 6,77 Tax 388 000 419 000 294 000 61 000 442 000 346 000 222 000 345 000 Avg. Trades pr Day 819,96 Minority Interests 162 000 32 000 33 000 19 000 0 5 000 9 000 17 000 Key Figures 2006 Net Income 1 137 000 1 530 000 1 509 000 1 622 000 1 768 000 1 694 000 5 232 000 2 568 000 Key Figures 2006 (Preliminary figures) EPS 5,52 7,43 7,32 7,87 8,57 8,19 25,36 12,47 (Preliminary figures) Price Book 1,46 1,53 1,45 1,57 1,70 1,57 1,46 1,54 Operating result per Share 11,90 Long Term Fixed Assets 40 590 000 36 650 000 37 703 000 38 618 000 39 543 000 37 828 000 39 206 000 42 053 000 Operating result per Share 21,71 BVPS 50,62 Current Assets 30 529 000 31 008 000 31 984 000 33 580 000 34 687 000 35 874 000 41 746 000 35 658 000 BVPS 229,36 Gross Margin 1,49 Cash 2 235 000 1 998 000 2 821 000 2 411 000 2 417 000 1 464 000 2 402 000 1 788 000 Gross Margin 0,50 EBITDA Margin 0,25 Total Assets 73 354 000 69 656 000 72 508 000 74 609 000 76 647 000 75 166 000 83 354 000 79 499 000 EBITDA Margin 0,12 EBITDA 1 763 995 Total Equity 34 985 000 34 048 000 36 376 000 37 923 000 40 474 000 38 556 000 44 654 000 48 109 000 EBITDA 6 495 000 EBITA 1 002 292 Long term debt 12 843 000 12 000 000 14 096 000 13 045 000 13 737 000 15 178 000 11 187 000 10 849 000 EBITA 4 696 000 Net Margin 0,15 Short term debt 19 174 000 17 472 000 16 018 000 17 842 000 16 801 000 16 083 000 22 120 000 15 346 000 Net Margin 0,21 ROE 9,32 Total Liability and Equity 73 354 000 69 656 000 72 508 000 74 609 000 76 647 000 75 166 000 83 354 000 79 612 000 ROE 15,34 Net Interestbearing Debt 13 313 000 17 050 000 16 935 000 10 634 000 15 500 000 18 804 000 19 987 000 12 613 000 Chg Operating Activities 788 000 1 225 000 1 696 000 1 875 000 658 000 1 307 000 1 158 000 1 601 000 Chg Investing activities -10 740 000 -559 000 -656 000 -307 000 -533 000 -2 270 000 -1 379 000 6 327 000 Chg Financing activities -84 000 -19 229 000 -169 000 -37 000 4 000 -1 347 000 -522 000 7 000 Chg Cash and Liquids -10 013 000 -18 063 000 927 000 1 531 000 129 000 -2 310 000 -1 169 000 8 010 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 91 Share Price Company: SAS Group AB 120,0

Ticker: SAS 80,0

Company Presentation: SAS AB is the Nordic region`s largest listed airline 40,0 and travel group and the fourth-largest airline group in Europe, in terms of number of passangers and operating revenue. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin SE0000805574 Isin LU0081746793 Revenue 11 820 107 13 995 835 13 942 034 14 056 428 12 409 659 15 093 211 15 748 661 13 723 725 Round Lot 100,00 Round Lot 50,00 Other Income 38 141 39 322 0 394 412 23 160 39 595 0 29 879 Reg.Share Capital (mill) 257 664,33 Reg.Share Capital (mill) 66 081,46 Operating Costs 12 280 524 12 748 907 12 874 943 13 480 776 12 986 094 13 919 687 14 353 244 12 692 431 Number of Shares 25 766,43 Number of Shares 66 081,46 EBITDA -422 276 1 286 250 1 067 091 970 064 -553 275 1 213 118 1 395 418 1 061 173 Currency SEK Currency USD Depreciation 529 435 492 830 465 380 503 156 448 625 470 926 442 726 478 071 Gics 20 Gics 20 EBIT -951 711 793 421 601 712 466 908 -1 001 900 742 192 952 691 583 102 Listed From 21-02-97 Listed From 07-03-01 Net Financials -219 765 -313 698 -137 173 -83 715 -187 856 -200 501 -172 899 -247 185 Par Value 10,00 Par Value 1,00 Pre Tax Profit -1 171 476 515 549 458 647 494 525 -1 189 756 541 691 779 792 4 335 238 Number of days traded 249 Number of days traded 251 Tax -289 691 79 517 13 465 323 642 -277 066 75 820 252 363 127 667 Avg. Trades pr Day 13,22 Avg. Trades pr Day 310,06 Minority Interests -6 357 3 495 0 46 604 -25 734 53 916 39 295 35 312 Net Income -875 429 432 537 445 182 124 279 -886 956 411 955 488 134 4 172 259 Key Figures 2006 Key Figures 2006 EPS 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 (Preliminary figures) (Preliminary figures) Price Book 0,97 0,88 1,06 1,39 1,58 1,03 1,31 1,14 Long Term Fixed Assets 34 516 953 33 423 200 32 749 365 30 991 370 30 555 571 30 178 388 30 615 300 28 419 417 Operating result per Share 6,42 Operating result per Share 17,57 Current Assets 9 910 195 11 132 389 11 491 628 10 965 497 10 724 736 10 459 184 10 826 280 8 357 526 BVPS 579,54 BVPS 107,05 Cash 6 873 953 7 289 464 7 060 856 7 385 742 7 488 307 7 446 671 7 389 380 9 843 694 Gross Margin 1,00 Gross Margin 0,24 Total Assets 51 301 100 51 845 053 51 301 849 49 342 608 48 768 614 48 084 243 48 830 960 46 620 637 EBITDA Margin 0,05 EBITDA Margin 0,17 Total Equity 10 711 663 10 440 394 11 042 300 10 274 891 9 433 882 10 144 790 10 723 342 14 932 746 EBITDA 2 765 499 EBITDA 1 717 125 Long term debt 18 007 440 16 267 766 15 790 642 0 19 350 989 17 396 468 17 046 954 16 262 186 EBITA 1 056 424 EBITA 1 093 269 Short term debt 18 361 953 21 187 314 20 439 320 18 989 114 19 983 744 20 542 985 21 060 664 15 425 705 Net Margin 0,08 Net Margin 0,12 Total Liability and Equity 51 301 100 51 845 053 51 301 849 49 342 608 48 768 614 48 084 243 48 830 960 46 620 637 ROE 19,18 ROE Net Interestbearing Debt 11 133 488 8 978 302 8 729 786 -7 385 742 11 862 682 9 949 797 9 657 574 6 418 493 Chg Operating Activities -929 008 1 436 546 -254 991 881 170 -32 596 1 154 147 358 897 1 119 121 Chg Investing activities -145 299 27 088 632 849 426 345 223 026 1 331 060 224 420 5 324 881 Chg Financing activities 214 317 -608 173 -631 166 -1 032 203 -33 454 -1 486 070 -880 214 -4 189 462 Chg Cash and Liquids -850 002 892 161 -253 308 279 627 154 402 999 138 -298 644 2 241 865 Share Price Company: Simrad Optronics ASA 10,0 Ticker: SIT 8,0 6,0 4,0 Company Presentation: Simrad Optronics is a global niche supplier of night vision and laser products for military and law enforcement. 2,0 0 Period Jul 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005396200 Isin NO0003390007 Revenue 36 608 51 502 69 214 79 192 52 120 63 621 52 700 56 653 Round Lot 1 000,00 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 27 201,90 Reg.Share Capital (mill) 123 264,19 Operating Costs 36 950 48 941 61 805 77 147 54 718 65 140 51 200 75 528 Number of Shares 40 944,75 Number of Shares 24 652,84 EBITDA -342 2 561 7 409 2 045 -2 598 -1 519 1 500 -18 875 Currency NOK Currency NOK Depreciation 1 360 1 646 1 909 474 2 306 2 363 2 100 -915 Gics 20 Gics 20 EBIT -1 702 915 5 500 1 571 -4 904 -3 882 -600 -17 960 Listed From 07-07-05 Listed From 02-01-80 Net Financials -186 4 654 -875 -3 085 -927 -1 793 -2 100 -3 271 Par Value 0,66 Par Value 5,00 Pre Tax Profit -1 888 5 569 4 625 -1 514 -5 831 -5 675 -2 700 -21 231 Number of days traded 250 Number of days traded 114 Tax -528 1 805 1 527 -484 -1 163 -1 451 -700 -4 617 Avg. Trades pr Day 60,68 Avg. Trades pr Day 2,25 Minority Interests 0 0 0 0 0 0 0 0 Net Income -1 360 3 764 3 098 -1 030 -4 668 -4 224 -2 000 -16 614 Key Figures 2006 Key Figures 2006 EPS -0,51 1,42 0,08 -0,03 -0,12 -0,10 -0,05 -0,38 (Preliminary figures) (Preliminary figures) Price Book 0,00 0,00 1,74 1,91 1,91 3,32 4,24 6,03 Long Term Fixed Assets 22 160 38 139 45 126 57 564 58 146 57 847 48 100 68 959 Operating result per Share -0,67 Operating result per Share 1,36 Current Assets 129 377 155 215 177 050 206 545 464 176 206 997 225 300 194 389 BVPS 1,45 BVPS 23,83 Cash 34 545 1 537 3 479 2 009 2 934 2 471 600 3 446 Gross Margin 1,00 Gross Margin 1,00 Total Assets 186 082 194 891 225 655 266 118 525 256 267 315 274 000 266 794 EBITDA Margin -0,10 EBITDA Margin 0,62 Total Equity 72 201 78 968 82 048 80 469 75 841 77 602 75 300 59 312 EBITDA -21 520 EBITDA 33 000 Long term debt 0 0 12 000 171 497 30 000 39 306 17 900 42 773 EBITA -27 372 EBITA 33 000 Short term debt 105 324 106 921 121 393 0 134 445 136 493 172 700 164 709 Net Margin -0,12 Net Margin 1,69 Total Liability and Equity 186 082 194 891 225 655 266 118 255 256 267 315 274 100 266 794 ROE -22,94 ROE 9,48 Net Interestbearing Debt -34 545 -1 537 8 521 169 488 45 972 36 835 54 300 77 812 Chg Operating Activities -19 255 -22 552 -50 975 -49 248 -236 -25 501 -30 500 -16 919 Chg Investing activities -2 197 -11 248 -20 145 -29 145 -1 716 -3 173 -10 300 -17 341 Chg Financing activities -740 -21 660 17 602 23 405 2 844 29 102 41 300 35 663 Chg Cash and Liquids -22 192 -55 460 -53 518 -54 988 892 428 500 1 403

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 92 Share Price Company: Stolt-Nielsen S.A. 300,0

Ticker: SNI 200,0

Company Presentation: SNI; through Stolt-Nielsen Transportation Group and 100,0 Stolt Sea Farm is engaged in transportation, and fish farming and processing. 0 Period Jan 05 Dec 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin SE0000805574 (All figures are in NOK ‘ 000) Isin LU0081746793 Round Lot 100,00 Revenue 2 901 235 2 790 728 2 469 679 2 349 233 2 564 075 2 440 627 2 483 510 2 635 161 Round Lot 50,00 Reg.Share Capital (mill) 257 664,33 Other Income 22 091 27 435 18 972 6 623 32 429 45 123 38 511 33 109 Reg.Share Capital (mill) 66 081,46 Number of Shares 25 766,43 Operating Costs 2 627 758 2 555 656 2 149 163 2 098 887 2 247 939 2 195 240 2 356 964 2 219 162 Number of Shares 66 081,46 Currency SEK EBITDA 295 569 262 507 339 489 256 969 348 565 290 511 165 058 449 108 Currency USD Gics 20 Depreciation 0 0 0 0 0 0 0 161 640 Gics 20 Listed From 21-02-97 EBIT 295 569 262 507 339 489 256 969 348 565 290 511 165 058 287 468 Listed From 07-03-01 Par Value 10,00 Net Financials -107 644 -152 401 -35 944 -24 649 -64 368 -9 471 -40 676 -42 837 Par Value 1,00 Number of days traded 249 Pre Tax Profit 2 423 960 109 363 374 249 293 536 333 809 372 633 244 807 371 044 Number of days traded 251 Avg. Trades pr Day 13,22 Tax 37 351 73 217 32 381 -76 546 12 410 14 917 15 119 -5 838 Avg. Trades pr Day 310,06 Minority Interests 125 -6 116 117 161 125 112 143 Key Figures 2006 Net Income 2 386 484 36 152 341 752 369 965 321 239 357 592 229 576 376 739 Key Figures 2006 (Preliminary figures) EPS 38,17 0,56 5,22 5,73 5,01 0,00 3,76 6,23 (Preliminary figures) Price Book 1,95 1,69 1,80 1,75 1,71 1,36 1,40 1,76 Operating result per Share 6,42 Long Term Fixed Assets 10 854 143 12 414 923 13 066 937 13 533 121 13 166 473 12 768 835 13 434 407 13 906 223 Operating result per Share 17,57 BVPS 579,54 Current Assets 2 824 061 1 322 097 1 375 048 1 433 989 1 428 931 1 454 710 1 488 307 1 341 063 BVPS 107,05 Gross Margin 1,00 Cash 1 705 851 315 813 224 981 200 402 213 592 824 740 621 731 275 307 Gross Margin 0,24 EBITDA Margin 0,05 Total Assets 15 384 054 14 052 833 14 666 967 15 167 512 14 808 996 15 048 285 15 544 446 15 522 593 EBITDA Margin 0,17 EBITDA 2 765 499 Total Equity 7 953 698 8 364 348 8 172 853 8 306 924 8 119 467 7 106 798 7 321 341 7 069 929 EBITDA 1 717 125 EBITA 1 056 424 Long term debt 2 497 351 2 427 865 2 492 997 3 689 098 2 942 751 2 684 788 2 702 787 2 591 328 EBITA 1 093 269 Net Margin 0,08 Short term debt 4 177 184 2 527 959 3 224 021 3 171 489 3 059 784 4 662 130 4 921 202 5 502 896 Net Margin 0,12 ROE 19,18 Total Liability and Equity 15 384 054 14 052 833 14 666 967 15 167 512 14 808 996 15 048 285 15 544 446 15 522 593 ROE Net Interestbearing Debt 3 081 630 3 015 447 3 878 762 3 488 697 3 104 137 2 207 188 3 088 928 3 626 925 Chg Operating Activities 0 0 0 0 0 0 0 0 Chg Investing activities 0 0 0 0 0 0 0 0 Chg Financing activities 0 0 0 0 0 0 0 0 Chg Cash and Liquids 0 0 0 0 0 0 0 0 Share Price Company: Solvang ASA 35,0

Ticker: SOLV 25,0

Company Presentation: Solvang is a shipping company based in Stavanger 15,0 focused on LPG. The company has a history dating back to 1936. We currently operate and part owns 12 LPG carriers and one car carrier. The company has 5,0 Period 9 new building LPG carriers on order for delivery in 2007 and 2009. Jan 05 Dec 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0005396200 (All figures are in NOK ‘ 000) Isin NO0003390007 Round Lot 1 000,00 Revenue 5 200 5 000 5 100 5 400 5 500 5 600 5 600 5 600 Round Lot 200,00 Reg.Share Capital (mill) 27 201,90 Other Income 0 0 0 0 12 200 7 000 6 900 5 200 Reg.Share Capital (mill) 123 264,19 Number of Shares 40 944,75 Operating Costs 4 900 3 000 4 800 4 100 4 200 4 400 4 800 7 200 Number of Shares 24 652,84 Currency NOK EBITDA 300 2 000 300 1 300 13 500 8 200 7 700 3 600 Currency NOK Gics 20 Depreciation 0 0 0 0 0 0 0 0 Gics 20 Listed From 07-07-05 EBIT 300 2 000 300 1 300 13 500 8 200 7 700 3 600 Listed From 02-01-80 Par Value 0,66 Net Financials 24 000 25 000 31 900 27 600 27 300 -17 800 8 200 44 800 Par Value 5,00 Number of days traded 250 Pre Tax Profit 24 300 27 000 32 200 28 900 40 800 -9 600 15 900 48 400 Number of days traded 114 Avg. Trades pr Day 60,68 Tax 400 1 200 2 900 2 500 2 000 600 3 200 -900 Avg. Trades pr Day 2,25 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 23 900 25 800 29 300 26 400 38 800 -10 200 12 700 49 300 Key Figures 2006 (Preliminary figures) EPS 0,99 1,07 1,21 1,09 1,60 -0,42 0,52 2,04 (Preliminary figures) Price Book 1,50 1,33 1,39 1,35 1,37 1,50 1,37 1,31 Operating result per Share -0,67 Long Term Fixed Assets 253 900 260 800 273 100 294 200 283 400 295 600 316 600 327 700 Operating result per Share 1,36 BVPS 1,45 Current Assets 197 800 225 100 245 200 277 600 311 800 287 500 272 200 296 500 BVPS 23,83 Gross Margin 1,00 Cash 67 600 52 300 52 200 32 400 17 900 20 400 28 800 25 100 Gross Margin 1,00 EBITDA Margin -0,10 Total Assets 519 300 538 200 570 500 604 200 613 100 603 500 617 600 649 300 EBITDA Margin 0,62 EBITDA -21 520 Total Equity 469 500 483 100 512 500 538 900 557 300 524 700 541 800 587 600 EBITDA 33 000 EBITA -27 372 Long term debt 0 0 0 0 0 0 0 0 EBITA 33 000 Net Margin -0,12 Short term debt 8 500 12 700 12 800 17 600 14 900 39 800 34 200 13 800 Net Margin 1,69 ROE -22,94 Total Liability and Equity 519 300 538 200 570 500 604 200 613 100 603 500 617 700 649 400 ROE 9,48 Net Interestbearing Debt -67 600 -52 300 -52 200 -32 400 -17 900 -20 400 -28 800 -25 100 Chg Operating Activities 300 2 100 2 500 4 000 1 300 2 500 3 300 4 600 Chg Investing activities 11 700 4 900 5 100 -10 900 4 600 -2 100 -17 500 7 300 Chg Financing activities 4 600 -5 600 -6 400 -11 700 -18 800 -10 300 12 100 -17 000 Chg Cash and Liquids 16 600 1 400 1 200 -18 600 -14 400 -11 900 -3 500 -7 400

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 93 Share Price Company: Star Reefers Inc. 180,0

Ticker: SRI 120,0

Company Presentation: STAR Reefers is one of the leading global reefer 60,0 operators and owners directly controlling 40 vessels including 2 newbuildings on order totalling over 21 million cbft. 0 Period Jan 05 Dec 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin KYG8557Q1055 Isin NO0010176324 Revenue 327 160 376 132 368 806 359 031 347 193 350 383 362 875 353 645 Round Lot 100,00 Round Lot 1 000,00 Other Income -836 2 219 0 0 0 -1 464 -13 -347 Reg.Share Capital (mill) 87,22 Reg.Share Capital (mill) 1 181,82 Operating Costs 184 912 182 506 171 052 153 125 118 919 173 472 177 614 187 612 Number of Shares 8 721,82 Number of Shares 23 636,36 EBITDA 90 716 91 151 39 665 77 879 185 345 102 260 70 475 87 473 Currency USD Currency NOK Depreciation 11 078 11 228 14 940 21 152 22 496 21 029 21 362 22 125 Gics 20 Gics 20 EBIT 79 638 79 922 24 724 56 726 162 849 81 231 49 113 65 348 Listed From 06-04-01 Listed From 22-06-04 Net Financials -4 204 -5 294 2 410 -16 577 -13 854 -11 110 -12 228 -12 973 Par Value 0,01 Par Value 0,05 Pre Tax Profit 75 434 74 628 27 134 23 884 148 995 70 121 36 885 52 375 Number of days traded 200 Number of days traded 187 Tax 0 0 0 1 558 460 492 487 -2 081 Avg. Trades pr Day 6,80 Avg. Trades pr Day 5,79 Minority Interests 0 0 0 0 0 0 0 0 Net Income 75 434 74 628 27 134 22 326 148 535 69 629 36 398 54 456 Key Figures 2006 Key Figures 2006 EPS 8,92 8,60 3,13 2,57 17,09 7,99 4,18 6,24 (Preliminary figures) (Preliminary figures) Price Book 2,03 1,73 1,78 1,59 1,39 1,17 1,16 1,48 Long Term Fixed Assets 1 053 500 1 082 038 1 826 357 1 875 573 1 790 131 1 685 348 1 725 860 1 819 121 Operating result per Share 33,36 Operating result per Share 1,06 Current Assets 99 777 119 669 251 847 118 060 92 504 130 872 139 207 111 172 BVPS 114,03 BVPS 1,76 Cash 140 287 175 278 122 754 119 346 198 015 184 425 129 645 70 351 Gross Margin 1,28 Gross Margin 0,41 Total Assets 1 293 564 1 376 985 2 200 958 2 112 978 2 080 649 2 000 646 1 994 712 2 000 644 EBITDA Margin 0,27 EBITDA Margin 0,20 Total Equity 638 886 737 307 764 632 814 417 875 354 899 886 975 341 994 523 EBITDA 378 269 EBITDA 29 858 Long term debt 494 706 468 760 968 538 215 962 887 762 736 135 686 565 686 278 EBITA 291 246 EBITA 24 981 Short term debt 159 973 170 919 467 788 165 623 317 533 364 625 332 806 319 842 Net Margin 0,22 Net Margin 0,12 Total Liability and Equity 1 293 564 1 376 985 2 200 958 2 112 978 2 080 649 2 000 646 1 994 712 2 000 644 ROE ROE 29,64 Net Interestbearing Debt 394 093 336 326 1 147 926 96 616 858 799 706 621 718 340 776 571 Chg Operating Activities 89 384 71 917 42 101 48 000 122 495 108 129 17 510 100 248 Chg Investing activities 0 -2 334 -842 118 122 524 -407 -324 -44 -191 793 Chg Financing activities -85 406 -40 086 748 256 -178 044 -39 006 -111 157 -78 274 35 773 Chg Cash and Liquids 3 977 29 497 -51 762 -7 519 83 083 -3 352 -60 809 -55 772 Share Price Company: Stepstone ASA 16,0 Ticker: STP 12,0 8,0 Company Presentation: Europe’s Total Talent Management Company. 4,0

0 Period Jan 05 Dec 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010010473 Isin NO0003194201 Revenue 54 347 56 890 70 107 79 364 86 495 95 648 107 849 128 385 Round Lot 500,00 Round Lot 20,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 47 161,15 Reg.Share Capital (mill) 27 176,84 Operating Costs 59 818 59 641 69 958 77 686 82 653 90 556 99 297 121 090 Number of Shares 117 902,87 Number of Shares 1 358,84 EBITDA -5 471 -2 752 150 1 678 3 843 5 091 8 552 7 295 Currency NOK Currency NOK Depreciation 1 986 2 325 3 295 2 458 2 359 2 084 4 925 7 246 Gics 20 Gics 20 EBIT -7 457 -5 077 -3 145 -780 1 484 3 008 3 627 50 Listed From 14-03-00 Listed From 01-04-92 Net Financials -264 -56 -906 -2 088 -634 -1 277 -1 757 -69 701 Par Value 0,40 Par Value 20,00 Pre Tax Profit -7 720 -5 133 -4 051 -2 868 850 1 731 1 870 -69 652 Number of days traded 246 Number of days traded 133 Tax 0 0 1 159 -3 128 562 564 1 459 -37 543 Avg. Trades pr Day 33,62 Avg. Trades pr Day 2,94 Minority Interests 0 0 0 0 0 0 0 0 Net Income -7 720 -5 133 -5 210 260 289 1 167 411 -32 109 Key Figures 2006 Key Figures 2006 EPS -0,11 -0,06 -0,06 0,00 0,00 0,01 0,00 -0,29 (Preliminary figures) (Preliminary figures) Price Book 4,12 4,06 4,92 3,86 4,30 3,40 3,45 3,95 Long Term Fixed Assets 67 420 127 819 243 533 235 222 237 463 241 850 285 186 321 999 Operating result per Share 0,08 Operating result per Share 49,59 Current Assets 82 626 81 055 98 407 120 789 114 119 118 857 135 383 159 496 BVPS 3,92 BVPS 387,39 Cash 133 618 121 107 95 839 149 719 161 318 157 165 252 419 409 297 Gross Margin 1,00 Gross Margin 1,00 Total Assets 283 665 329 981 437 780 505 730 512 900 517 872 672 989 890 791 EBITDA Margin 0,06 EBITDA Margin 0,11 Total Equity 139 133 130 717 170 860 237 825 261 342 265 261 297 094 462 481 EBITDA 24 732 EBITDA 188 530 Long term debt 21 582 21 396 0 82 980 0 23 903 25 487 188 238 EBITA 8 252 EBITA 53 591 Short term debt 117 223 112 416 169 899 184 925 190 248 190 662 225 235 240 072 Net Margin -0,07 Net Margin 0,01 Total Liability and Equity 283 665 329 981 437 780 505 730 512 900 517 872 672 989 890 791 ROE -4,87 ROE 3,01 Net Interestbearing Debt -112 037 -99 712 -95 839 -66 739 -161 318 -133 261 -226 932 -221 058 Chg Operating Activities 2 010 -5 036 -4 091 638 16 133 9 423 14 122 16 195 Chg Investing activities -2 941 -2 599 -20 500 -18 500 -3 754 -5 898 -3 732 -14 648 Chg Financing activities 50 623 -274 -102 69 728 48 110 77 727 163 521 Chg Cash and Liquids 49 692 -7 909 -24 693 51 867 12 426 3 901 87 706 165 093

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 94 Share Price Company: TECO Coating Services ASA 9,0

Ticker: TECO 6,0

Company Presentation: TECO specializes in the refurbishment of ballast and 3,0 cargo tanks onboard any class of ship while in service, thus avoiding off-hire costs as well as excessive shipyard costs for the owner. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin KYG8557Q1055 (All figures are in NOK ‘ 000) Isin NO0010176324 Round Lot 100,00 Revenue 23 954 24 376 19 704 24 781 27 003 40 206 45 774 36 873 Round Lot 1 000,00 Reg.Share Capital (mill) 87,22 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 181,82 Number of Shares 8 721,82 Operating Costs 20 557 18 294 16 604 20 666 21 852 31 925 36 644 29 577 Number of Shares 23 636,36 Currency USD EBITDA 3 397 6 082 3 100 4 115 5 151 8 281 9 130 7 296 Currency NOK Gics 20 Depreciation 673 694 698 837 754 821 894 2 407 Gics 20 Listed From 06-04-01 EBIT 2 724 5 388 2 402 3 278 4 397 7 460 8 236 4 889 Listed From 22-06-04 Par Value 0,01 Net Financials -285 159 505 -215 411 -96 -155 -611 Par Value 0,05 Number of days traded 200 Pre Tax Profit 2 439 5 547 2 907 3 063 4 808 7 364 8 081 4 278 Number of days traded 187 Avg. Trades pr Day 6,80 Tax 684 1 538 643 993 1 222 2 064 2 280 1 213 Avg. Trades pr Day 5,79 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 1 755 4 009 2 264 2 070 3 586 5 300 5 801 3 065 Key Figures 2006 (Preliminary figures) EPS 0,07 0,17 0,10 0,09 0,15 0,22 0,25 0,13 (Preliminary figures) Price Book 5,74 4,48 4,91 4,92 4,10 3,72 3,74 4,85 Operating result per Share 33,36 Long Term Fixed Assets 7 938 9 388 8 253 7 827 8 603 9 877 10 304 24 237 Operating result per Share 1,06 BVPS 114,03 Current Assets 35 040 37 633 45 671 46 267 52 106 63 754 73 012 79 765 BVPS 1,76 Gross Margin 1,28 Cash 4 647 1 293 545 3 415 1 923 7 320 3 816 3 440 Gross Margin 0,41 EBITDA Margin 0,27 Total Assets 47 625 48 314 54 469 57 509 62 632 80 951 87 132 107 442 EBITDA Margin 0,20 EBITDA 378 269 Total Equity 29 258 30 851 28 388 28 083 31 716 36 868 42 002 41 505 EBITDA 29 858 EBITA 291 246 Long term debt 2 775 2 356 1 803 1 832 0 10 000 10 000 24 648 EBITA 24 981 Net Margin 0,22 Short term debt 15 592 15 107 24 278 27 594 30 917 34 084 35 130 41 289 Net Margin 0,12 ROE Total Liability and Equity 47 625 48 314 54 469 57 509 62 633 80 952 87 132 107 442 ROE 29,64 Net Interestbearing Debt -1 872 1 063 1 258 -1 583 -1 923 2 680 6 184 21 208 Chg Operating Activities 5 241 1 139 361 3 802 -976 3 416 -951 5 193 Chg Investing activities -405 -2 082 -793 -969 701 -3 335 -1 321 -10 252 Chg Financing activities -188 -2 413 -315 37 -1 217 5 317 -1 233 4 683 Chg Cash and Liquids 4 648 -3 356 -747 2 870 -1 492 5 398 -3 505 -376 Share Price Company: Tide ASA 450,0

Ticker: TIDE 300,0

Company Presentation: Tide ASA is one of Norway’s leading privately owned 150,0 companies in the transportation-sector. It’s main activities are passenger transportation by bus and high-speed vessels and transport of cars and 0 Period passengers by ferry. Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010010473 (All figures are in NOK ‘ 000) Isin NO0003194201 Round Lot 500,00 Revenue 452 760 484 241 487 891 406 687 380 849 399 594 561 575 509 367 Round Lot 20,00 Reg.Share Capital (mill) 47 161,15 Other Income 5 613 0 344 152 497 0 -6 062 5 096 Reg.Share Capital (mill) 27 176,84 Number of Shares 117 902,87 Operating Costs 412 834 437 641 431 511 350 500 336 453 357 706 474 929 470 548 Number of Shares 1 358,84 Currency NOK EBITDA 45 539 46 600 56 724 56 339 44 893 41 888 80 584 43 915 Currency NOK Gics 20 Depreciation 41 816 33 874 32 075 32 040 31 855 32 584 46 907 48 704 Gics 20 Listed From 14-03-00 EBIT 3 723 12 726 24 649 24 299 13 038 9 304 33 677 -4 789 Listed From 01-04-92 Par Value 0,40 Net Financials -4 315 -3 435 -3 422 -6 442 -4 018 -2 610 -4 662 -5 704 Par Value 20,00 Number of days traded 246 Pre Tax Profit -592 15 238 21 227 41 448 9 020 6 694 29 015 -10 493 Number of days traded 133 Avg. Trades pr Day 33,62 Tax -166 4 267 6 083 6 213 2 524 1 876 8 124 -2 821 Avg. Trades pr Day 2,94 Minority Interests 877 465 676 63 63 Key Figures 2006 Net Income -1 303 10 506 15 144 35 235 5 820 4 818 20 828 -7 735 Key Figures 2006 (Preliminary figures) EPS -1,58 12,70 18,31 42,61 7,04 5,83 25,19 -6,84 (Preliminary figures) Price Book 1,16 1,19 0,90 1,09 1,02 1,13 0,61 1,07 Operating result per Share 0,08 Long Term Fixed Assets 761 515 747 481 721 093 761 773 797 738 797 859 1 289 287 1 423 838 Operating result per Share 49,59 BVPS 3,92 Current Assets 126 553 137 938 155 656 161 244 129 173 163 726 203 292 190 560 BVPS 387,39 Gross Margin 1,00 Cash 40 877 59 822 87 000 152 269 142 912 94 236 198 344 266 638 Gross Margin 1,00 EBITDA Margin 0,06 Total Assets 928 945 945 241 963 749 1 075 286 1 069 823 1 055 821 1 690 923 1 881 036 EBITDA Margin 0,11 EBITDA 24 732 Total Equity 169 302 176 459 194 011 256 500 269 403 271 508 578 688 526 171 EBITDA 188 530 EBITA 8 252 Long term debt 409 720 377 093 391 136 316 911 485 349 363 114 461 735 535 881 EBITA 53 591 Net Margin -0,07 Short term debt 295 237 337 096 320 602 454 123 271 587 377 772 488 787 575 993 Net Margin 0,01 ROE -4,87 Total Liability and Equity 928 945 945 241 963 749 1 075 286 1 069 823 1 055 821 1 690 923 1 881 036 ROE 3,01 Net Interestbearing Debt 368 843 317 271 304 136 164 642 342 437 268 878 263 391 269 243 Chg Operating Activities 14 985 69 328 15 687 90 775 -3 784 43 874 0 91 436 Chg Investing activities -20 311 -14 346 -9 356 -27 966 -57 687 -36 993 0 -124 004 Chg Financing activities -15 656 -36 037 20 847 2 460 52 114 -55 557 0 190 528 Chg Cash and Liquids -20 982 18 945 27 178 65 269 -9 357 -48 676 0 157 960

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 95 Share Price Company: Tomra Systems ASA 70,0

Ticker: TOM 50,0

Company Presentation: TOMRA is a leading global provider of advanced 30,0 solutions enabling recovery and recycling of used materials. 10,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005668905 Revenue 599 200 686 700 701 300 675 100 822 400 1 020 400 1 068 000 1 054 200 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 173 641,86 Operating Costs 552 700 643 900 593 500 548 700 656 900 776 700 833 800 869 100 Number of Shares 173 641,86 EBITDA 46 500 42 800 107 800 126 400 165 500 243 700 234 200 185 100 Currency NOK Depreciation 36 300 137 600 35 300 47 700 42 100 41 000 40 100 50 300 Gics 20 EBIT 10 200 -94 800 72 500 78 700 123 400 202 700 194 100 134 800 Listed From 18-01-85 Net Financials 3 300 2 800 3 300 5 000 2 000 700 -4 800 3 300 Par Value 1,00 Pre Tax Profit 13 500 -92 000 75 800 83 700 125 400 203 400 189 300 138 100 Number of days traded 251 Tax 4 600 1 400 25 800 27 300 41 400 67 100 62 500 45 300 Avg. Trades pr Day 689,78 Minority Interests 1 400 4 900 5 800 1 500 1 700 4 300 3 800 2 900 Net Income 7 500 -98 300 44 200 54 900 82 300 132 000 123 000 89 900 Key Figures 2006 EPS 0,04 -0,55 0,25 0,31 0,47 0,74 0,71 0,54 (Preliminary figures) Price Book 1,89 2,08 3,58 3,98 4,45 4,26 3,19 3,79 Long Term Fixed Assets 1 641 300 1 482 200 1 467 100 1 496 500 1 484 700 1 550 300 1 613 500 1 526 600 Operating result per Share 3,81 Current Assets 962 800 1 187 900 1 035 100 1 005 700 1 232 200 1 633 900 1 640 300 1 497 100 BVPS 11,35 Cash 766 100 426 500 572 100 491 400 370 100 128 400 15 100 286 400 Gross Margin 0,50 Total Assets 3 370 200 3 096 600 3 074 300 2 993 600 3 087 000 3 312 600 3 268 900 3 310 100 EBITDA Margin 0,21 Total Equity 2 737 700 2 392 500 2 404 900 2 241 100 2 182 300 2 199 400 2 249 900 2 037 400 EBITDA 828 400 Long term debt 59 800 58 600 50 300 27 800 22 600 16 200 15 000 372 300 EBITA 655 000 Short term debt 562 000 635 400 611 000 706 700 862 500 1 078 900 985 200 880 600 Net Margin 0,11 Total Liability and Equity 3 370 200 3 096 600 3 074 300 2 993 600 3 087 000 3 312 600 3 268 900 3 310 100 ROE 12,12 Net Interestbearing Debt -703 000 -367 100 -516 800 -463 600 -325 400 -63 700 8 000 93 700 Chg Operating Activities 1 400 43 900 66 300 130 900 36 000 -64 600 121 000 253 700 Chg Investing activities -211 700 -34 100 83 500 -14 200 -25 900 -137 700 -70 500 -18 300 Chg Financing activities -9 300 -350 100 -700 -206 100 -125 400 -34 500 -176 700 36 300 Chg Cash and Liquids -216 900 -339 600 145 600 -89 400 -115 300 -241 700 -113 300 271 700 Share Price Company: TTS Marine ASA 80,0 Ticker: TTS 60,0 40,0 Company Presentation: TTS is a global company that develops and supplies equipment for the maritime industry, organised in four divisions: Marine 20,0 Cranes, Dry Cargo Handling, Deck Machinery and Port & Material Handling. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003049405 Revenue 248 883 253 745 256 963 347 533 386 874 769 701 387 442 436 573 Round Lot 100,00 Other Income 1 371 527 -277 -249 571 2 141 1 925 6 248 Reg.Share Capital (mill) 11 246,45 Operating Costs 230 837 235 026 239 279 336 155 363 202 723 584 364 248 417 585 Number of Shares 22 492,90 EBITDA 19 417 19 246 17 407 11 129 24 243 48 258 25 119 25 236 Currency NOK Depreciation 1 422 1 160 1 325 3 657 2 270 4 555 2 296 2 065 Gics 20 EBIT 17 995 18 086 16 082 7 472 21 973 43 703 22 823 23 171 Listed From 02-05-95 Net Financials -302 -766 -971 -1 299 -3 211 -1 541 185 -3 852 Par Value 0,50 Pre Tax Profit 17 693 17 320 15 111 6 173 18 762 42 162 23 008 19 319 Number of days traded 232 Tax 5 089 4 936 3 902 2 132 5 099 10 508 5 916 7 586 Avg. Trades pr Day 15,84 Minority Interests 0 0 0 0 0 0 0 0 Net Income 12 604 12 384 11 209 4 041 13 663 31 654 17 092 11 733 Key Figures 2006 EPS 0,73 0,69 0,59 0,20 0,68 1,57 0,84 0,55 (Preliminary figures) Price Book 1,41 1,68 1,88 1,58 1,63 1,61 1,95 2,63 Long Term Fixed Assets 340 687 350 611 355 389 434 259 435 784 442 050 448 690 460 995 Operating result per Share 4,35 Current Assets 510 333 512 989 552 984 650 716 752 949 828 047 840 076 935 201 BVPS 26,59 Cash 74 266 79 440 83 323 97 811 66 486 73 504 87 054 236 934 Gross Margin 0,31 Total Assets 925 286 943 040 991 696 1 182 786 1 255 219 1 343 601 1 375 820 1 633 130 EBITDA Margin 0,06 Total Equity 305 374 321 701 388 163 394 932 407 713 428 258 451 047 598 062 EBITDA 98 613 Long term debt 54 250 59 976 57 657 58 566 53 377 51 230 86 227 174 855 EBITA 89 697 Short term debt 543 628 540 331 524 585 710 574 773 701 844 264 816 546 838 433 Net Margin 0,04 Total Liability and Equity 925 286 943 040 991 696 1 182 785 1 255 221 1 343 601 1 375 821 1 633 130 ROE 7,08 Net Interestbearing Debt -20 016 -19 464 -25 666 671 329 -13 109 -22 274 -827 -62 079 Chg Operating Activities -16 854 -39 485 -41 379 -69 233 -63 795 -57 007 -43 157 5 663 Chg Investing activities -1 005 -10 692 -16 774 -70 082 -8 891 -12 400 -15 400 -15 672 Chg Financing activities 39 150 76 652 88 502 184 152 41 360 45 100 47 800 149 132 Chg Cash and Liquids 21 291 26 475 30 349 44 837 -31 326 -24 307 -10 757 139 123

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 96 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 97 Share Price Company: Veidekke ASA 300,0

Ticker: VEI 200,0

Company Presentation: Veidekke is a leading Scandinavian construction 100,0 and property development company with about 6,400 employees. It has a dispersed ownership structure with emphasis on institutional owners. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005806802 Revenue 2 870 200 3 982 500 3 788 300 3 938 200 3 262 900 4 023 100 4 035 300 5 121 000 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 71 522,39 Operating Costs 2 834 300 3 769 500 3 487 200 3 682 500 3 205 300 3 792 900 3 728 300 4 782 200 Number of Shares 28 608,95 EBITDA 35 900 213 000 301 100 255 700 57 600 230 200 307 000 338 800 Currency NOK Depreciation 46 500 47 100 46 600 73 300 51 700 54 500 59 200 56 000 Gics 20 EBIT -10 600 165 900 254 500 182 400 5 900 175 700 247 800 282 800 Listed From 23-06-86 Net Financials 49 600 9 100 14 600 45 600 106 700 32 800 24 000 47 200 Par Value 2,50 Pre Tax Profit 39 000 175 000 269 100 228 000 112 600 208 500 271 800 330 000 Number of days traded 250 Tax 9 400 45 400 70 100 14 800 2 500 55 700 75 200 66 700 Avg. Trades pr Day 49,32 Minority Interests 2 800 2 200 0 0 0 0 0 500 Net Income 26 800 127 400 199 000 213 200 110 100 152 800 196 600 262 800 Key Figures 2006 EPS 0,94 4,45 6,96 7,39 3,83 5,34 6,87 9,22 (Preliminary figures) Price Book 2,38 2,97 3,13 3,88 4,90 4,28 3,72 3,88 Long Term Fixed Assets 2 057 000 2 094 000 2 150 000 2 009 000 2 060 200 2 184 700 2 193 700 2 280 200 Operating result per Share 24,92 Current Assets 3 353 000 3 691 000 3 937 000 4 015 000 4 071 200 4 609 600 5 144 000 5 700 500 BVPS 61,10 Cash 489 000 397 000 283 000 345 000 315 500 253 400 261 000 330 600 Gross Margin 1,00 Total Assets 5 899 000 6 182 000 6 370 000 6 369 000 6 446 900 7 047 700 7 598 700 8 311 300 EBITDA Margin 0,06 Total Equity 1 559 000 1 491 000 1 686 000 1 471 000 1 563 000 1 428 400 1 621 600 1 777 700 EBITDA 933 600 Long term debt 417 000 596 000 512 000 399 000 482 800 478 000 490 400 855 600 EBITA 712 200 Short term debt 3 586 000 3 756 000 3 871 000 4 185 000 4 082 400 4 822 100 5 160 300 5 293 000 Net Margin 0,04 Total Liability and Equity 5 899 000 6 182 000 6 370 000 6 369 000 6 446 900 7 047 700 7 598 700 8 311 300 ROE 26,16 Net Interestbearing Debt 261 000 263 000 269 000 54 000 708 400 793 300 861 200 856 200 Chg Operating Activities -13 000 265 000 403 000 649 000 -219 000 162 000 100 000 469 000 Chg Investing activities -97 000 -201 000 -265 000 -164 000 -130 000 -307 000 -359 000 -550 000 Chg Financing activities 198 000 -68 000 -256 000 -541 000 320 000 53 000 175 000 67 000 Chg Cash and Liquids 88 000 -4 000 -118 000 -56 000 -29 000 -92 000 -84 000 -14 000 Share Price Company: Wilson ASA 23,0

Ticker: WILS 21,5

Company Presentation: Wilson is a premium player in the European Short Sea 20,0 Market. The Company operates about 100 dry bulk vessels under 10.000 dwt. 18,5 Period Mar 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010252356 Revenue 389 213 415 552 409 300 418 890 397 330 411 355 424 971 424 975 Round Lot 500,00 Other Income 7 879 8 535 8 436 9 609 8 931 16 167 7 766 13 246 Reg.Share Capital (mill) 211 080,00 Operating Costs 179 990 165 816 172 573 177 322 172 781 155 428 156 825 174 589 Number of Shares 42 216,00 EBITDA 59 317 88 825 75 010 67 698 53 657 81 121 81 828 68 983 Currency NOK Depreciation 22 349 22 168 24 262 23 838 24 621 27 048 30 488 27 121 Gics 20 EBIT 36 968 66 657 50 748 43 860 29 036 54 073 51 340 41 862 Listed From 17-03-05 Net Financials 5 100 1 107 3 473 -10 547 -5 513 -7 979 -8 613 -3 123 Par Value 5,00 Pre Tax Profit 42 068 67 764 54 221 33 313 23 523 46 094 42 727 47 178 Number of days traded 141 Tax 11 779 18 974 15 182 -7 544 6 586 10 707 11 422 10 675 Avg. Trades pr Day 4,10 Minority Interests 100 -7 46 51 47 702 6 645 5 169 Net Income 30 189 48 797 38 993 40 806 16 890 34 685 24 660 31 334 Key Figures 2006 EPS 0,72 1,16 0,92 0,97 0,40 0,82 0,58 0,74 (Preliminary figures) Price Book 2,50 2,14 2,16 1,95 1,97 2,32 1,70 2,15 Long Term Fixed Assets 969 171 1 016 851 1 008 765 1 051 254 1 060 706 1 393 781 1 461 385 1 408 173 Operating result per Share 4,38 Current Assets 183 473 181 985 196 606 183 377 181 887 201 780 195 887 206 989 BVPS 9,87 Cash 23 393 41 275 65 078 94 860 64 272 101 868 106 941 144 858 Gross Margin 1,80 Total Assets 1 176 037 1 240 111 1 270 449 1 329 491 1 306 865 1 697 429 1 764 213 1 760 020 EBITDA Margin 0,17 Total Equity 346 163 395 218 434 268 475 372 449 550 488 113 518 029 548 527 EBITDA 294 026 Long term debt 398 057 588 748 585 306 576 934 535 778 770 456 801 496 706 759 EBITA 184 749 Short term debt 222 189 225 491 205 555 201 674 246 131 363 383 369 211 408 701 Net Margin 0,11 Total Liability and Equity 1 176 037 1 240 111 1 270 449 1 329 491 1 306 865 1 697 429 1 764 213 1 760 020 ROE 14,43 Net Interestbearing Debt 446 292 621 673 596 663 559 278 547 555 768 038 798 477 693 479 Chg Operating Activities 60 766 88 477 50 057 56 554 51 337 62 127 75 796 78 455 Chg Investing activities -86 548 -116 643 -26 266 -16 364 -70 186 -407 631 -100 146 -5 423 Chg Financing activities 8 789 46 048 12 -10 408 -11 738 383 099 29 422 -35 115 Chg Cash and Liquids -16 993 17 882 23 803 29 782 -30 587 37 595 5 072 37 917

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 98 Share Price Company: Wilh. Wilhelmsen ASA 300,0

Ticker: WWI 200,0

Company Presentation: Wilh. Wilhelmsen is a leading global maritime 100,0 industrial group. It has 13 300 employees in its wholly-owned companies and employs 23 000 people when joint ventures are included. WW has 352 0 Period offices in 71 countries. Including joint ventures, these numbers rise to 516 Jan 05 Dec 05 Dec 06 offices and 79 countries.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003471401 Revenue 345 596 422 024 400 652 371 325 373 706 398 771 385 869 2 061 600 Round Lot 50,00 Other Income 515 252 396 447 801 303 915 050 934 265 915 927 948 858 0 Reg.Share Capital (mill) 737 129,36 Operating Costs 351 879 338 898 1 027 478 987 989 1 000 998 990 696 974 161 1 059 701 Number of Shares 36 856,47 EBITDA 508 968 466 784 168 015 298 386 306 973 324 001 360 566 1 001 899 Currency NOK Depreciation 81 686 76 732 96 932 99 462 80 080 81 000 88 560 96 336 Gics 20 EBIT 427 282 390 052 71 083 198 924 226 893 243 001 272 006 905 562 Listed From 02-01-80 Net Financials 6 284 6 394 193 864 -59 677 340 339 68 539 -196 097 -89 914 Par Value 20,00 Pre Tax Profit 433 565 396 447 316 644 139 247 567 232 311 540 75 909 815 648 Number of days traded 250 Tax 6 284 19 183 25 848 19 892 53 387 93 462 88 560 38 535 Avg. Trades pr Day 32,92 Minority Interests 6 631 6 231 6 326 6 422 Net Income 427 282 377 264 290 796 112 724 513 846 211 847 -18 977 770 691 Key Figures 2006 EPS 8,86 7,86 6,03 2,34 10,63 4,34 -0,40 15,92 (Preliminary figures) Price Book 1,56 1,52 1,96 2,13 1,78 1,68 1,66 1,79 Long Term Fixed Assets 8 317 357 8 706 313 10 230 593 11 127 743 11 282 405 11 411 107 12 144 275 11 740 823 Operating result per Share 38,83 Current Assets 1 595 110 1 492 511 2 825 842 2 930 847 2 790 980 2 883 989 2 966 143 4 097 091 BVPS 129,67 Cash 1 019 098 1 662 709 1 484 875 1 252 210 1 026 870 1 092 420 1 352 978 1 269 785 Gross Margin 0,70 Total Assets 10 931 565 11 861 533 14 541 310 15 310 799 15 100 255 15 387 516 16 463 396 17 107 699 EBITDA Margin 0,36 Total Equity 5 032 191 5 348 164 5 651 683 5 638 327 6 174 385 5 917 795 6 068 885 6 486 539 EBITDA 2 233 490 Long term debt 3 614 316 3 966 937 5 507 775 6 484 415 5 753 105 6 367 248 6 960 029 6 724 233 EBITA 1 886 914 Short term debt 1 652 078 1 891 823 2 740 805 2 416 426 2 139 313 2 409 566 2 354 701 2 652 162 Net Margin 0,23 Total Liability and Equity 10 931 565 11 861 533 14 541 310 15 310 799 15 100 255 15 387 516 16 463 396 17 107 699 ROE 14,20 Net Interestbearing Debt 2 595 218 2 304 227 4 022 900 5 232 205 4 726 235 5 274 828 5 607 051 5 454 447 Chg Operating Activities 276 476 869 625 697 909 1 120 605 -126 793 585 695 518 709 1 168 882 Chg Investing activities -289 044 -332 504 -2 571 925 -2 267 733 -240 240 -1 127 774 -1 461 242 -2 157 936 Chg Financing activities 201 074 249 378 2 416 834 1 425 622 173 506 479 771 1 094 350 1 104 658 Chg Cash and Liquids 188 507 786 499 542 818 278 494 -193 526 -62 308 151 817 115 604 Share Price Company: Wilh. Wilhelmsen ASA 250,0 Ticker: WWIB 200,0 150,0

Company Presentation: Wilh. Wilhelmsen is a leading global maritime 100,0 industrial group. It has 13 300 employees in its wholly-owned companies and employs 23 000 people when joint ventures are included. WW has 50,0 Period 352 offices in 71 countries. Including joint ventures, these numbers rise Jan 05 Dec 05 Dec 06 to 516 offices and 79 countries.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003471419 Revenue 345 596 422 024 400 652 371 325 373 706 398 771 385 869 2 061 600 Round Lot 50,00 Other Income 515 252 396 447 801 303 915 050 934 265 915 927 948 858 0 Reg.Share Capital (mill) 255 620,64 Operating Costs 351 879 338 898 1 027 478 987 989 1 000 998 990 696 974 161 1 059 701 Number of Shares 12 781,03 EBITDA 508 968 466 784 168 015 298 386 306 973 324 001 360 566 1 001 899 Currency NOK Depreciation 81 686 76 732 96 932 99 462 80 080 81 000 88 560 96 336 Gics 20 EBIT 427 282 390 052 71 083 198 924 226 893 243 001 272 006 905 562 Listed From 07-08-89 Net Financials 6 284 6 394 193 864 -59 677 340 339 68 539 -196 097 -89 914 Par Value 20,00 Pre Tax Profit 433 565 396 447 316 644 139 247 567 232 311 540 75 909 815 648 Number of days traded 208 Tax 6 284 19 183 25 848 19 892 53 387 93 462 88 560 38 535 Avg. Trades pr Day 6,22 Minority Interests 0 0 0 6 631 0 6 231 6 326 6 422 Net Income 427 282 377 264 290 796 112 724 513 846 211 847 -18 977 770 691 Key Figures 2006 EPS 8,86 7,86 6,03 2,34 10,63 4,34 -0,40 15,92 (Preliminary figures) Price Book 1,56 1,52 1,96 2,13 1,78 1,68 1,66 1,79 Long Term Fixed Assets 8 317 357 8 706 313 10 230 593 11 127 743 11 282 405 11 411 107 12 144 275 11 740 823 Operating result per Share 38,83 Current Assets 1 595 110 1 492 511 2 825 842 2 930 847 2 790 980 2 883 989 2 966 143 4 097 091 BVPS 129,67 Cash 1 019 098 1 662 709 1 484 875 1 252 210 1 026 870 1 092 420 1 352 978 1 269 785 Gross Margin 0,70 Total Assets 10 931 565 11 861 533 14 541 310 15 310 799 15 100 255 15 387 516 16 463 396 17 107 699 EBITDA Margin 0,36 Total Equity 5 032 191 5 348 164 5 651 683 5 638 327 6 174 385 5 917 795 6 068 885 6 486 539 EBITDA 2 233 490 Long term debt 3 614 316 3 966 937 5 507 775 6 484 415 5 753 105 6 367 248 6 960 029 6 724 233 EBITA 1 886 914 Short term debt 1 652 078 1 891 823 2 740 805 2 416 426 2 139 313 2 409 566 2 354 701 2 652 162 Net Margin 0,23 Total Liability and Equity 10 931 565 11 861 533 14 541 310 15 310 799 15 100 255 15 387 516 16 463 396 17 107 699 ROE 14,20 Net Interestbearing Debt 2 595 218 2 304 227 4 022 900 5 232 205 4 726 235 5 274 828 5 607 051 5 454 447 Chg Operating Activities 276 476 869 625 697 909 1 120 605 -126 793 585 695 518 709 1 168 882 Chg Investing activities -289 044 -332 504 -2 571 925 -2 267 733 -240 240 -1 127 774 -1 461 242 -2 157 936 Chg Financing activities 201 074 249 378 2 416 834 1 425 622 173 506 479 771 1 094 350 1 104 658 Chg Cash and Liquids 188 507 786 499 542 818 278 494 -193 526 -62 308 151 817 115 604

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 99

Consumer Discretionary Consumer companies with international drivers

The Norwegian consumer discretionary sector is dominated by two companies, the cruise company RCCL and the media-cum-internet company Schibsted.

Kim Evjenth | Head of Strategy and Dag Sletmo | Analyst, Kaupthing

Together these two companies make up 61% of the weighting. The sub-index accounts for 4.9% of the total market capitalisation of the Oslo Stock Exchange Benchmark Index.

During 2006 the Consumer Discretionary index rose 8.4%, thus massively underperforming the rest of the market. The main culprit behind this underperformance was RCCL, which dropped 15.6% due to the negative effect of high oil prices on the company’s fuel bill as well as the general concerns about the US consumer following the collapse of the housing market. This alone dragged the index down 5.0%.

The biggest positive contributor to the index in 2006 was Schibsted. The stock was up 11%, with a weak performance in the first half and a massive recovery in the last few months, as Norwegian and international investors started to recognise the company’s massive success in moving its earnings base from printed media to the internet.

Most Norwegian consumer discretionary companies are driven by the international business cycle rather than the domestic. Both Schibsted and Expert, the consumer electronics retailer, have large activities in the rest of the Nordic countries. Ekornes, the furniture manufacturer, is very much driven by the consumer cycle in the US and Europe, while the US is the clearly most important market for RCCL.

In our opinion the outlook for the Norwegian consumer discretionary sector is strong. There are clear signs of a strengthening cruise market with firmer prices. This again is a reflection of stronger consumer confidence in the US, reflecting a continued strong labour market as well as energy prices coming off their peak. The decline in the oil price since last autumn will also be beneficial for the company’s earnings. Furthermore, the valuation of RCCL is undemanding.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 102 While the advertising market for printed media remains relatively weak, the growth for online advertisements is likely to remain 20-30% in the future. The company has also positioned itself in the European market for classified print and online ads through its acquisition of the French/Spanish internet and print classified advertising company Trader Classified. Schibsted has also positioned itself for cost rationalisation through the on-going merger of its main broadsheet Aftenposten with three other regional newspapers into a new company, Media Norge, which will apply for a listing on the Oslo Stock Exchange after the summer.

Norwegian consumer discretionary Name Weight Schibsted 32.6% Royal Caribbean Cruises 28.7% Ekornes 10.1% Expert 7.1% Kongsberg Automotive 4.6% Block Watne Gruppen 3.9% Rica Hotels 2.8% Stavanger Aftenblad 2.7% Hurtigruten Group 2.4% Adresseavisen 2.1% Gyldendal 1.4% Conseptor 0.4% Media & research Group 0.3% Hjellegjerde 0.2% Spits 100.0%

Source: Bloomberg

Development of OSE Benchmark Index, OSE Consumer Discretionary Index, RCCL and Schibsted (rebased, January 1 2005=100)

140

130

120

110

100

0 30.12.05 28.02.06 30.04.06 30.06.06 30.08.06 30.10.06 OSEBX OSE Consumer Discretionary Index RCCL Schibsted

Source: Bloomberg

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 103 Company: Block Watne Gruppen ASA Share Price 42

Ticker: BWG 38

Company Presentation: Block Watne is a major Norwegian house builder 34 and delivers approximately 1000 residences annually. The operation covers acquisition and development of land, construction and sale of residences. 30 Period Mar 06 Jul 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010298300 Revenue 397 750 357 023 370 180 355 443 446 548 Round Lot 200,00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 9 000,00 Operating Costs 330 655 306 020 313 191 302 575 361 196 Number of Shares 45 000,00 EBITDA 67 095 51 003 56 989 52 868 85 352 Currency NOK Depreciation 1 279 1 270 1 149 1 275 1 436 Gics 25 EBIT 65 816 49 733 55 840 51 593 83 916 Listed From 17-03-06 Net Financials -11 570 -6 120 -7 854 -8 058 -897 Par Value 0,20 Pre Tax Profit 54 246 43 613 47 986 43 535 83 019 Number of days traded 170 Tax 14 725 6 410 13 408 12 220 23 041 Avg. Trades pr Day 2 0,39 Minority Interests 0 0 0 0 0 Net Income 39 521 37 203 34 578 31 315 59 978 Key Figures 2006 EPS 0,00 0,83 0,77 0,70 1,33 (Preliminary figures) Price Book 0,00 2,80 3,00 2,41 2,39 Long Term Fixed Assets 844 331 858 042 861 768 862 116 868 145 Operating result per Share 5,47 Current Assets 1 224 843 1 294 369 1 300 641 1 267 127 1 195 997 BVPS 15,88 Cash 130 955 75 566 80 796 88 089 86 216 Gross Margin 0,43 Total Assets 2 200 129 2 227 977 2 243 205 2 217 332 2 150 358 EBITDA Margin 0,16 Total Equity 391 441 588 971 623 243 654 809 714 748 EBITDA 245 767 Long term debt 854 900 603 600 603 300 603 000 602 700 EBITA 240 637 Short term debt 880 969 963 072 946 109 890 500 752 732 Net Margin 0,11 Total Liability and Equity 2 200 129 2 227 978 2 243 206 2 217 332 2 150 358 ROE 16,89 Net Interestbearing Debt 723 945 659 992 694 788 678 272 881 011 Chg Operating Activities 123 509 64 019 -29 952 18 136 62 650 Chg Investing activities -7 451 1 335 -4 844 -1 622 -5 406 Chg Financing activities -51 830 -119 267 40 026 -9 223 -59 116 Chg Cash and Liquids 64 228 -53 913 5 230 7 291 -1 872

Company: Conseptor ASA Share Price 16,0 Ticker: CNS 12,0 8,0 Company Presentation: The company’s business idea is to design, produce and sell clothes to modern people. Today there are approx. 170 employees 4,0 in the group. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010025513 Revenue 131 844 90 233 158 538 104 395 138 055 75 346 170 749 98 916 Round Lot 1 000,00 Other Income 5 827 8 456 9 935 12 222 6 850 8 606 7 828 9 733 Reg.Share Capital (mill) 2 783,31 Operating Costs 121 298 100 803 146 846 120 227 136 304 101 604 164 978 129 304 Number of Shares 27 833,10 EBITDA 16 373 -2 114 21 627 -3 610 8 601 -17 652 13 599 -20 655 Currency NOK Depreciation 2 499 2 814 2 747 2 771 2 627 2 477 2 630 3 751 Gics 25 EBIT 13 874 -4 928 18 880 -6 381 5 974 -20 129 10 969 -24 406 Listed From 24-06-04 Net Financials -892 -1 693 -15 419 -1 387 -2 007 -2 741 -1 722 Par Value 0,10 Pre Tax Profit 12 982 -6 621 18 865 -5 962 4 587 -22 136 8 228 -33 283 Number of days traded 106 Tax 3 635 -1 854 5 282 -1 796 1 284 -6 198 2 304 -7 316 Avg. Trades pr Day 2,23 Minority Interests -15 -8 0 0 -329 -86 -207 -207 Net Income 9 362 -4 759 13 583 -4 166 3 632 -15 852 6 131 -25 760 Key Figures 2006 EPS 0,34 -0,17 0,49 -0,15 0,13 -0,57 0,22 -0,93 (Preliminary figures) Price Book 2,08 1,91 1,64 1,90 1,89 1,87 1,49 1,70 Long Term Fixed Assets 76 998 75 321 72 875 76 442 76 316 78 199 78 651 78 320 Operating result per Share -0,47 Current Assets 178 499 170 745 205 995 170 933 210 262 189 815 237 922 178 769 BVPS 4,42 Cash 3 869 7 809 5 011 18 613 20 806 11 672 8 757 15 075 Gross Margin 0,43 Total Assets 259 366 253 875 283 881 265 988 307 384 279 686 325 330 272 164 EBITDA Margin -0,01 Total Equity 167 235 160 016 172 854 161 373 161 835 141 388 148 449 122 391 EBITDA -2 690 Long term debt 0 0 15 801 14 279 0 8 279 7 759 5 407 EBITA -12 999 Short term debt 85 068 76 883 95 226 90 336 137 264 130 019 169 122 144 366 Net Margin -0,06 Total Liability and Equity 259 366 253 875 283 881 265 988 307 384 279 686 325 330 272 164 ROE -13,38 Net Interestbearing Debt 47 324 55 856 10 790 -4 334 69 249 86 059 138 249 -9 668 Chg Operating Activities -26 729 -40 139 -44 761 -627 -36 599 -14 338 -84 693 -22 329 Chg Investing activities -10 341 -3 758 -4 059 -10 400 -4 242 -35 591 -9 942 -5 193 Chg Financing activities 22 419 33 185 35 310 11 119 43 034 -6 860 84 779 23 983 Chg Cash and Liquids -14 651 -10 712 -13 510 92 2 193 -56 789 -9 856 -3 539

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 104 Company: Ekornes ASA Share Price 160 Ticker: EKO 120 80 Company Presentation: EKO is the largest furniture manufacturer in the Nordic region employing approx. 1.590 people. The products are manufactured 40 in Norway at 7 specialised plants. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003035305 Revenue 594 300 542 000 551 900 603 300 651 300 607 900 585 200 662 900 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 36 826,75 Operating Costs 472 000 435 100 422 700 447 200 506 000 463 500 437 400 495 700 Number of Shares 36 826,75 EBITDA 122 300 106 900 129 200 156 100 145 300 144 400 147 800 167 200 Currency NOK Depreciation 21 500 21 800 21 600 22 100 23 300 22 100 24 100 21 700 Gics 25 EBIT 100 800 85 100 107 600 134 000 122 000 122 300 123 700 145 500 Listed From 06-04-95 Net Financials 2 200 2 700 -4 800 13 900 1 100 -5 400 -4 300 -2 300 Par Value 1,00 Pre Tax Profit 103 000 87 800 102 800 147 900 123 100 116 900 119 400 143 200 Number of days traded 251 Tax 32 000 28 100 32 500 45 900 41 300 34 300 37 500 45 700 Avg. Trades pr Day 45,42 Minority Interests 0 0 0 0 0 0 0 0 Net Income 71 000 59 700 70 300 102 000 81 800 82 600 81 900 97 500 Key Figures 2006 EPS 1,93 1,62 1,91 2,78 2,23 2,24 2,22 2,65 (Preliminary figures) Price Book 4,02 4,34 4,26 3,92 3,93 4,17 4,54 4,54 Long Term Fixed Assets 770 400 786 000 797 500 801 600 809 900 805 600 800 700 814 900 Operating result per Share 13,95 Current Assets 627 100 722 900 712 700 661 300 747 000 754 600 644 400 585 500 BVPS 31,49 Cash 315 000 41 300 109 500 213 700 255 700 33 400 183 600 324 600 Gross Margin 0,77 Total Assets 1 712 500 1 550 200 1 619 700 1 676 600 1 812 600 1 593 600 1 628 700 1 725 000 EBITDA Margin 0,24 Total Equity 1 259 600 1 077 900 1 092 500 1 168 200 1 265 900 1 063 600 1 091 900 1 159 500 EBITDA 604 600 Long term debt 47 500 49 100 49 100 50 800 52 200 46 800 48 900 46 900 EBITA 513 400 Short term debt 388 300 408 100 425 500 413 700 451 600 442 200 470 100 492 900 Net Margin 0,14 Total Liability and Equity 1 712 500 1 550 200 1 619 700 1 676 600 1 812 600 1 593 600 1 628 700 1 725 000 ROE 17,17 Net Interestbearing Debt -267 500 7 800 -60 400 -162 900 -203 500 13 400 -134 700 -277 700 Chg Operating Activities 127 600 167 600 258 000 368 500 53 100 99 700 296 800 477 100 Chg Investing activities -23 900 -61 400 -94 900 -120 900 -23 500 -41 800 -60 500 -88 000 Chg Financing activities -21 200 -297 400 -286 100 -266 400 12 700 -237 900 -266 100 -277 900 Chg Cash and Liquids 82 500 -191 200 -123 000 -18 800 42 300 -180 000 -29 800 111 200

Company: Expert ASA Share Price 120

Ticker: EXPERT 80

Company Presentation: Expert ASA is a clear No. 2 in the Nordic consumer 40 electronics marked. Experts operations in Norway, Sweden, Denmark and Estonia has more than 1.000 shops with combined sales of NOK 12 billion. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003089104 Revenue 1 515 900 1 298 900 1 567 100 2 110 100 2 004 000 1 860 700 2 183 300 2 984 900 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 165 830,36 Operating Costs 1 462 300 1 268 000 1 512 100 1 996 700 1 932 300 1 819 900 2 091 800 2 768 700 Number of Shares 33 166,07 EBITDA 53 600 30 900 55 000 113 400 71 700 40 800 91 500 216 200 Currency NOK Depreciation 20 200 20 300 21 100 23 400 24 000 24 600 25 700 30 300 Gics 25 EBIT 33 400 10 600 33 900 90 000 47 700 16 200 65 800 185 900 Listed From 14-04-00 Net Financials -1 400 -1 700 -1 600 13 400 -5 000 -6 200 -6 800 4 500 Par Value 5,00 Pre Tax Profit 32 000 8 900 32 300 103 500 42 700 10 000 59 000 190 400 Number of days traded 244 Tax 14 300 7 400 11 000 12 700 14 900 7 800 18 400 26 500 Avg. Trades pr Day 25,45 Minority Interests 9 900 2 500 5 900 6 500 0 -100 0 2 900 Net Income 7 800 -1 000 15 400 84 300 27 800 2 300 40 600 161 000 Key Figures 2006 EPS 0,25 -0,03 0,48 2,66 0,85 0,07 1,23 4,91 (Preliminary figures) Price Book 2,05 2,34 2,43 2,19 2,51 2,53 2,11 2,51 Long Term Fixed Assets 908 500 894 800 877 300 921 100 1 344 100 1 415 500 1 441 800 1 544 500 Operating result per Share 9,62 Current Assets 1 124 200 1 306 500 1 408 300 1 663 900 1 813 600 1 780 700 1 854 500 2 375 500 BVPS 39,84 Cash 253 700 111 200 152 400 416 400 55 100 113 400 184 600 345 800 Gross Margin 0,22 Total Assets 2 286 400 2 312 500 2 438 000 3 001 400 3 212 800 3 309 600 3 480 900 4 265 800 EBITDA Margin 0,05 Total Equity 1 191 800 1 109 600 1 129 900 1 210 600 1 185 200 1 127 100 1 208 800 1 352 600 EBITDA 420 100 Long term debt 245 400 246 700 282 900 294 400 769 500 743 500 433 800 217 000 EBITA 315 500 Short term debt 833 500 942 700 1 008 700 1 465 800 1 212 600 1 391 900 1 791 400 2 677 800 Net Margin 0,03 Total Liability and Equity 2 286 400 2 312 500 2 438 000 3 001 400 3 212 900 3 309 600 3 480 900 4 265 800 ROE 10,99 Net Interestbearing Debt 82 900 137 000 132 000 -118 200 757 400 670 000 251 400 -126 800 Chg Operating Activities -94 200 70 100 40 300 121 500 -64 200 215 000 410 400 377 300 Chg Investing activities -1 800 -42 200 -6 100 -33 400 -516 200 -84 500 -36 000 -131 200 Chg Financing activities -30 200 -170 400 6 900 175 900 179 800 -72 000 -308 000 -107 300 Chg Cash and Liquids -126 200 -142 500 41 100 264 000 -400 600 58 300 66 400 138 800

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 105 Company: Gyldendal ASA Share Price 400 Ticker: GYL 300 200 Company Presentation: Gyldendal is one of Norway’s leading publishing houses. Its activities concentrate on five mail areas: Publishing, Book Stores, 100 publishing of dictionaries, encyclopedias and distribution and logistics for book clubs. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004288200 Isin NO0003325102 Revenue 308 400 252 700 463 300 490 300 325 800 261 200 522 500 540 200 Round Lot 20,00 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 23 522,40 Reg.Share Capital (mill) 198 483,94 Operating Costs 310 200 281 300 385 800 433 700 346 100 302 300 447 600 478 200 Number of Shares 2 352,24 Number of Shares 19 848,39 EBITDA -1 800 -28 600 77 500 56 600 -20 300 -41 100 74 900 62 000 Currency NOK Currency NOK Depreciation 10 600 12 700 10 800 10 000 11 700 9 800 11 000 12 400 Gics 25 Gics 25 EBIT -12 400 -41 300 66 700 46 600 -32 000 -50 900 63 900 49 600 Listed From 02-01-80 Listed From 01-03-06 Net Financials 100 3 600 -1 700 500 2 600 -3 800 -1 100 -2 200 Par Value 10,00 Par Value 10,00 Pre Tax Profit -12 300 -37 700 65 000 47 100 -29 400 -54 700 62 800 47 400 Number of days traded 42 Number of days traded 173 Tax -3 500 -11 800 18 100 15 800 -9 400 -14 800 16 800 12 900 Avg. Trades pr Day 1,64 Avg. Trades pr Day 5,22 Minority Interests 0 0 0 0 0 0 0 0 Net Income -8 800 -25 900 46 900 31 300 -20 000 -39 900 46 000 34 500 Key Figures 2006 Key Figures 2006 EPS -3,82 -11,24 20,36 13,59 -8,68 -16,96 19,95 14,67 (Preliminary figures) (Preliminary figures) Price Book 1,45 1,83 1,64 1,64 1,40 1,50 1,33 1,50 Long Term Fixed Assets 427 200 478 200 482 300 532 800 569 600 654 300 657 300 700 800 Operating result per Share 1,31 Operating result per Share 5,30 Current Assets 664 100 624 900 897 100 753 400 614 900 653 000 1 004 100 814 600 BVPS 249,68 BVPS 76,03 Cash 90 900 81 800 11 400 61 800 33 800 9 900 46 400 20 400 Gross Margin 1,00 Gross Margin 1,00 Total Assets 1 182 200 1 184 900 1 390 800 1 348 000 1 218 300 1 317 200 1 707 800 1 535 800 EBITDA Margin 0,05 EBITDA Margin 0,15 Total Equity 567 800 521 200 567 400 575 400 564 400 511 100 557 100 587 300 EBITDA 75 500 EBITDA 530 453 Long term debt 111 200 118 100 116 400 148 700 137 500 209 600 216 600 235 900 EBITA 43 900 EBITA 105 104 Short term debt 474 000 516 300 677 700 573 900 478 200 558 200 895 800 666 000 Net Margin 0,01 Net Margin -0,01 Total Liability and Equity 1 182 200 1 184 900 1 390 800 1 348 000 1 218 300 1 317 100 1 707 700 1 535 800 ROE 2,04 ROE -1,88 Net Interestbearing Debt 20 300 36 300 105 000 86 900 103 700 199 700 170 200 215 500 Chg Operating Activities -38 800 -47 200 -106 000 82 100 -66 700 -218 400 -238 100 2 200 Chg Investing activities -22 500 -51 500 -69 600 -87 900 -23 300 -66 700 -87 500 -132 800 Chg Financing activities -4 700 23 600 30 100 -37 800 104 000 275 300 352 300 131 300 Chg Cash and Liquids -66 000 -75 100 -145 500 -43 600 14 000 -9 800 26 700 700

Company: Hjellegjerde Share Price 50 Ticker: HJE 40 30

Company Presentation: Hjellegjerde is one of Norway`s largest home 20 furnishings groups with NOK 469.5 mill turnover in 2006 and 500 employees 10 in 6 countries around the world. Read more on www.hjellegjerde.com 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003086902 Isin NO0003033102 Revenue 118 200 111 400 93 700 143 600 127 378 96 423 98 070 146 879 Round Lot 200,00 Round Lot 200,00 Other Income 500 800 700 600 13 160 -395 144 -258 Reg.Share Capital (mill) 54 051,00 Reg.Share Capital (mill) 22 160,79 Operating Costs 115 200 107 400 93 000 141 800 121 522 90 043 99 807 136 053 Number of Shares 5 405,10 Number of Shares 44 321,57 EBITDA 3 500 4 800 1 400 2 400 19 016 5 985 -1 593 10 568 Currency NOK Currency NOK Depreciation 4 000 4 100 4 000 12 000 3 791 3 558 3 879 3 906 Gics 25 Gics 25 EBIT -500 700 -2 600 -9 600 15 225 2 427 -5 472 6 662 Listed From 16-10-97 Listed From 24-06-05 Net Financials -2 000 -1 900 -200 400 -3 009 -1 064 2 682 -6 173 Par Value 10,00 Par Value 0,50 Pre Tax Profit -2 500 -1 200 -2 800 -9 200 12 216 1 363 -2 790 489 Number of days traded 188 Number of days traded 228 Tax -600 -300 -800 -1 800 2 524 850 -677 -3 380 Avg. Trades pr Day 13,00 Avg. Trades pr Day 9,87 Minority Interests 0 0 0 0 0 0 0 0 Net Income -1 900 -900 -2 000 -7 400 9 692 513 -2 113 3 869 Key Figures 2006 Key Figures 2006 EPS -0,35 -0,17 -0,37 -1,37 1,79 0,09 -0,39 0,72 (Preliminary figures) (Preliminary figures) Price Book 1,28 1,10 1,17 1,36 1,14 1,10 1,02 0,99 Long Term Fixed Assets 138 200 133 500 139 200 127 900 131 436 134 231 136 498 134 821 Operating result per Share 3,49 Operating result per Share 6,28 Current Assets 159 600 160 200 171 400 175 500 197 011 162 665 182 415 193 579 BVPS 30,29 BVPS 12,41 Cash 21 200 28 800 19 500 21 500 0 26 661 16 579 22 133 Gross Margin 0,57 Gross Margin 0,52 Total Assets 319 000 322 500 330 100 324 900 328 447 323 557 335 492 350 533 EBITDA Margin 0,07 EBITDA Margin 0,13 Total Equity 161 000 154 000 156 800 147 200 160 114 157 831 158 502 163 711 EBITDA 33 976 EBITDA 375 083 Long term debt 61 900 58 900 58 300 56 700 57 042 53 733 52 301 50 883 EBITA 18 842 EBITA 286 622 Short term debt 93 500 103 700 109 400 116 500 100 751 101 455 109 733 124 364 Net Margin 0,02 Net Margin 0,06 Total Liability and Equity 319 000 322 500 330 100 324 900 328 447 323 557 335 492 350 533 ROE 4,47 ROE 17,66 Net Interestbearing Debt 70 300 64 600 85 100 35 200 57 042 27 072 79 344 28 750 Chg Operating Activities 1 100 8 400 -11 000 3 300 11 888 10 495 -14 958 -5 264 Chg Investing activities -1 100 -3 000 -4 100 -7 700 15 853 9 379 9 040 5 357 Chg Financing activities 1 300 3 400 14 500 6 000 -1 836 -5 347 -3 744 -8 197 Chg Cash and Liquids 1 300 8 800 -600 1 600 25 905 14 527 -9 662 -8 104

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 106 Company: Hurtigruten ASA Share Price 80 Ticker: HRG 60 40 Company Presentation: Hurtigruten ASA is a company based in Norway with an annual turnover of app. 4 billion NOK and 3400 employees. 20 The company runs the Norwegian Coastal Voyage ships and has a leading 0 Period position in travel business and passenger transport. Mar 05 Jun 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0004288200 (All figures are in NOK ‘ 000) Isin NO0003325102 Round Lot 20,00 Revenue 324 010 868 467 1 006 538 491 781 Round Lot 200,00 Reg.Share Capital (mill) 23 522,40 Other Income 195 328 199 557 180 192 256 301 Reg.Share Capital (mill) 198 483,94 Number of Shares 2 352,24 Operating Costs 532 215 833 328 841 113 784 192 Number of Shares 19 848,39 Currency NOK EBITDA -12 877 234 696 345 617 -36 110 Currency NOK Gics 25 Depreciation 72 421 115 220 109 488 129 094 Gics 25 Listed From 02-01-80 EBIT -85 298 119 476 236 129 -165 204 Listed From 01-03-06 Par Value 10,00 Net Financials -6 975 -28 186 -39 708 -1 172 Par Value 10,00 Number of days traded 42 Pre Tax Profit -92 273 91 290 196 421 -166 376 Number of days traded 173 Avg. Trades pr Day 1,64 Tax -25 836 104 616 54 708 -46 585 Avg. Trades pr Day 5,22 Minority Interests 1 768 0 2 659 -14 129 Key Figures 2006 Net Income -68 205 -13 326 139 054 -105 662 Key Figures 2006 (Preliminary figures) EPS -3,44 -0,67 7,01 -5,32 (Preliminary figures) Price Book 0,85 0,69 0,53 0,78 Operating result per Share 1,31 Long Term Fixed Assets 6 308 286 6 224 336 6 177 957 6 074 913 Operating result per Share 5,30 BVPS 249,68 Current Assets 1 251 492 1 502 863 1 685 245 1 434 494 BVPS 76,03 Gross Margin 1,00 Cash 0 0 0 0 Gross Margin 1,00 EBITDA Margin 0,05 Total Assets 7 559 778 7 727 199 7 863 202 7 509 407 EBITDA Margin 0,15 EBITDA 75 500 Total Equity 1 750 960 1 725 174 1 900 183 1 701 412 EBITDA 530 453 EBITA 43 900 Long term debt 4 140 123 3 968 594 4 329 019 4 144 711 EBITA 105 104 Net Margin 0,01 Short term debt 1 250 995 1 572 861 1 160 029 1 165 978 Net Margin -0,01 ROE 2,04 Total Liability and Equity 7 559 778 7 727 199 7 863 202 7 509 407 ROE -1,88 Net Interestbearing Debt 4 140 123 3 968 594 4 329 019 4 144 711 Chg Operating Activities -65 745 385 062 31 808 -73 841 Chg Investing activities 432 379 -65 816 -55 876 -23 816 Chg Financing activities 82 624 -163 345 105 199 -101 925 Chg Cash and Liquids 449 258 155 901 81 131 -199 582

Company: Kongsberg Automotive Holding Share Price 60 Ticker: KOA 40 Company Presentation: Kongsberg Automotive develops, manufactures 20 and markets systems for gearshift, clutch actuation, seat comfort, stabilising rods, couplings and components. 0 Period Jun 05 Feb 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003086902 (All figures are in NOK ‘ 000) Isin NO0003033102 Round Lot 200,00 Revenue 650 912 597 285 652 693 719 766 722 541 618 127 731 231 Round Lot 200,00 Reg.Share Capital (mill) 54 051,00 Other Income 0 0 0 0 0 0 71 706 Reg.Share Capital (mill) 22 160,79 Number of Shares 5 405,10 Operating Costs 545 781 418 837 560 713 612 756 625 845 541 236 708 451 Number of Shares 44 321,57 Currency NOK EBITDA 105 131 178 448 91 980 107 010 96 696 76 891 94 486 Currency NOK Gics 25 Depreciation 23 096 104 945 23 179 23 843 23 832 24 953 26 704 Gics 25 Listed From 16-10-97 EBIT 82 035 73 503 68 801 83 167 72 864 51 938 67 782 Listed From 24-06-05 Par Value 10,00 Net Financials -9 386 -9 810 -5 060 -17 741 207 -24 886 -20 001 Par Value 0,50 Number of days traded 188 Pre Tax Profit 72 649 44 735 78 085 65 426 73 071 27 052 47 781 Number of days traded 228 Avg. Trades pr Day 13,00 Tax 21 429 11 714 20 303 18 974 17 728 8 624 10 140 Avg. Trades pr Day 9,87 Minority Interests 0 0 0 0 0 0 0 Key Figures 2006 Net Income 51 220 33 021 57 782 46 452 55 343 18 428 37 641 Key Figures 2006 (Preliminary figures) EPS 1,16 0,75 1,30 1,05 1,25 0,42 0,87 (Preliminary figures) Price Book 5,21 5,67 4,36 5,10 4,89 4,57 4,59 Operating result per Share 3,49 Long Term Fixed Assets 935 337 933 010 955 769 962 575 976 597 1 010 322 1 026 784 Operating result per Share 6,28 BVPS 30,29 Current Assets 718 213 676 779 645 605 722 816 769 799 793 979 843 159 BVPS 12,41 Gross Margin 0,57 Cash 113 850 116 889 133 837 202 578 191 559 170 863 207 281 Gross Margin 0,52 EBITDA Margin 0,07 Total Assets 1 767 400 1 726 678 1 735 211 1 887 969 1 937 955 1 975 164 2 077 224 EBITDA Margin 0,13 EBITDA 33 976 Total Equity 399 449 433 855 490 035 529 373 498 499 509 200 549 853 EBITDA 375 083 EBITA 18 842 Long term debt 679 207 711 063 645 710 793 595 791 620 817 997 812 032 EBITA 286 622 Net Margin 0,02 Short term debt 635 913 526 562 537 282 502 903 585 770 584 767 641 858 Net Margin 0,06 ROE 4,47 Total Liability and Equity 1 767 400 1 726 679 1 735 211 1 887 969 1 937 955 1 975 164 2 077 224 ROE 17,66 Net Interestbearing Debt 720 945 715 341 662 925 666 812 677 804 797 227 749 528 Chg Operating Activities 91 571 117 935 288 889 62 231 56 891 -23 921 88 552 Chg Investing activities -233 466 -254 226 -298 764 -23 000 -43 522 -25 408 -41 550 Chg Financing activities 175 062 172 497 63 029 29 510 -106 715 28 633 -10 584 Chg Cash and Liquids 33 167 36 206 53 154 68 741 -93 346 -20 696 36 418

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 107 Company: Media & Research Group ASA Share Price 16,0 Ticker: MRG 12,0 8,0 Company Presentation: MRG operates in the Nordic advertising and marketing service sector, as a leading provider of information and research products. 4,0 0 Period Sep 05 Apr 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010280936 Isin NO0003028904 Revenue 42 990 29 043 45 307 41 698 45 373 50 891 44 939 Round Lot 1 000,00 Round Lot 50,00 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 602,49 Reg.Share Capital (mill) 69 250,00 Operating Costs 39 132 27 785 39 885 37 588 43 387 27 790 44 064 Number of Shares 16 024,91 Number of Shares 69 250,00 EBITDA 3 858 1 258 5 422 4 110 1 986 2 592 875 Currency NOK Currency NOK Depreciation 796 761 650 1 253 1 315 1 901 937 Gics 25 Gics 25 EBIT 3 062 497 4 772 2 857 671 691 -62 Listed From 23-09-05 Listed From 15-07-92 Net Financials -440 -293 1 851 -36 -241 -103 4 992 Par Value 0,10 Par Value 1,00 Pre Tax Profit 2 622 204 6 623 2 821 430 588 5 449 Number of days traded 132 Number of days traded 251 Tax 720 57 1 318 790 121 164 114 Avg. Trades pr Day 3,71 Avg. Trades pr Day 241,07 Minority Interests 0 0 0 0 0 0 0 Net Income 1 902 147 5 305 2 031 309 424 5 335 Key Figures 2006 Key Figures 2006 EPS 0,18 0,01 0,41 0,16 0,02 0,03 0,34 (Preliminary figures) (Preliminary figures) Price Book 0,00 3,49 2,86 4,94 2,39 2,07 2,33 Long Term Fixed Assets 25 820 30 531 33 559 31 471 71 324 72 777 50 084 Operating result per Share 0,07 Operating result per Share 15,23 Current Assets 31 825 30 154 40 701 34 266 51 675 50 051 33 814 BVPS 5,26 BVPS 70,40 Cash 11 010 22 989 6 254 10 212 25 034 15 516 38 797 Gross Margin 0,44 Gross Margin 0,12 Total Assets 68 655 83 674 80 514 75 949 148 033 138 344 122 695 EBITDA Margin 0,04 EBITDA Margin 0,12 Total Equity 20 024 40 437 40 838 33 884 85 565 84 703 84 287 EBITDA 5 759 EBITDA 1 452 000 Long term debt 4 417 4 167 3 917 2 667 4 408 5 013 11 262 EBITA 1 073 EBITA 1 013 000 Short term debt 44 214 38 051 35 759 39 398 58 060 48 628 27 144 Net Margin 0,06 Net Margin 0,19 Total Liability and Equity 68 655 83 674 80 514 75 949 148 033 138 344 122 693 ROE 7,52 ROE 31,76 Net Interestbearing Debt -6 593 -18 822 -2 337 -7 545 -20 626 -10 503 -27 535 Chg Operating Activities 4 068 -2 267 5 094 610 2 962 529 -4 287 Chg Investing activities -152 -4 243 1 703 -1 293 1 296 -4 913 24 228 Chg Financing activities -527 18 489 -23 531 -2 912 10 560 1 466 3 339 Chg Cash and Liquids 3 389 11 979 -16 734 -3 595 14 818 -2 918 23 280 Share Price Company: Royal Caribbean Cruises Ltd. 400 Ticker: RCL 300 200 Company Presentation: RCL is a global cruise vacation company that operates Royal Caribbean International and Celebrity Cruises, with a 100 combined total of 29 ships in service and one under construction. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin LR0008862868 Isin NO0010340003 Revenue 5 483 483 5 677 834 7 175 502 4 896 639 5 620 692 5 937 368 7 665 246 5 341 669 Round Lot 50,00 Round Lot 500,00 Other Income 1 856 194 2 016 060 2 531 995 1 930 696 2 030 512 2 118 950 2 689 021 2 064 772 Reg.Share Capital (mill) 597,69 Reg.Share Capital (mill) 2 781,65 Operating Costs 5 459 857 5 690 150 6 466 898 5 785 584 6 028 185 6 272 647 7 008 338 5 982 756 Number of Shares 59 768,57 Number of Shares 6 954,11 EBITDA 1 879 820 2 003 744 3 240 599 1 041 751 1 623 019 1 783 671 3 345 928 1 423 685 Currency USD Currency NOK Depreciation 626 860 639 270 652 804 671 779 681 740 635 684 691 598 694 470 Gics 25 Gics 25 EBIT 1 252 960 1 364 474 2 587 796 369 972 941 279 1 147 987 2 654 330 729 215 Listed From 15-08-97 Listed From 12-12-06 Net Financials -402 525 -376 592 -166 367 -393 869 -143 823 -385 169 -469 603 -429 776 Par Value 0,01 Par Value 0,40 Pre Tax Profit 850 435 987 881 2 421 428 -23 897 797 455 762 818 2 184 728 299 439 Number of days traded 251 Number of days traded 12 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 284,49 Avg. Trades pr Day 3,83 Minority Interests 0 0 0 0 0 0 0 0 Net Income 850 435 987 881 2 421 428 -23 897 797 455 762 818 2 184 728 299 439 Key Figures 2006 Key Figures 2006 EPS 4,39 5,10 11,54 -0,12 4,11 3,93 11,27 1,41 (Preliminary figures) (Preliminary figures) Price Book 1,75 1,84 1,48 1,56 1,44 1,31 1,27 1,32 Long Term Fixed Assets 69 867 845 72 091 100 70 600 898 74 302 247 72 393 624 72 601 665 76 057 031 80 378 792 Operating result per Share 4,07 Operating result per Share 0,98 Current Assets 1 587 818 1 837 346 1 713 134 1 035 997 1 855 330 2 162 954 1 942 089 2 742 861 BVPS 101,92 BVPS 10,38 Cash 1 970 720 1 950 921 1 237 653 848 693 1 790 289 2 017 438 1 434 534 658 624 Gross Margin 1,00 Gross Margin 0,61 Total Assets 73 426 383 75 879 367 73 551 685 76 186 937 76 039 243 76 782 057 79 433 653 83 780 278 EBITDA Margin 0,24 EBITDA Margin 0,07 Total Equity 31 006 462 33 392 435 36 442 492 37 596 507 37 485 422 35 272 432 39 308 774 38 103 411 EBITDA 1 280 091 EBITDA 7 812 Long term debt 30 348 334 28 346 937 23 510 099 24 055 229 24 694 815 27 263 894 28 275 768 31 527 718 EBITA 858 446 EBITA 6 806 Short term debt 11 653 016 13 464 418 12 801 409 13 461 469 13 859 006 14 245 731 11 849 111 12 215 948 Net Margin 0,12 Net Margin 0,02 Total Liability and Equity 73 426 383 75 879 367 73 551 685 76 186 937 76 039 243 76 782 057 79 433 653 83 780 278 ROE 1,69 ROE 2,50 Net Interestbearing Debt 30 469 100 29 044 404 25 930 897 23 206 535 26 825 412 28 260 724 28 588 644 33 190 180 Chg Operating Activities 2 398 477 4 931 555 6 357 688 7 369 204 2 294 875 4 260 113 5 743 972 6 091 712 Chg Investing activities -478 097 -1 025 013 149 346 -590 313 -1 583 266 -5 762 526 -7 164 931 -11 870 600 Chg Financing activities -3 913 763 -6 020 179 -9 346 310 -10 115 462 266 646 2 728 621 2 022 871 5 649 855 Chg Cash and Liquids -1 993 383 -2 113 637 -2 839 276 -3 336 571 978 256 1 226 208 601 912 -129 033

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 108 Share Price Company: Schibsted ASA 250 200 Ticker: SCH 150 100 Company Presentation: Schibsted is one of the leading media groups in Scandinavia. It’s activities relate to media products and rights in the field of 50 newspapers, TV, film, publishing, multimedia and mobile services. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010280936 (All figures are in NOK ‘ 000) Isin NO0003028904 Round Lot 1 000,00 Revenue 2 432 000 2 497 000 2 260 000 2 643 000 2 557 000 2 697 000 2 907 000 3 487 000 Round Lot 50,00 Reg.Share Capital (mill) 1 602,49 Other Income 207 000 93 000 0 0 111 000 61 000 0 65 000 Reg.Share Capital (mill) 69 250,00 Number of Shares 16 024,91 Operating Costs 2 165 000 2 187 000 1 972 000 2 392 000 2 339 000 2 374 000 2 622 000 3 105 000 Number of Shares 69 250,00 Currency NOK EBITDA 474 000 403 000 288 000 251 000 329 000 384 000 285 000 447 000 Currency NOK Gics 25 Depreciation 90 000 94 000 83 000 77 000 89 000 89 000 126 000 145 000 Gics 25 Listed From 23-09-05 EBIT 384 000 309 000 205 000 174 000 240 000 295 000 159 000 302 000 Listed From 15-07-92 Par Value 0,10 Net Financials 1 000 47 000 9 000 64 000 22 000 -11 000 -45 000 5 000 Par Value 1,00 Number of days traded 132 Pre Tax Profit 385 000 356 000 198 000 238 000 262 000 298 000 114 000 1 739 000 Number of days traded 251 Avg. Trades pr Day 3,71 Tax 27 000 100 000 40 000 63 000 74 000 83 000 32 000 -1 000 Avg. Trades pr Day 241,07 Minority Interests 0 0 0 15 000 16 000 22 000 0 0 Key Figures 2006 Net Income 358 000 256 000 158 000 160 000 172 000 193 000 82 000 1 740 000 Key Figures 2006 (Preliminary figures) EPS 5,27 3,78 2,33 2,37 2,58 2,94 1,25 26,22 (Preliminary figures) Price Book 4,28 4,63 4,92 4,74 4,37 4,22 4,31 3,17 Operating result per Share 0,07 Long Term Fixed Assets 5 437 000 5 252 000 5 284 000 5 667 000 5 637 000 5 770 000 12 160 000 11 888 000 Operating result per Share 15,23 BVPS 5,26 Current Assets 1 511 000 1 562 000 1 517 000 1 592 000 1 757 000 1 916 000 2 283 000 4 661 000 BVPS 70,40 Gross Margin 0,44 Cash 586 000 676 000 671 000 676 000 589 000 856 000 763 000 0 Gross Margin 0,12 EBITDA Margin 0,04 Total Assets 7 534 000 7 490 000 7 472 000 7 935 000 7 983 000 8 542 000 15 206 000 16 549 000 EBITDA Margin 0,12 EBITDA 5 759 Total Equity 2 948 000 2 952 000 3 129 000 3 221 000 3 165 000 3 013 000 3 150 000 5 169 000 EBITDA 1 452 000 EBITA 1 073 Long term debt 1 356 000 1 389 000 1 355 000 1 096 000 1 287 000 1 758 000 1 573 000 740 000 EBITA 1 013 000 Net Margin 0,06 Short term debt 2 346 000 2 297 000 2 110 000 2 746 000 2 702 000 2 935 000 7 936 000 8 328 000 Net Margin 0,19 ROE 7,52 Total Liability and Equity 7 534 000 7 490 000 7 472 000 7 935 000 7 983 000 8 542 000 15 206 000 16 549 000 ROE 31,76 Net Interestbearing Debt 1 012 000 945 000 786 000 420 000 1 163 000 1 304 000 810 000 740 000 Chg Operating Activities 347 000 419 000 634 000 984 000 -97 000 352 000 595 000 821 000 Chg Investing activities -74 000 175 000 117 000 -190 000 68 000 -143 000 -4 667 000 -2 873 000 Chg Financing activities -219 000 -450 000 -612 000 -650 000 -58 000 -29 000 4 159 000 3 616 000 Chg Cash and Liquids 54 000 144 000 139 000 144 000 -87 000 180 000 87 000 1 564 000

Company: Spits ASA Share Price 16,0 Ticker: SPITS 12,0 8,0 Company Presentation: Spits is a leading group in the Nordic market for professional Marketing Services with activities in market analysis, market 4,5 consultancy, PR, advertising, design, multimedia and film. 0 Period 28 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin LR0008862868 (All figures are in NOK ‘ 000) Isin NO0010340003 Round Lot 50,00 Revenue 45 244 Round Lot 500,00 Reg.Share Capital (mill) 597,69 Other Income 0Reg.Share Capital (mill) 2 781,65 Number of Shares 59 768,57 Operating Costs 41 273 Number of Shares 6 954,11 Currency USD EBITDA 3 971 Currency NOK Gics 25 Depreciation 437 Gics 25 Listed From 15-08-97 EBIT 3 534 Listed From 12-12-06 Par Value 0,01 Net Financials -184 Par Value 0,40 Number of days traded 251 Pre Tax Profit 1 057 Number of days traded 12 Avg. Trades pr Day 284,49 Tax 296 Avg. Trades pr Day 3,83 Minority Interests 984 Key Figures 2006 Net Income -223 Key Figures 2006 (Preliminary figures) EPS -0,03 (Preliminary figures) Price Book 1,30 Operating result per Share 4,07 Long Term Fixed Assets 85 846 Operating result per Share 0,98 BVPS 101,92 Current Assets 47 558 BVPS 10,38 Gross Margin 1,00 Cash 32 153 Gross Margin 0,61 EBITDA Margin 0,24 Total Assets 165 557 EBITDA Margin 0,07 EBITDA 1 280 091 Total Equity 84 701 EBITDA 7 812 EBITA 858 446 Long term debt 23 766 EBITA 6 806 Net Margin 0,12 Short term debt 57 090 Net Margin 0,02 ROE 1,69 Total Liability and Equity 165 557 ROE 2,50 Net Interestbearing Debt -8 387 Chg Operating Activities 4 199 Chg Investing activities 14 043 Chg Financing activities 13 910 Chg Cash and Liquids 32 152

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 109 Share Price Company: Stavanger Aftenblad ASA 160 Ticker: STA 120 80 Company Presentation: Stavanger Aftenblad ASA is the leading mediaorganization in Rogaland and reaches over 200 000 local people 40 daily through newspaper, local-television and multimedia. Total turnover 0 Period in 2006 – 654 mill. NOK. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005493601 Revenue 108 202 135 375 33 351 135 963 138 497 131 945 32 885 177 310 Round Lot 100,00 Other Income 21 367 17 421 94 875 27 963 19 174 37 767 111 243 5 052 Reg.Share Capital (mill) 7 319,99 Operating Costs 109 589 110 371 108 366 135 480 129 522 125 518 126 931 166 459 Number of Shares 7 319,99 EBITDA 19 980 42 425 19 860 28 446 28 149 44 194 17 197 15 903 Currency NOK Depreciation 8 236 6 893 7 515 7 745 8 033 8 180 8 466 7 817 Gics 25 EBIT 11 744 35 532 12 345 20 701 20 116 36 014 8 731 8 086 Listed From 15-04-93 Net Financials 8 829 7 403 5 636 5 753 7 381 7 776 2 042 6 199 Par Value 1,00 Pre Tax Profit 20 573 42 935 17 981 26 454 27 497 43 790 10 773 14 285 Number of days traded 74 Tax 4 285 9 051 3 776 6 603 6 049 9 634 2 370 7 665 Avg. Trades pr Day 2,42 Minority Interests 0 0 0 0 0 0 0 0 Net Income 16 288 33 884 14 205 19 851 21 448 34 156 8 403 6 620 Key Figures 2006 EPS 2,23 4,63 1,94 2,71 2,93 4,67 1,15 0,90 (Preliminary figures) Price Book 2,10 2,31 2,74 2,45 2,50 2,52 3,19 3,65 Long Term Fixed Assets 224 819 222 274 233 730 235 883 235 001 241 999 248 660 276 843 Operating result per Share 9,97 Current Assets 73 232 78 021 70 410 75 732 84 746 87 112 94 523 102 480 BVPS 41,67 Cash 206 674 151 401 152 306 189 474 224 463 198 702 211 556 234 281 Gross Margin 0,91 Total Assets 504 725 451 696 456 446 501 089 544 210 527 813 554 739 613 604 EBITDA Margin 0,16 Total Equity 275 669 234 395 248 600 268 551 289 999 290 008 298 411 305 051 EBITDA 105 443 Long term debt 6 000 6 000 104 672 104 367 106 159 108 613 21 067 46 412 EBITA 72 947 Short term debt 129 708 115 392 103 174 128 171 148 052 129 192 131 143 160 028 Net Margin 0,11 Total Liability and Equity 504 725 451 696 456 446 501 089 544 210 527 813 554 739 613 604 ROE 14,32 Net Interestbearing Debt -200 674 -145 401 -47 634 -85 107 -118 304 -90 089 -190 489 -187 869 Chg Operating Activities 39 646 55 909 62 161 0 48 912 53 151 65 585 92 069 Chg Investing activities -41 077 44 971 -3 914 0 -57 011 -21 987 -58 183 -92 681 Chg Financing activities 0 -75 156 -75 156 0 0 -34 125 -19 058 6 284 Chg Cash and Liquids -1 431 25 724 -16 909 0 -8 099 -2 961 -11 656 5 672

Company: Adresseavisen ASA Share Price 600

Ticker: AAV 400

Company Presentation: The Adresseavisen Group’s business is divided into two 200 main areas: Media and printing companies. The Media Division comprises the regional newspaper, Adresseavisen, the company’s four local newspapers and 0 Period one local TV station. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003502809 Revenue 198 800 222 000 197 000 221 900 218 400 229 200 209 900 240 700 Round Lot 20,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 38 032,92 Operating Costs 169 600 168 900 164 800 194 500 189 200 172 000 174 000 205 400 Number of Shares 1 901,65 EBITDA 29 200 53 100 32 200 27 400 29 200 57 200 35 900 35 300 Currency NOK Depreciation 12 400 12 100 12 800 13 300 12 600 12 700 12 500 12 800 Gics 25 EBIT 16 800 41 000 19 400 14 100 16 600 44 500 23 400 22 500 Listed From 01-04-92 Net Financials 4 700 2 000 -700 400 -400 8 500 -100 -23 500 Par Value 20,00 Pre Tax Profit 21 500 43 000 18 700 14 500 16 200 53 000 23 300 -1 000 Number of days traded 62 Tax 6 400 12 700 5 500 4 300 4 800 15 500 6 900 -400 Avg. Trades pr Day 1,69 Minority Interests 0 0 0 0 0 0 0 0 Net Income 15 100 30 300 13 200 10 200 11 400 37 500 16 400 -600 Key Figures 2006 EPS 8,30 16,66 7,26 5,61 6,27 20,61 9,01 -0,33 (Preliminary figures) Price Book 2,90 3,57 3,41 3,25 3,09 3,05 3,36 3,41 Long Term Fixed Assets 390 200 430 100 434 600 431 500 439 700 455 400 450 900 426 900 Operating result per Share 58,87 Current Assets 133 400 116 700 110 700 96 500 113 300 119 600 125 600 124 800 BVPS 170,17 Cash 74 300 39 900 51 900 92 000 70 000 54 400 51 600 94 100 Gross Margin 0,83 Total Assets 597 900 586 700 597 200 620 000 623 000 629 400 628 100 645 800 EBITDA Margin 0,18 Total Equity 269 200 264 100 279 500 292 700 308 000 306 000 323 200 324 000 EBITDA 157 600 Long term debt 91 300 87 300 81 700 76 400 71 500 66 300 61 600 56 200 EBITA 107 100 Short term debt 181 100 179 200 180 400 199 600 191 600 205 300 191 400 211 300 Net Margin 0,07 Total Liability and Equity 597 900 586 700 597 200 619 900 623 000 629 500 628 100 645 900 ROE 12,15 Net Interestbearing Debt 17 000 47 400 29 800 -15 600 1 500 11 900 10 000 -37 900 Chg Operating Activities 14 300 47 900 72 400 129 100 1 600 48 100 53 400 115 800 Chg Investing activities -28 900 -56 100 -64 100 -76 300 -19 100 -36 700 -40 400 -55 800 Chg Financing activities -4 400 -45 200 -49 700 -54 100 -4 400 -48 900 -53 300 -57 800 Chg Cash and Liquids -19 000 -53 400 -41 400 -1 300 -21 900 -37 500 -40 300 2 200

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 110 Consumer Staples Consumer staples

The consumer staples sector significantly outperformed the market in 2006. The fish industry is leading the way.

Kim Evjenth | Head of Strategy and Geir Kristiansen | Analyst, Kaupthing

The Norwegian consumer staples sector is dominated by the fish industry, and most nota- ble fish farming, with 92% of the market weight in the sector. Marine Harvest Group and Cermaq are the dominating companies, with 58% of the weight. Although, the sub-index accounts for only 3.2% of the total market capitalisation of the Oslo Stock Exchange, this exchange has the largest selection of companies from the fish industry, and is attracting foreign companies within this industry.

With an increase of 35.6%, the sector outperformed the market in 2006. Particularly the salmon farmers outperformed significantly, with Marine Harvest Group in the lead with 179% return to shareholders. This was driven by strong salmon prices and Pan Fish’ takeover of Fjord Seafood and Marine Harvest. Also Cermaq performed well, with a 70% return to shareholders, despite production problems in Chile.

The two stocks not related to the fish industry underperformed significantly; the family dominated Rieber & Søn had a return of 14.5% while the small dairy company Synnøve Finden was down 8.3%.

Increasing health consciousness and spending power combined with more affordable prices are driving the demand for fish. Farmed fish covers about 36% of global supply of seafood, and salmon is the largest species, with more than 20% of the supply of farmed fish. The supply for farmed fish has increased by 9.5% annually in the 1970-2000 period. In contrast, the annual growth in meat production was only 2.8% in the period.

However, despite the fact that farming has made salmon into everyday food, we do not expect the price level to continue downwards. The reason is that supply will not be able to meet the expected growth in demand in the longer term. This is due to limited availability of suitable space for salmon farms. We already see the larger salmon farmers diversify into other species, for example tilapia.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 112 The stock prices of the salmon farmers have historically closely followed the spot price on salmon. During the recent months, however, we have seen that stronger interest from international investors have put focus on the long-term drivers. We have also seen that the ongoing consolidation of the sector has increased the suppliers’ market power, and has enabled them to smooth the volatility in the salmon prices. We believe that continuing consolidation, higher salmon prices than expected by the market and improving margins will drive the fish farming stocks to new highs in 2007.

Norwegian consumer staples

Name Weight Marine Harvest 40,3% Cermaq 18.3% Austevoll Seafood 16,6% Leroy Seafood Group 8,6% Riebel & Son 6,8% Copeinca 3,6% Aker Seafoods 2,8% Marine Farms 1,2% Codfarmers 0,7% Domstein 0,6% Synnøve Finden 0,5% 100%

400

350

300

250

200

150

100

50 30.12.05 28.02.06 30.04.06 30.06.06 30.08.06 30.10.06

OSE Consumer Staple Index Marina Harvest OSEBX Cermaq

Development of OSE Benchmark Index, OSE Consumer Staples Index, Marine Harvest and Cermaq (rebased, January 1 2005=100)

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 113 Share Price Company: Aker Seafoods ASA 50,0 Ticker: AKS 40,0 30,0 20,0 Company Presentation: Aker Seafoods’ activities are based on wild fish resources. The Aker Seafoods Group harvests, processes, and sells 10,0 seafood from regulated fisheries that are and will remain renewable if 0 Period properly managed. May 05 March 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010269129 Isin NO0010003882 Revenue 680 000 455 000 537 000 605 000 577 000 400 000 587 000 Round Lot 200,00 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 243 230,08 Reg.Share Capital (mill) 925 000,00 Operating Costs 641 000 430 000 504 000 538 000 539 000 365 000 491 000 Number of Shares 48 646,02 Number of Shares 92 500,00 EBITDA 39 000 25 000 33 000 67 000 38 000 35 000 96 000 Currency NOK Currency NOK Depreciation 19 000 20 000 22 000 21 000 22 000 23 000 17 000 Gics 30 Gics 30 EBIT 20 000 5 000 11 000 46 000 16 000 12 000 79 000 Listed From 13-05-05 Listed From 24-10-05 Net Financials -18 000 -11 000 -12 000 -11 000 -12 000 -13 000 -12 000 Par Value 5,00 Par Value 10,00 Pre Tax Profit 2 000 -6 000 -1 000 35 000 4 000 -1 000 67 000 Number of days traded 240 Number of days traded 251 Tax -2 000 2 000 -3 000 2 000 1 000 -41 000 0 Avg. Trades pr Day 14,50 Avg. Trades pr Day 218,25 Minority Interests 1 000 0 0 1 000 0 0 21 000 Net Income 3 000 -8 000 2 000 32 000 3 000 40 000 46 000 Key Figures 2006 Key Figures 2006 EPS 0,06 -0,16 0,04 0,66 0,06 0,82 0,95 (Preliminary figures) (Preliminary figures) Price Book 1,83 2,23 2,36 2,27 1,65 1,51 1,52 Long Term Fixed Assets 1 960 000 1 972 000 2 021 000 2 024 000 1 960 000 2 067 000 2 066 000 Operating result per Share 3,13 Operating result per Share 3,94 Current Assets 594 000 541 000 503 000 560 000 594 000 480 000 490 000 BVPS 19,80 BVPS 46,07 Cash 191 000 196 000 226 000 93 000 191 000 30 000 150 000 Gross Margin 1,00 Gross Margin 0,40 Total Assets 2 745 000 2 709 000 2 750 000 2 677 000 2 745 000 2 577 000 2 706 000 EBITDA Margin 0,11 EBITDA Margin 0,21 Total Equity 943 000 926 000 906 000 894 000 943 000 936 000 980 000 EBITDA 235 000 EBITDA 1 568 400 Long term debt 1 066 000 1 222 000 1 166 000 1 161 000 1 066 000 1 145 000 1 115 000 EBITA 152 000 EBITA 1 287 700 Short term debt 492 000 319 000 445 000 391 000 492 000 264 000 342 000 Net Margin 0,06 Net Margin 0,12 Total Liability and Equity 2 745 000 2 709 000 2 750 000 2 677 000 2 745 000 2 576 000 2 705 000 ROE 6,47 ROE 14,001 Net Interestbearing Debt 1 136 000 1 137 000 1 214 000 1 101 000 1 136 000 1 158 000 1 244 000 Chg Operating Activities -10 000 49 000 69 000 6 000 -21 000 47 000 137 000 Chg Investing activities -9 000 -31 000 -69 000 -9 000 -24 000 -9 000 -6 000 Chg Financing activities 125 000 -13 000 29 000 -16 000 -27 000 -29 000 -11 000 Chg Cash and Liquids 105 000 5 000 29 000 -19 000 -72 000 9 000 120 000 Share Price Company: Austevoll Seafood ASA 44,0 Ticker: AUSS 42,0 40,0 Company Presentation: The Austevoll Seafood group is a significant player 38,0 in pelagic fishery, fishmeal/oil production, processing of fish for human consumption, sale of fish products and salmon farming. 36,0 0 Period Oct 05 Nov 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010073489 Isin NO0010160484 Revenue 441 933 1 077 759 884 534 Round Lot 200,00 Round Lot 500,00 Other Income 0 0 0 Reg.Share Capital (mill) 89 111,81 Reg.Share Capital (mill) 1 538,93 Operating Costs 333 363 817 821 701 148 Number of Shares 178 223,62 Number of Shares 15 389,25 EBITDA 108 570 259 938 183 386 Currency NOK Currency NOK Depreciation -56 123 183 640 65 269 Gics 30 Gics 30 EBIT 164 693 76 298 118 117 Listed From 11-10-06 Listed From 19-10-06 Net Financials 3 866 -38 545 -1 596 Par Value 0,50 Par Value 0,10 Pre Tax Profit 168 559 37 753 116 521 Number of days traded 54 Number of days traded 48 Tax 39 783 8 922 30 877 Avg. Trades pr Day 18,13 Avg. Trades pr Day 11,27 Minority Interests 1 259 591 6 075 Net Income 127 517 28 240 79 569 Key Figures 2006 Key Figures 2006 EPS 0,00 0,00 0,45 (Preliminary figures) (Preliminary figures) Price Book 0,00 0,00 2,08 Long Term Fixed Assets 4 036 219 4 044 680 4 147 304 Operating result per Share 2,60 Operating result per Share -1,44 Current Assets 2 029 294 1 420 583 2 699 002 BVPS 19,94 BVPS 13,75 Cash 889 207 716 038 0 Gross Margin 1,00 Gross Margin 1,00 Total Assets 6 954 720 6 181 301 6 846 306 EBITDA Margin 0,22 EBITDA Margin -0,54 Total Equity 2 943 582 2 920 048 3 637 000 EBITDA 586 818 EBITDA -18 207 Long term debt 1 361 662 1 269 790 1 383 008 EBITA 378 203 EBITA -22 090 Short term debt 1 977 208 1 289 499 1 186 630 Net Margin 0,10 Net Margin -0,60 Total Liability and Equity 6 954 720 6 181 301 6 846 306 ROE 4,30 ROE -5,55 Net Interestbearing Debt 1 891 648 862 064 1 997 461 Chg Operating Activities 681 551 282 358 391 Chg Investing activities -875 090 -124 051 -155 619 Chg Financing activities 1 627 263 -600 400 492 682 Chg Cash and Liquids 752 854 -173 169 695 454

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 114 Share Price Company: Cermaq ASA 100,0 80,0 Ticker: CEQ 60,0 40,0 Company Presentation: Cermaq is a leading international group of companies 20,0 with activities in fish farming, salmonid feed production and research in aquaculture. Cermaq has operations in Norway, Scotland, Canada and Chile. 0 Period Oct 05 May 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010269129 (All figures are in NOK ‘ 000) Isin NO0010003882 Round Lot 200,00 Revenue 903 300 1 093 100 1 588 100 1 778 900 1 477 500 1 643 200 2 179 600 2 233 400 Round Lot 100,00 Reg.Share Capital (mill) 243 230,08 Other Income 0 0 0 0 0 0 58 500 0 Reg.Share Capital (mill) 925 000,00 Number of Shares 48 646,02 Operating Costs 874 500 912 800 1 292 800 1 415 000 1 281 300 1 247 300 1 724 200 1 819 700 Number of Shares 92 500,00 Currency NOK EBITDA 28 800 180 300 295 300 363 900 196 200 395 900 513 900 413 700 Currency NOK Gics 30 Depreciation 55 900 56 900 59 300 64 100 64 900 69 400 61 400 143 100 Gics 30 Listed From 13-05-05 EBIT -27 100 123 400 236 000 299 800 131 300 326 500 452 500 270 600 Listed From 24-10-05 Par Value 5,00 Net Financials -4 500 -9 100 -13 400 -23 400 -17 700 -4 500 -3 300 -21 600 Par Value 10,00 Number of days traded 240 Pre Tax Profit -52 300 103 900 318 000 361 200 113 600 322 000 449 200 249 000 Number of days traded 251 Avg. Trades pr Day 14,50 Tax -17 000 8 400 27 800 51 300 29 800 80 500 96 900 49 800 Avg. Trades pr Day 218,25 Minority Interests 2 400 Key Figures 2006 Net Income -35 300 95 500 287 800 309 900 83 800 241 500 352 300 199 200 Key Figures 2006 (Preliminary figures) EPS -0,40 1,10 0,90 3,37 0,91 2,61 3,81 2,15 (Preliminary figures) Price Book 1,44 2,24 2,18 1,62 1,98 Operating result per Share 3,13 Long Term Fixed Assets 3 273 700 3 302 000 3 594 000 3 733 400 3 683 600 3 615 500 3 667 200 3 537 500 Operating result per Share 3,94 BVPS 19,80 Current Assets 1 491 800 1 729 500 2 497 900 2 512 300 2 286 100 2 513 200 3 075 600 3 092 400 BVPS 46,07 Gross Margin 1,00 Cash 325 700 145 300 167 700 389 800 504 700 490 800 202 800 264 900 Gross Margin 0,40 EBITDA Margin 0,11 Total Assets 5 091 200 5 176 800 6 259 600 6 635 500 6 474 400 6 619 500 6 945 600 6 894 800 EBITDA Margin 0,21 EBITDA 235 000 Total Equity 2 570 000 2 594 400 2 915 800 3 522 500 3 565 600 3 562 600 3 991 700 4 261 700 EBITDA 1 568 400 EBITA 152 000 Long term debt 1 326 900 1 379 300 1 506 300 1 392 900 1 353 500 1 283 900 946 200 928 800 EBITA 1 287 700 Net Margin 0,06 Short term debt 1 000 700 1 054 600 1 687 400 1 482 600 1 320 900 1 470 600 1 646 500 1 299 000 Net Margin 0,12 ROE 6,47 Total Liability and Equity 5 091 200 5 176 800 6 259 600 6 635 500 6 474 400 6 619 600 6 945 700 6 894 800 ROE 14,001 Net Interestbearing Debt 1 001 200 1 234 000 1 338 600 1 003 100 1 210 600 1 108 600 837 100 738 100 Chg Operating Activities -86 800 -79 900 184 500 437 400 221 100 297 300 392 400 222 500 Chg Investing activities -24 700 -69 400 -358 900 -112 800 -41 200 -52 500 -77 200 -182 200 Chg Financing activities -27 400 -176 800 197 200 -110 000 -56 000 -244 400 -616 000 15 400 Chg Cash and Liquids -129 300 -309 700 22 500 222 000 114 800 -13 700 -288 100 41 300 Share Price Company: Codfarmers ASA 27,0 Ticker: COD 26,0 25,0 Company Presentation: Codfarmers is one of the leading developers in 24,0 the new industry of cod farming. Codfarmers is among the companies with the largest licensed production capacity in the industry. 23,0 0 Period Oct 05 May 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010073489 (All figures are in NOK ‘ 000) Isin NO0010160484 Round Lot 200,00 Revenue 10 097 18 017 Round Lot 500,00 Reg.Share Capital (mill) 89 111,81 Other Income 0 0Reg.Share Capital (mill) 1 538,93 Number of Shares 178 223,62 Operating Costs 12 398 25 983 Number of Shares 15 389,25 Currency NOK EBITDA -2 301 -7 966 Currency NOK Gics 30 Depreciation 851 1 583 Gics 30 Listed From 11-10-06 EBIT -3 152 -9 549 Listed From 19-10-06 Par Value 0,50 Net Financials 382 838 Par Value 0,10 Number of days traded 54 Pre Tax Profit -2 770 -8 711 Number of days traded 48 Avg. Trades pr Day 18,13 Tax 0 0Avg. Trades pr Day 11,27 Minority Interests 0 0 Key Figures 2006 Net Income -2 770 -8 711 Key Figures 2006 (Preliminary figures) EPS -0,18 -0,57 (Preliminary figures) Price Book 0,00 1,91 Operating result per Share 2,60 Long Term Fixed Assets 20 242 23 120 Operating result per Share -1,44 BVPS 19,94 Current Assets 56 849 72 248 BVPS 13,75 Gross Margin 1,00 Cash 49 343 136 110 Gross Margin 1,00 EBITDA Margin 0,22 Total Assets 126 434 231 478 EBITDA Margin -0,54 EBITDA 586 818 Total Equity 112 638 211 593 EBITDA -18 207 EBITA 378 203 Long term debt 3 384 3 139 EBITA -22 090 Net Margin 0,10 Short term debt 10 411 16 746 Net Margin -0,60 ROE 4,30 Total Liability and Equity 126 433 231 478 ROE -5,55 Net Interestbearing Debt -45 959 -132 971 Chg Operating Activities -29 020 -45 306 Chg Investing activities -7 692 -12 118 Chg Financing activities 83 889 191 386 Chg Cash and Liquids 47 177 133 962

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 115 Share Price Company: Domstein ASA 8,0 Ticker: DOM 6,0 4,0

Company Presentation: Domstein delivers raw materials and semi-finished 2,0 products to the seafood industry around the world. In Scandinavia Domstein is one of the leading suppliers of value added products. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003072407 Revenue 441 700 268 600 395 600 626 000 489 700 337 800 372 600 718 600 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 34 976,20 Operating Costs 419 300 263 000 390 500 603 200 472 200 345 800 381 100 682 200 Number of Shares 69 952,40 EBITDA 22 400 5 600 5 100 22 800 17 500 -8 000 -8 500 36 400 Currency NOK Depreciation 9 400 9 500 9 700 11 000 10 600 10 800 11 000 13 300 Gics 30 EBIT 13 000 -3 900 -4 600 11 800 6 900 -18 800 -19 500 23 100 Listed From 29-06-01 Net Financials -4 500 185 300 -6 900 -6 100 -6 800 -8 600 -10 700 -12 100 Par Value 0,50 Pre Tax Profit 8 500 181 500 -11 500 5 700 100 -27 400 -30 200 11 000 Number of days traded 241 Tax 500 -3 900 -3 100 1 900 -600 200 0 -50 500 Avg. Trades pr Day 19,61 Minority Interests 270 270 0 0 100 0 350 220 Net Income 7 730 185 130 -8 400 3 800 600 -27 600 -30 550 61 280 Key Figures 2006 EPS 0,13 2,99 -0,12 0,05 0,01 -0,40 -0,44 0,88 (Preliminary figures) Price Book 1,71 1,20 1,19 1,06 1,53 1,45 1,43 1,10 Long Term Fixed Assets 763 300 536 800 538 800 579 400 557 100 586 300 609 400 669 200 Operating result per Share -0,12 Current Assets 459 100 439 900 554 800 641 800 616 200 607 300 557 600 678 000 BVPS 4,55 Cash 0 13 800 21 600 26 400 0 16 900 12 000 24 200 Gross Margin 0,23 Total Assets 1 222 400 990 500 1 115 200 1 247 600 1 173 300 1 210 500 1 179 000 1 371 400 EBITDA Margin 0,02 Total Equity 196 200 437 700 354 500 361 800 324 100 284 200 251 300 319 900 EBITDA 37 400 Long term debt 425 500 281 200 262 600 300 000 292 200 463 600 492 800 436 400 EBITA -8 300 Short term debt 585 700 258 100 486 900 572 400 543 400 448 800 418 600 607 600 Net Margin 0,00 Total Liability and Equity 1 222 400 990 500 1 115 200 1 247 500 1 173 300 1 210 300 1 179 000 1 371 400 ROE 0,20 Net Interestbearing Debt 857 100 386 500 241 000 573 400 639 600 669 400 722 600 724 700 Chg Operating Activities -37 300 -44 000 -19 100 -98 700 -21 000 -16 600 -39 100 -18 800 Chg Investing activities -24 700 406 500 401 300 354 800 -23 100 -56 200 -49 000 -71 900 Chg Financing activities 50 700 -366 200 -377 800 -246 800 38 600 63 300 73 500 88 100 Chg Cash and Liquids -11 400 -3 800 4 100 8 900 -5 500 -9 500 -14 500 -2 200 Share Price Company: Lerøy Seafood Group ASA 140,0 Ticker: LSG 100,0

60,0 Company Presentation: Lerøy Seafood Group ASA is one of Norway’s leading seafood companies with world-wide trade. The company has 20,0 significant ownership in seafood production in Norway, Sweden and the UK. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003096208 Revenue 831 848 849 218 940 458 1 392 929 1 113 819 1 342 152 1 399 602 1 761 019 Round Lot 100,00 Other Income 0 0 0 0 0 0 1 674 0 Reg.Share Capital (mill) 42 777,37 Operating Costs 773 382 782 289 833 781 1 274 183 940 336 1 153 120 1 170 503 1 525 757 Number of Shares 42 777,37 EBITDA 58 466 66 929 106 677 118 746 173 483 189 032 230 773 235 262 Currency NOK Depreciation 10 215 10 214 -14 146 14 107 14 657 19 444 22 875 27 731 Gics 30 EBIT 48 251 56 715 120 823 104 639 158 826 169 588 207 898 207 531 Listed From 03-06-02 Net Financials 4 102 8 142 22 405 25 888 3 343 26 990 46 506 23 728 Par Value 1,00 Pre Tax Profit 52 353 64 857 143 228 130 527 162 169 196 578 254 404 231 259 Number of days traded 251 Tax 12 586 15 035 33 843 28 555 43 008 46 113 73 023 58 359 Avg. Trades pr Day 137,02 Minority Interests 0 0 0 0 0 0 0 0 Net Income 39 767 49 822 109 385 101 972 119 161 150 465 181 381 172 900 Key Figures 2006 EPS 1,09 1,32 2,82 2,60 3,03 3,75 4,26 4,07 (Preliminary figures) Price Book 1,43 2,03 1,83 2,26 3,28 2,69 2,11 2,03 Long Term Fixed Assets 732 824 757 514 1 011 929 1 054 088 1 099 064 1 471 197 2 875 581 2 932 343 Operating result per Share 16,46 Current Assets 721 621 769 649 1 114 611 1 302 087 1 235 071 1 492 080 2 096 686 2 163 860 BVPS 54,25 Cash 429 886 311 002 263 982 191 157 304 313 481 297 437 335 509 872 Gross Margin 0,27 Total Assets 1 884 331 1 838 165 2 390 522 2 547 332 2 638 448 3 444 574 5 409 602 5 606 075 EBITDA Margin 0,14 Total Equity 971 562 981 993 1 166 480 1 275 946 1 393 693 1 887 939 2 115 957 2 340 719 EBITDA 768 464 Long term debt 396 384 394 878 589 107 612 782 614 852 729 732 2 234 747 2 029 169 EBITA 683 757 Short term debt 512 022 458 532 632 173 654 413 625 712 822 502 1 051 049 1 227 318 Net Margin 0,12 Total Liability and Equity 1 884 331 1 838 165 2 390 522 2 547 332 2 638 448 3 444 574 5 409 602 5 606 075 ROE 21,04 Net Interestbearing Debt 161 050 202 080 478 086 552 707 390 931 343 373 1 971 805 1 901 300 Chg Operating Activities 74 330 18 100 57 463 2 860 223 923 150 675 32 025 140 251 Chg Investing activities -8 547 -24 398 -99 683 -31 074 -41 831 -306 267 -747 655 -52 648 Chg Financing activities 103 867 -112 586 -5 562 -57 783 -68 936 332 576 671 668 -15 066 Chg Cash and Liquids 169 650 -118 884 -47 782 -85 997 113 156 176 984 -43 962 72 537

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 116 Share Price Company: Marine Farms ASA 20,0 Ticker: MAFA 16,0 12,0 8,0 Company Presentation: Marine Farms is an international seafood group with leading market positions in salmon farming in the UK and seabass/sea- 4,0 bream in Spain. The Group also develops new species such as cobia in Belize. 0 Period Oct 06 Nov 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010049059 Revenue 118 250 168 958 178 029 154 993 Round Lot 500,00 Other Income - 12 388 0 0 Reg.Share Capital (mill) 66 637,26 Operating Costs 101 161 125 438 132 651 131 362 Number of Shares 33 318,63 EBITDA 17 089 55 908 45 378 23 631 Currency NOK Depreciation 8 086 10 563 -10 772 7 284 Gics 30 EBIT 9 003 45 345 56 150 16 347 Listed From 12-10-06 Net Financials (4 217) -873 193 -9 860 Par Value 2,00 Pre Tax Profit 4 786 44 472 56 343 6 487 Number of days traded 48 Tax 4 283 12 350 15 550 -2 122 Avg. Trades pr Day 40,94 Minority Interests (937) 758 -1 324 2 485 Net Income 1 440 31 364 42 117 6 124 Key Figures 2006 EPS 0,03 0,00 1,30 0,18 (Preliminary figures) Price Book (null) 0,00 0,00 1,50 Long Term Fixed Assets 225 668 239 450 287 496 297 058 Operating result per Share 2,83 Current Assets 288 634 359 131 504 915 517 113 BVPS 12,16 Cash 31 606 43 639 71 425 40 989 Gross Margin 0,58 Total Assets 545 908 642 220 863 836 855 160 EBITDA Margin 0,22 Total Equity 174 560 230 096 379 290 405 243 EBITDA 129 022 Long term debt - 184 200 274 530 118 821 EBITA 94 221 Short term debt 175 102 187 235 210 015 277 068 Net Margin 0,13 Total Liability and Equity 545 908 642 220 863 835 855 160 ROE 11,14 Net Interestbearing Debt (31 606) 195 495 203 105 227 035 Chg Operating Activities - 26 774 -64 233 2 235 Chg Investing activities - -13 720 -44 512 -28 081 Chg Financing activities - 449 131 687 -92 Chg Cash and Liquids - 12 033 27 785 -30 436 Share Price Company: Marine Harvest ASA 8,0 Ticker: MHG 6,0 4,0

Company Presentation: Marine Harvest is the world’s leading seafood 2,0 company. We offer our customers and consumers a wide range of seafood products and produce one third of the world’s farmed salmon and trout. 0 Period The company is present in 20 countries and has 9 000 employees worldwide. Jan 06 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003054108 Revenue 459 300 461 800 456 400 655 500 668 500 1 668 600 1 620 400 2 076 800 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 6 100 Reg.Share Capital (mill) 2 604 486,25 Operating Costs 400 100 425 200 323 300 511 900 512 800 1 364 100 1 325 500 1 708 200 Number of Shares 3 472 648,33 EBITDA 59 200 36 600 133 100 143 600 155 700 304 500 294 900 374 700 Currency NOK Depreciation 39 400 57 100 35 200 46 500 46 600 77 300 81 000 91 900 Gics 30 EBIT 19 800 -20 500 97 900 97 100 109 100 227 200 213 900 282 800 Listed From 01-07-97 Net Financials -27 100 -12 300 -15 800 -41 000 44 100 -12 400 172 000 26 100 Par Value 0,75 Pre Tax Profit -7 300 -32 800 82 100 56 100 153 200 214 800 385 900 321 400 Number of days traded 250 Tax 0 0 200 -20 400 -1 600 27 300 23 900 -785 500 Avg. Trades pr Day 2 022,98 Minority Interests 0 0 0 1 900 0 0 3 700 500 Net Income -7 300 -32 800 81 900 74 600 154 800 187 500 358 300 1 106 400 Key Figures 2006 EPS -0,01 -0,05 0,07 0,06 0,10 0,06 0,10 0,32 (Preliminary figures) Price Book 1,88 2,17 1,98 1,95 2,17 1,95 1,43 1,46 Long Term Fixed Assets 1 766 600 1 765 600 1 737 200 2 195 000 4 352 300 7 945 100 8 200 600 14 616 000 Operating result per Share 0,28 Current Assets 997 100 960 800 1 404 300 1 487 900 10 860 100 12 519 200 13 446 600 10 555 400 BVPS 3,91 Cash 181 800 305 400 0 152 700 401 000 775 400 331 000 2 182 500 Gross Margin 0,52 Total Assets 2 945 500 3 031 800 3 141 500 3 835 600 15 613 400 21 239 700 21 978 200 27 353 800 EBITDA Margin 0,20 Total Equity 371 000 1 060 100 1 158 700 1 496 900 9 094 700 11 991 400 12 467 400 13 589 100 EBITDA 1 151 000 Long term debt 2 162 700 1 544 200 1 534 000 1 674 100 5 685 300 7 047 300 7 247 600 9 527 200 EBITA 835 100 Short term debt 365 900 397 500 448 800 664 800 833 400 1 773 400 1 791 100 4 237 500 Net Margin 0,33 Total Liability and Equity 2 945 500 3 031 800 3 141 500 3 835 800 15 613 400 21 239 800 21 978 500 27 353 800 ROE 14,09 Net Interestbearing Debt 1 980 900 1 238 800 1 534 000 1 521 400 5 284 300 6 841 900 7 539 100 8 928 000 Chg Operating Activities 17 500 19 200 3 900 15 100 202 300 276 000 37 800 73 800 Chg Investing activities -2 400 22 300 -17 500 -311 400 -11 303 000 -121 000 -135 600 -53 600 Chg Financing activities 1 000 89 400 -56 200 213 600 11 350 400 217 100 -362 700 1 856 700 Chg Cash and Liquids 14 100 123 500 -71 300 -81 600 248 300 374 500 -460 500 1 869 100

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 117 Share Price Company: Rieber & Søn ASA 58,0 Ticker: RIE 54,0 50,0

Company Presentation: One of Norway`s leading food groups. Main markets in 46,0 Nordic, Central- and Eastern Europe. Owns brands like Toro, Denja, King Oscar, K-salat, Delecta, Vitana, Frödinge and Mr. Lee. Vision: ”Local Taste Champion”, 0 Period leading brand builder through development of products based on consumers’ Jan 06 Jan 06 Dec 06 needs.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004951104 Revenue 845 000 843 000 891 000 978 000 1 011 000 997 000 1 058 000 1 197 000 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 795 757,40 Operating Costs 719 000 758 000 755 000 860 000 867 000 892 000 905 000 1 061 000 Number of Shares 79 575,74 EBITDA 126 000 85 000 136 000 118 000 144 000 105 000 153 000 136 000 Currency NOK Depreciation 39 000 38 000 42 000 44 000 43 000 43 000 50 000 58 000 Gics 30 EBIT 87 000 47 000 94 000 74 000 101 000 62 000 103 000 78 000 Listed From 02-01-80 Net Financials -5 000 -6 000 -8 000 -9 000 -7 000 -9 000 -12 000 1 000 Par Value 10,00 Pre Tax Profit 82 000 41 000 69 000 39 000 94 000 89 000 91 000 79 000 Number of days traded 198 Tax 25 000 13 000 21 000 14 000 28 000 26 000 29 000 19 000 Avg. Trades pr Day 6,41 Minority Interests 0 0 0 0 0 0 0 0 Net Income 57 000 28 000 48 000 25 000 66 000 63 000 62 000 60 000 Key Figures 2006 EPS 0,75 0,37 0,63 0,31 0,87 0,83 0,82 0,79 (Preliminary figures) Price Book 2,83 3,07 3,23 3,15 3,05 2,97 2,85 2,80 Long Term Fixed Assets 1 859 000 1 831 000 1 942 000 2 091 000 2 082 000 2 078 000 2 598 000 2 626 000 Operating result per Share 4,54 Current Assets 984 000 982 000 1 011 000 1 029 000 1 150 000 1 137 000 1 243 000 1 218 000 BVPS 19,97 Cash 154 000 62 000 116 000 100 000 59 000 421 000 70 000 84 000 Gross Margin 0,56 Total Assets 2 997 000 2 875 000 3 069 000 3 220 000 3 291 000 3 636 000 3 911 000 3 928 000 EBITDA Margin 0,13 Total Equity 1 589 000 1 259 000 1 320 000 1 271 000 1 343 000 1 312 000 1 438 000 1 589 000 EBITDA 537 000 Long term debt 683 000 919 000 951 000 985 000 994 000 1 327 000 1 356 000 1 241 000 EBITA 344 000 Short term debt 476 000 480 000 556 000 612 000 640 000 663 000 726 000 742 000 Net Margin 0,06 Total Liability and Equity 2 997 000 2 875 000 3 069 000 3 220 000 3 291 000 3 636 000 3 911 000 3 928 000 ROE 10,19 Net Interestbearing Debt 529 000 857 000 835 000 885 000 935 000 906 000 1 286 000 1 157 000 Chg Operating Activities -3 000 16 000 158 000 297 000 -27 000 141 000 250 000 398 000 Chg Investing activities -66 000 -91 000 -222 000 -375 000 -36 000 -79 000 -588 000 -610 000 Chg Financing activities 32 000 -54 000 -11 000 -13 000 20 000 257 000 306 000 194 000 Chg Cash and Liquids -37 000 -129 000 -75 000 -91 000 -43 000 319 000 -32 000 -18 000 Share Price Company: Synnøve Finden ASA 45,0 Ticker: SFM 35,0 25,0 Company Presentation: SFM produces dairy products. Over a six-year period 15,0 the turnover has grown from NOK 10 to 600 million. The 100%-owned subsidary Nordic Lunch AB has a turnover of NOK 170 million. 5,0 0 Period Jan 06 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003073108 Revenue 268 300 364 500 322 100 219 600 260 300 270 700 287 200 189 300 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 25 499,99 Operating Costs 257 800 347 100 312 100 246 900 248 700 249 800 276 500 200 700 Number of Shares 12 750,00 EBITDA 10 500 17 400 10 000 -27 300 11 600 20 900 10 700 -11 400 Currency NOK Depreciation 5 700 6 100 6 100 2 900 5 800 5 600 6 000 15 800 Gics 30 EBIT 4 800 11 300 3 900 -30 200 5 800 15 300 4 700 -27 200 Listed From 06-07-98 Net Financials -4 300 -800 4 900 -4 100 26 700 900 -3 500 -11 900 Par Value 2,00 Pre Tax Profit 500 10 500 8 800 -34 300 32 500 16 200 1 200 -39 100 Number of days traded 243 Tax 100 2 000 2 500 -8 600 500 4 500 700 -14 900 Avg. Trades pr Day 14,33 Minority Interests 0 0 0 0 0 0 0 0 Net Income 400 8 500 6 300 -25 700 32 000 11 700 500 -24 200 Key Figures 2006 EPS 0,06 0,94 0,67 -2,39 2,76 1,01 0,04 -1,90 (Preliminary figures) Price Book 2,45 2,13 2,14 1,81 1,48 1,66 1,60 1,53 Long Term Fixed Assets 291 800 280 700 284 600 320 900 382 500 378 100 323 400 365 000 Operating result per Share -0,15 Current Assets 289 600 392 400 385 600 350 400 311 300 354 700 489 500 473 100 BVPS 19,37 Cash 4 600 16 600 10 000 30 700 35 100 37 900 26 000 22 200 Gross Margin 1,00 Total Assets 586 000 689 700 680 200 702 000 728 900 770 700 838 900 860 300 EBITDA Margin 0,04 Total Equity 99 100 151 500 162 900 194 200 226 900 238 300 275 400 247 000 EBITDA 30 100 Long term debt 251 500 195 200 231 500 85 700 206 400 206 700 226 400 131 600 EBITA -1 800 Short term debt 235 400 343 000 285 800 422 100 295 600 325 700 337 200 481 700 Net Margin 0,02 Total Liability and Equity 586 000 689 700 680 200 702 000 728 900 770 700 839 000 860 300 ROE 4,68 Net Interestbearing Debt 246 900 178 600 221 500 55 000 171 300 168 800 200 400 180 200 Chg Operating Activities -27 800 77 600 -63 500 -26 700 900 -200 -8 600 -18 300 Chg Investing activities -25 400 20 100 -32 500 -58 200 -59 400 -67 100 -91 400 -78 400 Chg Financing activities 22 800 -79 300 71 000 80 500 68 600 81 100 118 300 100 700 Chg Cash and Liquids -30 400 18 400 -25 000 -4 400 10 100 13 800 18 300 4 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 118 Health Care Health Care sector – small but exciting?

The healthcare sector represents only 0.3% of the total market capitalisation on the Oslo Stock Exchange. This insignificant position is due to the absence of any major international healthcare industry players listed in Oslo.

Hans Peter BøhN | Analyst, Fondsfinans ASA

Consequently the healthcare sector receives relatively little attention from investors and analysts. Daily trading volumes are low, averaging just over 0.30% of the total outstanding shares within the sector.

The index has thirteen member companies representing the medical diagnostics, pharmaceutical, laboratory, medical equipment, software and health food industries. At the end of 2006 the joint market capitalisation was NOK 5.9 bn. Total revenues were NOK 902m and as a group they made a loss of NOK 4.6m for the year. Total return for the healthcare (OSE35GI) index was 17% compared with 33% for the all-share (OSEAX) Index.

In-vitro diagnostic tests provider Axis-Shield with a year end market cap of 1.7 bn is the biggest of the group. The company is based in Dundee, Scotland has its primary listing on the London Stock Exchange. Over the last five years Axis-Shield has invested over GBP 50m in R&D and developed new technologies which have yet to prove their earnings potential. Investors are betting on the success of the Afinion instrument for the Point-of-Care segment, launched in 4q06. During 2006 Axis-Shield saw a return of -5% in the face of delays in the Afinion development and increasing generic competition for its Homocysteine test.

PhotoCure is a developer of light-activated pharmaceuticals for diagnosis and treatment of superficial malignant and pre-malignant conditions of skin and mucous membranes. Its first product Metvix failed to impress investors as revenues reached NOK 38m in 2005 and NOK 52m in 2006 – the fifth year after initial launch. Investors are now eagerly following the sales of the second product Hexvix, for in-vivo diagnosis of bladder cancer which was licensed to GE in February 2006. PhotoCure, with a year-end market cap of NOK 1.2 bn gave a shareholder return of 13% during 2006.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 120 The key technology of Biotec Pharmacon is related to beta glucans, a group of organic com- pounds with medicinal properties. Existing products are within consumer health, animal health and biochemicals, while most investor interest is related to the clinical development of immune modulating beta glucans aimed for the pharmaceutical market. Encouraging results from early clinical trials contributed to an impressive 100% return in 2006.

A new entrant in 2006, Clavis Pharma seeks to improve existing chemotherapeutic agents with its proprietary lipid vector drug delivery technology. The leading drug candidate is in Phase II clinical development. By year-end, shareholder return was 35% from the IPO in July 2006.

Profdoc develops and markets software for patient records, communications, medical laboratories as well as ASP for the healthcare industry, primarily in Norway and Sweden. The year 2006 saw 25% organic revenue growth and increasing contribution from Denmark and new markets. The portfolio of customers paying annual service fees climbed 17% and the share price gained 20% through the year.

The remaining seven companies in the sector are “Lilliputians” with a year-end market cap in the range from NOK 150m to 500m.

Worth special mention is Natural which saw a 104% return through 2006 as 90% of the shares were taken over by Aker BioMarine as the latter wish to use the company as a vehicle for developing branded, patented and documented medicinal products based on krill oil.

Navamedic was listed on the OSE in March 2006. Glucomed, its product based on glucosamine extracted from prawn shells was approved for treatment of osteoartritis in 25 EU/EAA countries and the shares had gained 35% by the year end.

In summary, the Healthcare sector on the Oslo Stock Exchange represent a diverse group of relatively small companies, most with technological leadership within their particular field. Some of them may turn out to be undiscovered gems for investors with sufficient patience, but low liquidity will likely preclude large volume short-term trading.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 121 Share Price Company: Axis-Shield 50,0 Ticker: ASD 40,0 30,0 20,0 Company Presentation: Anglo/Norweg Group.Develops/manufactures/supplies in vitro diagnostic kits to accurately & quickly diagnose a patient’s medical 10,0 cond. Key divisions-Lab/Point of Care Diagnostics & Direct Distrib. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin GB0008039975 Revenue 387 853 Round Lot 200,00 Other Income 0Reg.Share Capital (mill) 5 543,31 Operating Costs 373 980 Number of Shares 15 838,03 EBITDA 13 873 Currency GBP Depreciation 0Gics 35,00 EBIT 13 873 Listed From 02-06-2007 Net Financials 332 Par Value 0,35 Pre Tax Profit 14 205 Number of days traded 221,00 Tax 578 Avg. Trades pr Day 13,69 Minority Interests 0 Net Income 13 627 Key Figures 2006 EPS 0,28 (Preliminary figures) Price Book 3,37 Long Term Fixed Assets 393 373 Operating result per Share 0,48 Current Assets 242 722 BVPS 11,79 Cash 119 355 Gross Margin 0,53 Total Assets 755 451 EBITDA Margin 0,03 Total Equity 496 535 EBITDA 23 096 Long term debt 88 906 EBITA 23 096 Short term debt 153 522 Net Margin 0,14 Total Liability and Equity 755 451 ROE Net Interestbearing Debt -22 769 Chg Operating Activities 10 285 Chg Investing activities -39 419 Chg Financing activities 6 181 Chg Cash and Liquids -22 204 Share Price Company: Biotec Pharmacon ASA 50,0 Ticker: BIOTEC 40,0 30,0 20,0 Company Presentation: Biotec Pharmacon is a biopharmaceutical company that develops and manufactures new products for treatment and prevention of 10,0 immune related diseases, in particular cancer and chronic ulcers in humans. 0 Period Nov 05 June 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010014632 Revenue 17 913 20 437 19 091 18 393 18 199 16 951 19 508 Round Lot 200,00 Other Income 0 0 0 1 165 2 736 2 532 1 912 Reg.Share Capital (mill) 21 489,01 Operating Costs 20 021 20 954 24 630 24 797 23 403 31 568 38 071 Number of Shares 21 489,01 EBITDA -2 108 -517 -5 539 -5 239 -2 468 -12 085 -16 651 Currency NOK Depreciation 1 610 959 819 890 888 899 1 063 Gics 35 EBIT -3 718 -1 476 -6 358 -6 129 -3 356 -12 984 -17 714 Listed From 04-11-05 Net Financials 1 76 636 551 540 521 0 Par Value 1,00 Pre Tax Profit -3 717 -1 400 -5 722 -5 578 -2 816 -12 463 -17 714 Number of days traded 221 Tax -740 -566 -1 133 -1 501 -722 -4 090 0 Avg. Trades pr Day 11,99 Minority Interests 0 0 0 0 0 0 0 Net Income -2 977 -834 -4 589 -4 077 -2 094 -8 373 -17 714 Key Figures 2006 EPS -0,17 -0,04 -0,21 -0,19 -0,10 -0,41 -0,85 (Preliminary figures) Price Book 0,00 0,00 3,62 7,81 6,90 9,14 8,72 Long Term Fixed Assets 26 085 25 989 30 056 30 704 30 609 35 810 41 119 Operating result per Share -1,93 Current Assets 15 329 18 479 15 653 17 921 20 386 24 156 18 659 BVPS 4,92 Cash 12 284 6 122 94 884 84 462 77 609 61 510 63 969 Gross Margin 0,81 Total Assets 53 698 50 590 140 593 133 087 128 604 121 476 123 747 EBITDA Margin -0,45 Total Equity 46 076 42 174 127 758 123 478 118 409 110 748 105 712 EBITDA -36 443 Long term debt 0 0 0 0 0 0 0 EBITA -40 183 Short term debt 7 622 8 416 12 835 9 610 10 194 10 728 18 034 Net Margin -0,33 Total Liability and Equity 53 698 50 590 140 593 133 088 128 603 121 476 123 746 ROE -13,24 Net Interestbearing Debt -12 284 -6 122 -94 884 -84 462 -77 609 -61 510 -63 969 Chg Operating Activities -3 813 -2 796 -578 -10 110 -3 463 -15 551 -3 000 Chg Investing activities -443 -296 -1 119 -66 -124 -899 -1 063 Chg Financing activities 0 -3 048 90 759 0 -3 048 0 7 096 Chg Cash and Liquids -4 256 -6 140 89 062 -10 176 -6 635 -16 450 3 033

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 122 Share Price Company: Clavis Pharma ASA 70,0 Ticker: CLAVIS 50,0 20,0 Company Presentation: Clavis Pharma is a biopharmaceutical company creating patented derivatives of existing drugs with fatty acids (Lipid Vector 10,0 Technology). The drugs offer improved efficacy and reduced side effects. 0 Period July 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010308240 Revenue 335 250 2 070 Round Lot 200,00 Other Income 0 0 285 Reg.Share Capital (mill) 13 575,65 Operating Costs 19 209 9 759 18 335 Number of Shares 13 575,65 EBITDA -18 874 -9 509 -15 980 Currency NOK Depreciation 2 2 3 Gics 35 EBIT -18 876 -9 511 -15 983 Listed From 07-07-06 Net Financials 71 1 518 1 636 Par Value 1,00 Pre Tax Profit -18 805 -7 993 -14 347 Number of days traded 100 Tax 0 0 0 Avg. Trades pr Day 7,79 Minority Interests 0 0 0 Net Income -18 805 -7 993 -14 347 Key Figures 2006 EPS 0,00 0,00 -1,06 (Preliminary figures) Price Book 0,00 2,80 2,92 Long Term Fixed Assets 20 18 14 Operating result per Share -5,33 Current Assets 246 339 3 241 3 460 BVPS 15,43 Cash 7 883 225 037 216 190 Gross Margin 1,00 Total Assets 254 242 228 296 219 664 EBITDA Margin -15,93 Total Equity 233 550 221 922 209 507 EBITDA -53 819 Long term debt 0 0 0 EBITA -53 830 Short term debt 20 692 6 374 10 157 Net Margin -14,95 Total Liability and Equity 254 242 228 296 219 664 ROE -24,95 Net Interestbearing Debt -7 883 -225 037 -216 190 Chg Operating Activities -14 968 -10 579 9 769 Chg Investing activities -26 0 5 Chg Financing activities 4 694 227 733 917 Chg Cash and Liquids -10 300 217 154 10 691 Share Price Company: ContextVision AB 70,0 Ticker: COV 50,0 20,0 Company Presentation: ContextVision develops, produces, markets and licenses imaging products, with the aim of increasing the value of the images 10,0 or sequences of images through image enhancement and/or image analysis. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin SE0000371239 Revenue 9 291 17 145 8 611 13 288 11 228 10 624 9 496 13 922 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 435 Reg.Share Capital (mill) 2 106,51 Operating Costs 8 752 5 917 7 164 12 179 8 942 9 233 8 709 11 509 Number of Shares 8 426,05 EBITDA 539 11 228 1 447 1 110 2 286 1 391 788 2 848 Currency SEK Depreciation 232 252 243 242 250 255 261 257 Gics 35 EBIT 307 10 976 1 203 868 2 036 1 136 527 2 590 Listed From 17-03-97 Net Financials 272 150 88 175 206 -41 106 967 Par Value 0,25 Pre Tax Profit 578 11 126 1 291 1 042 2 241 1 094 632 3 557 Number of days traded 197 Tax 166 3 083 512 291 628 307 161 1 015 Avg. Trades pr Day 7,37 Minority Interests 0 0 0 0 0 0 0 0 Net Income 412 8 043 779 751 1 614 788 472 2 542 Key Figures 2006 EPS 0,05 0,97 0,09 0,09 0,19 0,09 0,06 0,30 (Preliminary figures) Price Book 4,20 4,94 7,47 12,37 12,73 10,03 9,51 8,23 Long Term Fixed Assets 5 177 3 575 3 351 5 307 6 201 6 825 6 971 7 291 Operating result per Share 0,75 Current Assets 10 776 13 373 9 464 11 134 34 410 39 035 39 086 41 439 BVPS 5,59 Cash 20 369 25 745 30 805 35 315 11 865 9 305 9 331 10 665 Gross Margin 0,97 Total Assets 36 322 42 693 43 619 51 756 52 476 55 164 55 389 59 394 EBITDA Margin 0,16 Total Equity 29 204 35 099 36 233 37 264 40 100 41 542 43 397 47 080 EBITDA 7 277 Long term debt 0 0 0 0 0 0 0 0 EBITA 6 252 Short term debt 7 118 7 544 7 336 10 303 7 810 8 567 7 170 6 899 Net Margin 0,12 Total Liability and Equity 36 322 42 693 43 619 51 756 52 476 55 164 55 389 59 394 ROE 7,40 Net Interestbearing Debt -20 369 -25 745 -30 805 -35 315 -11 865 -9 305 -9 331 -10 665 Chg Operating Activities 2 540 9 968 14 496 19 737 122 -1 836 -1 192 167 Chg Investing activities -704 -1 245 -1 199 -2 401 -13 208 -13 723 -15 221 -16 109 Chg Financing activities 0 0 0 0 1 525 1 498 1 553 1 619 Chg Cash and Liquids 1 836 8 723 13 297 17 336 -11 561 -14 061 -14 861 -14 323

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 123 Share Price Company: DiaGenic ASA 16,0 Ticker: DIAG 12,0 8,0

Company Presentation: DiaGenic ASA is an innovative biotechnology 4,0 company, which develops diagnostic tests for early detection of breast cancer and Alzheimer’s disease, based on gene expression signatures in blood. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010081235 Revenue 0 0 0 105 0 0 0 60 Round Lot 2 000,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1 966,83 Operating Costs 3 269 4 871 7 207 6 994 6 132 4 112 3 689 8 478 Number of Shares 39 336,52 EBITDA -3 269 -4 871 -7 207 -6 889 -6 132 -4 112 -3 689 -8 418 Currency NOK Depreciation 140 135 1 914 127 130 128 570 137 Gics 35 EBIT -3 409 -5 006 -9 121 -7 016 -6 262 -4 240 -4 259 -8 555 Listed From 27-08-04 Net Financials 29 69 94 66 45 94 302 172 Par Value 0,05 Pre Tax Profit -3 380 -4 937 -9 027 -6 950 -6 217 -4 146 -3 957 -8 383 Number of days traded 251 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 60,81 Minority Interests 0 0 0 0 0 0 0 0 Net Income -3 380 -4 937 -9 027 -6 950 -6 217 -4 146 -3 957 -8 383 Key Figures 2006 EPS -0,10 -0,14 -0,25 -0,19 -0,17 -0,11 -0,10 -0,21 (Preliminary figures) Price Book 24,76 12,92 27,76 21,80 10,13 8,50 8,22 11,43 Long Term Fixed Assets 2 560 2 447 2 343 2 216 2 069 1 543 1 020 3 687 Operating result per Share -0,60 Current Assets 1 996 1 418 2 119 2 314 3 328 1 154 4 533 4 647 BVPS 0,62 Cash 7 602 22 783 18 339 13 428 37 885 35 644 29 522 25 568 Gross Margin 1,00 Total Assets 12 158 26 648 22 801 17 958 43 282 38 341 35 075 33 902 EBITDA Margin -372,48 Total Equity 9 343 23 506 18 146 13 616 38 767 34 673 30 803 24 268 EBITDA -22 349 Long term debt 0 0 0 0 0 0 0 1 670 EBITA -23 313 Short term debt 1 857 2 092 3 519 3 223 3 321 2 401 2 933 6 593 Net Margin -378,35 Total Liability and Equity 12 158 26 648 22 801 17 959 43 282 38 341 35 077 33 902 ROE -69,68 Net Interestbearing Debt -7 602 -22 783 -18 339 -13 428 -37 885 -35 644 -29 522 -23 898 Chg Operating Activities -3 808 -3 897 -4 471 -4 910 -6 816 -2 358 -6 037 -4 677 Chg Investing activities -38 -22 -25 0 18 -150 -83 -1 061 Chg Financing activities 0 19 100 52 0 31 255 33 0 1 784 Chg Cash and Liquids -3 846 15 181 -4 444 -4 910 24 457 -2 475 -6 120 -3 954 Share Price Company: MediCult a/s 16,0 Ticker: MEC 12,0 8,0

Company Presentation: MediCult is a leading producer of innovative cell 4,0 culture media for fertility treatment based on the patented technology SSR®. Sales through subsidiaries, distributors and from headquarters in Denmark 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin DK0015933584 Revenue 20 807 20 451 17 902 14 911 23 467 24 850 29 357 Round Lot 1 000,00 Other Income 304 86 42 50 0 0 0 Reg.Share Capital (mill) 110 123,79 Operating Costs 18 048 19 119 16 892 15 814 24 284 21 881 27 351 Number of Shares 22 024,76 EBITDA 3 063 1 419 1 052 -854 -817 2 969 2 007 Currency DKK Depreciation 0 0 0 0 0 578 850 Gics 35 EBIT 3 063 1 419 1 052 -854 -817 2 391 1 157 Listed From 07-08-96 Net Financials -121 -125 -90 -528 -106 -40 -183 Par Value 5,00 Pre Tax Profit 2 942 1 293 963 -3 391 -923 2 351 974 Number of days traded 251 Tax 152 147 208 -30 -18 256 -5 238 Avg. Trades pr Day 27,34 Minority Interests 0 0 0 104 0 0 0 Net Income 2 791 1 146 754 -3 465 -905 2 095 6 213 Key Figures 2006 EPS 0,14 0,06 0,04 -0,18 -0,04 0,10 0,29 (Preliminary figures) Price Book 3,56 3,75 5,49 3,80 3,19 3,02 3,07 Long Term Fixed Assets 28 643 28 342 46 092 36 359 81 662 85 349 69 113 Operating result per Share 0,34 Current Assets 18 334 20 121 0 18 307 30 345 33 781 56 145 BVPS 4,70 Cash 46 160 43 117 44 387 47 366 23 462 19 277 24 719 Gross Margin 0,72 Total Assets 93 137 91 580 90 479 102 033 135 469 138 407 149 977 EBITDA Margin 0,07 Total Equity 53 950 53 600 54 711 60 647 93 924 95 702 105 967 EBITDA 7 248 Long term debt 0 0 24 850 21 478 21 130 20 497 22 887 EBITA 7 248 Short term debt 12 653 12 751 10 918 19 908 20 414 22 208 21 123 Net Margin 0,11 Total Liability and Equity 93 137 91 580 90 479 102 033 135 469 138 407 149 977 ROE 8,23 Net Interestbearing Debt -44 592 -41 616 -18 188 -21 186 -2 332 2 940 -266 Chg Operating Activities -366 107 4 304 3 638 -415 118 845 Chg Investing activities -317 -1 219 -2 429 -1 518 -25 489 -1 129 -1 071 Chg Financing activities -674 -377 -362 228 28 362 -3 967 5 670 Chg Cash and Liquids -1 357 -1 489 1 512 2 348 2 459 -4 979 5 445

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 124 Share Price Company: Medi-Stim ASA 20,0 Ticker: MEDI 16,0 12,0 8,0 Company Presentation: Medi-Stim ASA develops, produce and sell medical devices to assist surgeons during cardiac and vascular surgery. Medi-Stim has 4,0 a leading position. USA, Europe and Japan are the most important markets. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010159684 Revenue 19 004 20 152 18 853 22 757 21 133 21 649 24 905 31 939 Round Lot 500,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 4 854,07 Operating Costs 15 331 16 029 15 330 18 201 16 747 15 323 21 270 25 046 Number of Shares 19 416,28 EBITDA 3 673 4 123 3 523 4 556 4 386 6 326 3 635 6 893 Currency NOK Depreciation 552 644 424 439 689 771 702 8 147 Gics 35 EBIT 3 121 3 479 3 099 4 117 3 697 5 555 2 933 -1 254 Listed From 28-05-04 Net Financials -511 -874 -6 -68 408 -308 -249 461 Par Value 0,25 Pre Tax Profit 2 610 2 605 3 093 4 049 4 105 5 247 2 684 -793 Number of days traded 144 Tax 1 005 706 -1 647 91 0 41 87 -6 979 Avg. Trades pr Day 3,59 Minority Interests 0 0 0 0 0 0 0 0 Net Income 1 605 1 899 4 740 3 958 4 105 5 206 2 597 6 186 Key Figures 2006 EPS 0,10 0,10 0,25 0,21 0,21 0,27 0,14 0,32 (Preliminary figures) Price Book 3,20 3,34 3,67 3,63 3,54 4,59 4,30 4,38 Long Term Fixed Assets 21 512 21 819 28 702 30 221 30 054 30 958 47 797 49 559 Operating result per Share 0,57 Current Assets 31 016 30 287 30 703 33 287 33 614 31 963 44 598 53 172 BVPS 3,81 Cash 28 237 22 269 19 310 20 775 20 468 12 154 16 265 16 417 Gross Margin 0,71 Total Assets 80 765 74 375 78 715 84 283 84 136 75 075 108 660 119 148 EBITDA Margin 0,21 Total Equity 58 297 54 725 63 487 67 414 72 443 63 096 67 769 74 058 EBITDA 21 240 Long term debt 1 692 1 367 1 367 1 015 1 944 0 23 000 16 200 EBITA 17 931 Short term debt 19 240 16 641 12 014 14 015 9 748 9 930 14 513 25 763 Net Margin 0,18 Total Liability and Equity 80 765 74 375 78 715 84 283 84 135 75 075 108 660 119 148 ROE 14,87 Net Interestbearing Debt -7 305 -4 261 -17 943 -19 760 -18 524 -12 154 6 735 -217 Chg Operating Activities 2 471 3 939 4 573 15 147 1 573 7 310 6 801 16 917 Chg Investing activities -1 188 -3 197 -7 060 -17 237 -864 -10 714 -32 273 -33 635 Chg Financing activities 0 -5 427 -5 427 -4 089 -1 015 -5 217 14 783 12 360 Chg Cash and Liquids 1 283 -4 685 -7 914 -6 179 -306 -8 621 -10 689 -4 358 Share Price Company: Navamedic ASA 30,0 25,0 Ticker: NAVA 20,0 15,0 Company Presentation: Navamedic is a Norwegian speciality pharmaceutical 10,0 company focusing on the development and production of glucosamine HCl 5,0 based medicines. 0 Period April 06 Aug 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010205966 Revenue 65 36 270 21 Round Lot 500,00 Other Income 0 0 0 0 Reg.Share Capital (mill) 5 973,97 Operating Costs 3 406 2 540 2 458 2 288 Number of Shares 5 973,97 EBITDA -3 341 -2 504 -2 188 -2 267 Currency NOK Depreciation 203 208 214 210 Gics 35 EBIT -3 544 -2 712 -2 402 -2 477 Listed From 31-03-06 Net Financials 155 146 125 188 Par Value 1,00 Pre Tax Profit -3 389 -2 566 -2 277 -2 289 Number of days traded 164 Tax -911 -715 -638 -673 Avg. Trades pr Day 37,41 Minority Interests 0 0 0 0 Net Income -2 478 -1 851 -1 639 -1 616 Key Figures 2006 EPS -0,44 -0,33 -0,29 -0,27 (Preliminary figures) Price Book 2,66 1,85 2,95 3,49 Long Term Fixed Assets 13 653 16 748 19 490 20 557 Operating result per Share -1,96 Current Assets 5 973 6 544 7 324 7 455 BVPS 7,69 Cash 27 509 21 835 17 243 24 413 Gross Margin 0,61 Total Assets 47 135 45 127 44 057 52 425 EBITDA Margin -26,66 Total Equity 41 986 39 897 38 258 45 925 EBITDA -10 290 Long term debt 0 0 0 0 EBITA -11 124 Short term debt 5 148 5 230 5 799 6 500 Net Margin -19,62 Total Liability and Equity 47 134 45 127 44 057 52 425 ROE -9,88 Net Interestbearing Debt -27 509 -21 835 -17 243 -24 413 Chg Operating Activities -3 336 -6 171 -2 258 -1 446 Chg Investing activities -470 -3 268 -2 334 -375 Chg Financing activities 1 309 1 269 0 8 992 Chg Cash and Liquids -2 497 -8 170 -4 592 7 171

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 125 Share Price Company: NorDiag ASA 14,0 Ticker: NORD 10,0 6,0 Company Presentation: NorDiag has patented technologies for the detection of common cancers at the early, curable phases of the cancer development. 2,0 The first product, Genefec™, enables early detection of colorectal cancer. 0 Period Dec 05 June 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010285190 Revenue 1 864 1 799 1 875 1 433 1 194 1 285 Round Lot 1 000,00 Other Income 0 918 368 328 256 1 208 Reg.Share Capital (mill) 2 350,74 Operating Costs 4 675 7 376 7 886 9 089 8 609 8 609 Number of Shares 23 507,43 EBITDA -2 811 -4 659 -5 643 -7 328 -7 159 -6 116 Currency NOK Depreciation 135 203 303 323 318 376 Gics 35 EBIT -2 946 -4 862 -5 946 -7 651 -7 477 -6 492 Listed From 14-12-05 Net Financials -82 -224 391 504 168 853 Par Value 0,10 Pre Tax Profit -3 716 -6 647 -5 555 -7 147 -7 309 -5 639 Number of days traded 184 Tax 0 0 0 0 0 0 Avg. Trades pr Day 7,87 Minority Interests 0 0 0 0 0 0 Net Income -3 716 -6 647 -5 555 -7 147 -7 309 -5 639 Key Figures 2006 EPS -0,30 -0,28 -0,24 -0,30 -0,31 -0,24 (Preliminary figures) Price Book 0,00 3,29 4,40 3,82 4,49 4,48 Long Term Fixed Assets 9 224 9 425 9 564 10 091 10 264 10 386 Operating result per Share -1,17 Current Assets 2 365 2 149 2 369 2 737 3 043 4 665 BVPS 2,05 Cash 5 626 68 102 61 093 55 124 47 862 40 929 Gross Margin 0,77 Total Assets 17 215 79 676 73 026 67 952 61 169 55 980 EBITDA Margin -3,30 Total Equity 9 069 72 265 66 849 60 236 53 456 48 247 EBITDA -26 246 Long term debt 3 413 0 3 291 3 120 0 0 EBITA -27 566 Short term debt 4 733 4 027 2 886 4 596 4 469 4 605 Net Margin -3,23 Total Liability and Equity 17 215 79 676 73 026 67 952 61 169 55 980 ROE -24,75 Net Interestbearing Debt -2 213 -68 102 -57 802 -52 004 -47 862 -40 929 Chg Operating Activities -1 583 -5 497 -6 339 -5 133 -6 674 -6 435 Chg Investing activities -1 952 -308 -670 -836 -588 -498 Chg Financing activities 8 516 68 167 0 0 0 0 Chg Cash and Liquids 4 981 62 362 -7 009 -5 969 -7 262 -6 933 Share Price Company: Natural ASA 60,0 50,0 Ticker: NTL 40,0 30,0 Company Presentation: Natural is a licensing company. The company 20,0 develops technological solutions and establishes intellectual property rights 10,0 for the commercialisation of fatty acids with documented effects. 0 Period Jan 05 Jan 06 Dec 06

2005 2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003084006 Revenue 11 266 9 976 9 846 10 722 9 070 7 285 6 136 5 159 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 10 148,72 Operating Costs 8 539 7 184 7 296 9 767 7 945 7 581 6 132 7 861 Number of Shares 10 148,72 EBITDA 2 727 2 792 2 550 955 1 125 -296 4 -2 702 Currency NOK Depreciation 596 618 622 610 619 659 662 692 Gics 35 EBIT 2 131 2 174 1 928 345 506 -955 -658 -3 394 Listed From 27-01-98 Net Financials -12 -28 -47 63 63 -230 80 -33 Par Value 1,00 Pre Tax Profit 2 119 2 146 1 881 408 569 -1 185 -578 -3 427 Number of days traded 210 Tax 0 0 0 -172 0 0 0 0 Avg. Trades pr Day 8,40 Minority Interests 0 0 0 0 0 0 0 0 Net Income 2 119 2 146 1 881 580 569 -1 185 -578 -3 427 Key Figures 2006 EPS 0,21 0,21 0,19 0,06 0,06 -0,12 -0,06 -0,34 (Preliminary figures) Price Book 7,98 7,38 6,49 6,63 5,77 6,19 9,70 15,10 Long Term Fixed Assets 20 857 22 078 22 894 23 248 25 020 27 667 28 105 30 304 Operating result per Share -0,44 Current Assets 15 598 10 205 11 065 9 419 12 016 11 621 10 447 10 559 BVPS 3,77 Cash 27 749 20 134 19 946 21 044 17 986 13 668 12 231 10 560 Gross Margin 0,92 Total Assets 64 204 52 417 53 905 53 711 55 022 52 956 50 783 51 423 EBITDA Margin -0,07 Total Equity 41 953 41 924 42 986 42 866 43 094 41 804 41 308 38 309 EBITDA -1 869 Long term debt 4 850 4 850 4 375 4 375 4 627 5 001 4 717 4 785 EBITA -4 501 Short term debt 16 971 5 020 5 793 6 185 7 043 5 893 5 325 7 674 Net Margin -0,17 Total Liability and Equity 64 204 52 417 53 905 53 711 55 022 52 956 51 783 51 423 ROE -6,62 Net Interestbearing Debt -22 899 -15 284 -15 571 -16 669 -13 359 -8 667 -7 514 -5 775 Chg Operating Activities -1 396 -1 729 0 1 988 -660 -1 565 -1 505 -719 Chg Investing activities -713 -2 553 -3 990 -4 954 -1 865 -5 174 -6 285 -9 160 Chg Financing activities -475 -5 988 -6 463 -6 463 -475 -475 -950 -446 Chg Cash and Liquids -2 490 -10 105 -10 293 -9 195 -3 058 -7 376 -8 813 -10 484

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 126 Share Price Company: Nutri Pharma ASA 4,5 Ticker: NUT 3,5 2,5

Company Presentation: A leader in Soy Technology. Nutri Pharma ASA 1,5 is one of the leaders in soy technology for treatment and prevention of 0,5 lifestyle-related diseases and has developed unique patent protected 0 Period products, to improve the health and wellbeing of consumers. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003106700 Revenue 1 031 1 182 18 023 20 821 22 550 24 252 15 863 16 470 Round Lot 5 000,00 Other Income 0 0 979 945 0 1 419 1 058 1 223 Reg.Share Capital (mill) 19 667,91 Operating Costs 3 281 7 223 28 463 19 763 24 179 23 147 19 345 19 044 Number of Shares 78 671,63 EBITDA -2 250 -6 041 -9 461 2 003 -1 629 2 524 -2 424 -1 351 Currency NOK Depreciation 363 0 362 1 462 1 462 1 462 1 531 2 320 Gics 35 EBIT -2 613 -6 041 -9 823 541 -3 091 1 062 -3 955 -3 671 Listed From 05-05-00 Net Financials 56 19 -82 129 -88 -107 -151 998 Par Value 0,25 Pre Tax Profit -2 557 -6 022 -9 905 670 -3 179 955 -4 106 -2 673 Number of days traded 225 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 7,84 Minority Interests 0 0 0 0 0 0 0 0 Net Income -2 557 -6 022 -9 905 670 -3 179 955 -4 106 -2 673 Key Figures 2006 EPS -0,04 -0,08 -0,14 0,01 -0,04 0,01 -0,05 -0,03 (Preliminary figures) Price Book 14,71 16,33 29,11 13,45 8,43 5,36 52,36 5,74 Long Term Fixed Assets 8 016 7 654 107 966 105 913 102 641 102 841 104 922 99 479 Operating result per Share -0,15 Current Assets 14 240 12 675 8 076 11 608 10 230 15 001 10 206 10 429 BVPS 0,37 Cash 1 336 593 1 793 2 596 2 749 4 125 2 160 3 077 Gross Margin 0,90 Total Assets 23 592 20 922 117 835 120 117 115 620 121 967 117 288 112 985 EBITDA Margin -0,03 Total Equity 22 724 18 552 8 647 18 712 34 443 37 167 36 074 29 036 EBITDA -2 880 Long term debt 0 0 0 0 0 0 0 15 528 EBITA -11 952 Short term debt 868 2 370 109 188 101 405 81 177 84 800 81 214 68 421 Net Margin -0,14 Total Liability and Equity 23 592 20 922 117 835 120 117 115 620 121 967 117 288 112 985 ROE -27,52 Net Interestbearing Debt -859 -593 -1 793 -2 596 -2 749 -4 125 -2 160 12 451 Chg Operating Activities -4 221 -12 177 -13 658 -26 443 -1 550 361 -2 571 97 Chg Investing activities 4 246 11 459 14 140 14 825 16 968 467 487 Chg Financing activities 0 0 0 12 903 1 687 47 139 333 Chg Cash and Liquids 25 -718 482 1 285 153 1 376 -1 965 917 Share Price Company: Photocure ASA 60,0 50,0 Ticker: PHO 40,0 30,0 Company Presentation: Photocure develops and sells pharmaceuticals and 20,0 medical devices based on its proprietary photodynamic therapy technologies, 10,0 targeting key dermatology and oncology markets. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010000045 Revenue 12 707 12 782 7 322 13 012 13 285 19 496 18 483 98 517 Round Lot 200,00 Other Income 954 11 379 5 778 4 941 61 926 1 553 1 617 1 132 Reg.Share Capital (mill) 11 017,49 Operating Costs 26 970 33 299 23 245 19 101 32 270 14 864 33 432 47 158 Number of Shares 22 034,97 EBITDA -13 309 -9 138 -10 145 -1 148 42 941 6 185 -13 332 52 491 Currency NOK Depreciation 376 316 209 12 614 262 8 888 335 460 Gics 35 EBIT -13 685 -9 454 -10 354 -13 762 42 679 -2 703 -13 667 52 031 Listed From 29-05-00 Net Financials 590 2 288 5 512 389 290 1 746 1 852 2 501 Par Value 0,50 Pre Tax Profit -13 095 -7 192 -4 842 -13 373 42 969 -957 -11 815 54 532 Number of days traded 240 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 13,37 Minority Interests -16 -26 0 0 0 0 -153 000 78 Net Income -13 079 -7 166 -4 842 -13 373 42 969 -957 141 185 54 454 Key Figures 2006 EPS -0,73 -0,40 -0,27 -0,73 2,23 -0,04 6,41 2,47 (Preliminary figures) Price Book 8,47 10,68 15,17 17,78 3,71 3,11 3,79 3,66 Long Term Fixed Assets 1 842 1 906 2 273 2 708 2 844 2 879 3 594 2 958 Operating result per Share 3,67 Current Assets 129 475 115 498 101 355 30 668 33 025 40 147 45 057 37 379 BVPS 14,84 Cash 19 860 15 776 15 209 72 329 296 771 282 864 271 474 335 085 Gross Margin 0,90 Total Assets 151 177 133 180 118 837 105 705 332 640 325 890 320 125 375 422 EBITDA Margin 0,37 Total Equity 72 798 65 957 61 500 48 465 284 246 283 783 271 040 326 935 EBITDA 79 676 Long term debt 12 919 0 0 300 0 0 0 1 303 EBITA 78 341 Short term debt 65 355 66 818 56 932 56 939 48 394 42 107 49 085 47 185 Net Margin 0,39 Total Liability and Equity 151 177 133 180 118 837 105 704 332 640 325 890 320 125 375 423 ROE 26,24 Net Interestbearing Debt -6 941 -15 776 -15 209 -72 029 -296 771 -282 864 -271 474 -333 782 Chg Operating Activities -20 563 -38 030 -57 113 -70 540 32 172 -15 511 -12 530 66 371 Chg Investing activities 609 779 683 5 464 273 1 624 942 4 556 Chg Financing activities -300 -600 -548 -548 191 997 -20 197 191 831 Chg Cash and Liquids -20 254 -37 851 -56 978 -65 624 224 442 -13 907 -11 391 262 758

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 127 Share Price Company: Profdoc ASA 40,0 Ticker: PRO 30,0 20,0 Company Presentation: Profdoc, a Scandinavian software and IT company, 10,0 develops and markets medical records, advanced communications solutions, software for medical laboratories as well as ASP for the healthcare industry. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003109308 Revenue 47 123 49 976 45 773 51 161 58 591 59 993 57 570 72 808 Round Lot 200,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 10 236,14 Operating Costs 37 801 40 700 35 484 44 521 50 672 48 461 45 537 63 809 Number of Shares 5 118,07 EBITDA 9 322 9 276 10 289 6 640 7 919 11 532 12 033 8 999 Currency NOK Depreciation 850 749 762 1 068 1 558 1 726 1 652 1 964 Gics 35 EBIT 8 472 8 527 9 527 5 572 6 361 9 806 10 381 7 035 Listed From 28-05-98 Net Financials 251 275 -389 113 25 89 -218 69 Par Value 2,00 Pre Tax Profit 8 723 8 802 9 138 5 685 6 386 9 895 10 163 7 104 Number of days traded 200 Tax 2 294 2 305 2 600 -11 419 1 765 2 788 2 990 2 308 Avg. Trades pr Day 8,81 Minority Interests 895 612 637 758 270 300 143 -90 Net Income 5 534 5 885 5 901 16 346 4 351 6 807 7 030 4 886 Key Figures 2006 EPS 0,26 0,28 0,28 0,79 0,22 0,34 0,36 0,25 (Preliminary figures) Price Book 4,90 6,01 6,40 7,43 10,90 9,26 7,67 9,66 Long Term Fixed Assets 57 154 57 290 58 727 75 331 95 742 96 890 96 092 98 845 Operating result per Share 6,78 Current Assets 32 094 28 049 25 391 24 349 34 687 41 407 36 132 47 511 BVPS 14,14 Cash 102 296 66 926 60 404 53 848 64 816 24 466 21 567 17 241 Gross Margin 0,85 Total Assets 191 544 152 265 144 522 153 528 195 245 162 763 153 791 163 597 EBITDA Margin 0,16 Total Equity 95 963 80 978 86 719 90 334 82 233 75 843 84 268 81 058 EBITDA 40 485 Long term debt 0 0 0 3 489 0 0 0 0 EBITA 37 548 Short term debt 93 187 69 088 55 594 59 705 109 310 83 055 65 601 77 488 Net Margin 0,09 Total Liability and Equity 191 544 152 265 144 522 153 528 195 245 162 763 153 791 163 596 ROE 16,83 Net Interestbearing Debt -102 296 -66 926 -60 404 -50 359 -64 816 -24 466 -21 567 2 759 Chg Operating Activities 61 627 47 295 -5 360 -8 191 67 951 44 220 42 904 -10 311 Chg Investing activities -1 034 -2 163 -887 -5 315 -19 261 -22 321 -25 671 -3 870 Chg Financing activities 0 -17 869 -414 -15 339 -15 627 -29 532 -30 513 8 441 Chg Cash and Liquids 60 046 24 675 -6 521 -28 517 32 931 -7 422 -10 319 -4 327

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 128 Financials Financials

Two major companies dominate the financial sector on Oslo Børs.

Bengt Kirkøen | Head of Research, Fondsfinans

The financial sector on Oslo Børs as defined by GICS, comprise a variety of companies, from banking to real estate. However, the sector is dominated by Norway’s largest bank DnB NOR and the life insurance company Storebrand. DnBNOR has a market cap of NOK 103 bn and accounts for abut 65% of the sector, while Storebrand with its market cap of NOK 17bn account for about 10%. These two companies are also dominating with respect to liquidity or daily turnover.

Real estate companies currently also account for a significant share of this sector, (15%). Other major companies in this index are the bad debt collecting company Aktiv Kapital, the investment bank ABG Sundal Collier, and the financial advisor company Acta Holding. In addition, the sector contains smaller banks, insurance companies etc.

There is no doubt that the main, common value driver is the Norwegian economy. The dominating company, DnBNOR, has in 2006 and still is enjoying the strong domestic economy. Continuous rising housing prices give a strong growth in mortgage lending, while the increasing investments among Norwegian corporates recently has pushed annual growth rates for corporate lending above 20%. These solid fundamentals can to a large extent be explained by the effects from the impact from high oil prices. DnBNOR has therefore been the ideal way for investors to play the Norwegian economy. This is the main reason for the solid performance DnBNOR had in 2004 (+38% return), 2005 (+26% return) and 2006 (+28%).

The combination of strong growth, low interest rates and falling unemployment has also created increasing interest for financial investments among Norwegian households, seeking a return beyond the low interest rates on saving accounts. Acta, which offers a wide spectre of financial saving products is the company that perhaps has benefited the most from this trend. The Acta share has given a total return of 98% in 2006, following a return of 68% in 2006.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 130 The mentioned demand for return on investments (above the low interest rates) has also resulted in introduction of several new real estate companies to The Oslo Børs. Norgani Hotels, the Nordic hotel property company, was listed towards the end of 2005. Norwegian Property, investing in commercial properties, was listed in November 2006 and has a market cap of about 6,8bn. In December another real estate company was listed; Faktor Eiendom ASA, which invests in the residential housing market (market cap NOK 2bn). The “older” real estate companies like Steen & Strøm (+65% in 2006) and Olav Thon (+81%) have also benefited from the strong real estate markets.

Storebrand, the savings, banking and pension company, has during 2006 been regarded as more than fully priced by most local analyst and investors, but been “loved” by foreign investors. In any case, the share price performance in 2006 has been very strong , resul- ting in a total return of 44%. The drivers have been strong equity markets and a belief in strong growth in the Norwegian pension and saving market going forward. The share price performance has once again been fuelled by rumours of a take-over of Storebrand. Worth noticing, however, is that the mutual Norwegian P&C company Gjensidige acquired 10% of Storebrand towards the end of 2006. In March 2007 Gjensidige and the Icelandic bank Kaupthing wre granted permission acquire up to 19.99% (Gjensidige) and 20% (Kaupthing). This has obviously further fuelled the take-over speculations.

Aktiv Kapital’s main business area is to acquire bad debt portfolios mainly from financial institutions. The company is only to a limited extent exposed to the Norwegian economy. The largest market for the company is currently UK, but they are also conducting business in several European countries and also Canada. The key to success is the management’s ability to continuously acquire new portfolios at attractive prices. The share price has been a poor performer in 2006 (-5%) following a very weak performance also in 2005 (–26%). The explanation seems to be lack of growth, caused by tougher competition.

As can be seen from above, it is mainly the domestic economy that is the main driver for the companies and any changes to the outlook for the Norwegian economy will have a significant impact on the valuation of most companies in this sector.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 131 Share Price Company: Acta Holding ASA 35,0 Ticker: ACTA 25,0

15,0 Company Presentation: Acta is an investment advisor which offers more than 300 savings and investment opportunities to the individual retail market and has 5,0 per 31.12.06 more than NOK 70 billion of assets under management for 73 000 0 Period clients. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003108102 Isin NO0003021909 Revenue 234 100 340 900 245 400 348 000 352 600 467 300 396 100 487 200 Round Lot 200.00 Round Lot 1,000.00 Other Income 21 500 2 700 2 700 38 800 37 800 11 900 2 000 59 000 Reg.Share Capital (mill) 45,303.02 Reg.Share Capital (mill) 66,367.98 Operating Costs 121 200 125 800 132 000 195 000 206 400 218 700 165 200 295 800 Number of Shares 251,683.43 Number of Shares 288,556.45 EBITDA 134 400 217 800 116 100 191 800 184 000 260 500 232 900 250 400 Currency NOK Currency NOK Depreciation 3 200 12 600 3 100 -4 900 2 500 2 400 2 100 2 100 Gics 40 Gics 40 EBIT 131 200 205 200 113 000 196 700 181 500 258 100 230 800 248 300 Listed From 7/16/01 Listed From 7/4/91 Net Financials 1 700 600 900 3 200 3 700 1 800 5 600 6 800 Par Value 0.18 Par Value 0.23 Pre Tax Profit 132 900 205 800 113 900 199 900 185 200 259 900 236 400 255 100 Number of days traded 251 Number of days traded 251 Tax 37 100 57 600 31 900 56 000 51 900 72 800 66 200 78 600 Avg. Trades pr Day 136.41 Avg. Trades pr Day 45.81 Minority Interests 0 0 0 0 0 0 0 0 Net Income 95 800 148 200 82 000 143 900 133 300 187 100 170 200 176 500 Key Figures 2006 Key Figures 2006 EPS 0,38 0,59 0,33 0,57 0,53 0,74 0,68 0,70 (Preliminary figures) (Preliminary figures) Price Book 13,09 8,91 10,26 7,64 29,94 12,20 11,48 10,89 Long Term Fixed Assets 51 100 34 200 32 200 32 700 35 300 36 200 37 600 59 100 Operating result per Share 3,65 Operating result per Share 2.37 Current Assets 62 600 87 200 112 500 72 200 128 800 141 000 177 800 83 300 BVPS 3,05 BVPS 3.40 Cash 543 900 441 600 520 500 870 700 997 100 659 800 832 100 1 317 000 Gross Margin 1,00 Gross Margin 1.00 Total Assets 657 600 563 000 665 200 975 600 1 161 200 837 000 1 047 500 1 459 400 EBITDA Margin 0,51 EBITDA Margin 0.36 Total Equity 215 400 364 500 446 500 590 000 219 400 408 400 578 900 762 500 EBITDA 928 071 EBITDA 665,919 Long term debt 0 0 0 0 0 0 0 0 EBITA 918 958 EBITA 654,375 Short term debt 442 200 198 500 218 700 385 600 941 800 428 400 468 600 696 900 Net Margin 0,37 Net Margin 0.30 Total Liability and Equity 657 600 563 000 665 200 975 600 1 161 200 836 800 1 047 500 1 459 400 ROE ROE 37.25 Net Interestbearing Debt -543 900 -405 800 -505 900 -870 700 -997 100 -659 800 -832 100 -1 287 500 Chg Operating Activities 143 700 179 000 110 700 347 200 143 000 169 300 175 500 459 500 Chg Investing activities -1 200 -2 500 -10 700 4 400 -3 200 -3 300 -3 200 -4 100 Chg Financing activities 0 -314 600 0 0 0 -503 400 0 0 Chg Cash and Liquids 142 500 -138 100 100 000 351 600 139 800 -337 400 172 300 455 400 Share Price Company: Aktiv Kapital ASA 140,0 Ticker: AIK 100,0

60,0 Company Presentation: Aktiv Kapital is a leading international provider of credit administrative services, the core business areas being acquisition of 20,0 defaulted credit portfolios, debt collection and administrative and financial 0 Period services. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003075004 Isin NO0010127038 Revenue 340 626 349 866 336 062 353 579 314 289 356 695 351 593 150 198 Round Lot 100.00 Round Lot 200.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 4,719.25 Reg.Share Capital (mill) 248,077.48 Operating Costs 179 467 168 422 156 195 266 149 198 595 619 059 192 589 219 821 Number of Shares 47,192.50 Number of Shares 11,276.25 EBITDA 161 159 181 444 179 867 87 430 115 694 -262 364 159 004 -69 623 Currency NOK Currency NOK Depreciation 16 644 19 990 16 119 12 070 16 916 17 915 17 203 14 837 Gics 40 Gics 40 EBIT 144 515 161 454 163 748 75 360 98 778 -280 279 141 801 -84 460 Listed From 11/19/97 Listed From 10/13/05 Net Financials -32 494 -34 703 -25 902 -37 337 -42 198 -49 015 -48 557 -43 762 Par Value 0.10 Par Value 22.00 Pre Tax Profit 112 021 126 751 137 846 38 023 56 580 -329 294 93 244 -128 222 Number of days traded 251 Number of days traded 208 Tax 26 709 32 958 36 929 7 982 11 316 -65 859 18 649 17 894 Avg. Trades pr Day 48.62 Avg. Trades pr Day 5.40 Minority Interests 0 0 0 0 0 0 0 0 Net Income 85 312 93 793 100 917 30 041 45 264 -263 435 74 595 -146 116 Key Figures 2006 Key Figures 2006 EPS 1,81 1,99 2,14 0,64 0,96 -5,59 1,58 -3,10 (Preliminary figures) (Preliminary figures) Price Book 2,63 2,35 2,45 2,30 2,66 3,19 2,35 2,73 Long Term Fixed Assets 4 589 215 4 422 779 4 555 131 4 678 414 4 880 445 4 733 142 4 882 317 4 786 570 Operating result per Share -2.64 Total income 300 987 Current Assets 298 167 284 182 327 291 333 654 339 931 306 063 347 675 398 564 BVPS 34.28 Total costs 219 735 Cash 501 432 663 103 723 103 643 951 489 576 409 381 529 148 478 731 Gross Margin 1.00 Pre Tax profit 16 440 Total Assets 5 388 814 5 370 064 5 605 525 5 656 019 5 709 952 5 448 586 5 759 140 5 663 865 EBITDA Margin -0.08 Net Result 11 837 Total Equity 2 116 507 2 009 233 2 082 922 2 110 234 2 092 092 1 614 345 1 768 865 1 617 903 EBITDA -57,289 EPS 1,15 Long term debt 1 196 639 1 454 672 1 322 302 0 548 908 38 524 3 241 621 3 186 006 EBITA -124,160 Short term debt 1 588 088 1 419 251 1 656 709 2 519 802 2 627 564 3 395 269 386 171 540 136 Net Margin -0.39 Total Liability and Equity 5 388 814 5 370 064 5 605 525 5 656 019 5 709 952 5 448 586 5 759 140 5 663 865 ROE -9.16 Net Interestbearing Debt 722 681 791 569 643 668 -597 000 59 332 2 711 538 3 098 644 2 864 284 Chg Operating Activities 390 563 688 915 949 654 1 294 148 212 841 444 314 592 518 1 131 727 Chg Investing activities -488 714 -571 564 -841 687 -1 263 856 -573 400 -1 044 592 -1 228 108 -1 580 072 Chg Financing activities 213 351 168 197 253 932 268 621 182 282 311 528 502 990 302 977 Chg Cash and Liquids 118 786 280 457 340 457 261 305 -178 277 -270 504 -132 600 -158 278

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 132 Share Price Company: ABG Sundal Collier ASA 16,0 Ticker: ASC 12,0 8,0 Company Presentation: ABG Sundal Collier is a Nordic based investment bank, offering services within equity research, brokerage services and corporate 4,0 finance. The firm has some 250 employees. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003108102 (All figures are in NOK ‘ 000) Isin NO0003021909 Round Lot 200.00 Revenue 220 690 226 266 268 935 175 375 201 753 198 684 331 469 547 588 Round Lot 1,000.00 Reg.Share Capital (mill) 45,303.02 Other Income 16 056 8 723 21 635 255 693 238 243 269 871 17 635 29 363 Reg.Share Capital (mill) 66,367.98 Number of Shares 251,683.43 Operating Costs 92 919 93 333 195 169 102 885 103 200 113 537 234 247 369 561 Number of Shares 288,556.45 Currency NOK EBITDA 143 827 141 656 95 401 328 183 336 796 355 018 114 857 207 390 Currency NOK Gics 40 Depreciation 3 358 3 257 3 259 2 820 2 932 2 987 2 639 2 986 Gics 40 Listed From 7/16/01 EBIT 140 469 138 399 92 142 325 363 333 864 352 031 112 218 204 404 Listed From 7/4/91 Par Value 0.18 Net Financials 18 698 211 10 955 5 936 9 554 9 406 18 978 33 808 Par Value 0.23 Number of days traded 251 Pre Tax Profit 87 411 70 177 103 097 166 235 173 920 182 793 131 196 238 212 Number of days traded 251 Avg. Trades pr Day 136.41 Tax 26 017 24 562 34 982 2 579 49 426 51 173 35 669 39 087 Avg. Trades pr Day 45.81 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 61 394 45 615 68 115 163 656 124 494 131 620 95 527 199 125 Key Figures 2006 (Preliminary figures) EPS 0,23 0,17 0,25 0,61 0,46 0,47 0,34 0,69 (Preliminary figures) Price Book 2,44 3,23 3,52 3,21 3,90 3,99 4,28 3,83 Operating result per Share 3,65 Long Term Fixed Assets 89 104 87 052 90 639 81 205 84 716 93 828 137 611 145 280 Operating result per Share 2.37 BVPS 3,05 Current Assets 4 798 560 3 648 720 3 849 752 2 231 174 5 258 840 3 738 387 3 905 293 2 960 687 BVPS 3.40 Gross Margin 1,00 Cash 782 377 705 555 743 704 732 295 747 036 1 340 953 1 631 859 1 855 169 Gross Margin 1.00 EBITDA Margin 0,51 Total Assets 5 670 041 4 441 327 4 684 095 3 044 674 6 090 592 5 173 168 5 674 763 4 961 136 EBITDA Margin 0.36 EBITDA 928 071 Total Equity 739 431 501 374 575 272 738 929 863 283 656 298 772 025 980 153 EBITDA 665,919 EBITA 918 958 Long term debt 0 0 0 23 729 16 166 144 121 0 0 EBITA 654,375 Net Margin 0,37 Short term debt 4 914 509 3 921 855 4 088 191 2 282 017 5 211 143 4 372 748 4 756 922 3 633 196 Net Margin 0.30 ROE Total Liability and Equity 5 670 041 4 441 327 4 684 095 3 044 675 6 090 592 5 173 167 5 674 764 4 961 136 ROE 37.25 Net Interestbearing Debt -782 377 -705 555 -743 704 -708 566 -730 870 -1 196 832 -1 631 859 -1 855 169 Chg Operating Activities 82 776 399 469 -238 299 0 1 140 234 480 454 143 -150 070 Chg Investing activities 106 314 -1 114 -7 684 0 3 615 13 745 12 417 -96 795 Chg Financing activities 207 398 -475 177 284 131 0 9 986 345 692 -175 654 470 175 Chg Cash and Liquids 396 488 -76 822 38 148 0 14 741 593 917 290 906 223 310 Share Price Company: Bluwater Insurance ASA 70,0 Ticker: BLU 50,0

30,0 Company Presentation: Bluewater offers international marine insurance; liability, hull & machinery, loss of hire for ships and mobile offshore units. 10,0 As well as non-life generel insurance covers to business and private clients 0 Period in Norway. Oct 05 May 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003075004 (All figures are in NOK ‘ 000) Isin NO0010127038 Round Lot 100.00 Premium Income 52 268 64 325 67 338 131 800 73 969 88 300 Round Lot 200.00 Reg.Share Capital (mill) 4,719.25 Int. Income 3 571 4 867 4 766 5 496 Reg.Share Capital (mill) 248,077.48 Number of Shares 47,192.50 Other Income 1 888 2 525 3 336 2 689 Number of Shares 11,276.25 Currency NOK Total Income 52 268 64 325 72 797 139 192 82 071 96 485 Currency NOK Gics 40 Total Costs 27 297 26 660 23 176 137 254 104 301 92 523 Gics 40 Listed From 11/19/97 Operating Profit 24 971 37 665 -1 903 1 938 -22 230 3 962 Listed From 10/13/05 Par Value 0.10 Other Items -1 258 -18 590 20 160 -8 498 9 814 13 591 Par Value 22.00 Number of days traded 251 Pre Tax Profit 23 713 19 075 17 861 -6 560 -12 416 17 553 Number of days traded 208 Avg. Trades pr Day 48.62 Tax 0 8 890 5 001 -1 837 -3 164 4 603 Avg. Trades pr Day 5.40 Minority Interests 0 0 Key Figures 2006 Net Results 23 713 10 185 12 860 -4 723 -9 251 12 950 Key Figures 2006 (Preliminary figures) EPS 3,00 1,09 1,37 -0,46 -0,90 1,19 (Preliminary figures)

Operating result per Share -2.64 Total Assets 730 840 800 780 942 306 939 211 959 905 995 909 Total income 300 987 BVPS 34.28 Total equity 204 679 261 335 294 906 292 950 283 699 331 204 Total costs 219 735 Gross Margin 1.00 Other Reserves 399 729 419 672 468 007 496 481 539 731 551 896 Pre Tax profit 16 440 EBITDA Margin -0.08 Liabilities 126 432 119 773 179 393 149 780 136 475 112 810 Net Result 11 837 EBITDA -57,289 Total Liabilities and shareholders fund 730 840 800 780 942 306 939 211 959 905 995 909 EPS 1,15 EBITA -124,160 Net Margin -0.39 ROE -9.16

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 133 Share Price Company: Component Software Group ASA 90,0 Ticker: CSG 70,0 50,0 Company Presentation: Component Software is the leading Nordic player 30,0 within Business Intelligence solutions (software and services). The company is 10,0 also, through its own Contempus software portfolio, a leading European player 0 Period within electronic processing of supplier invoices and eCommerce. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010068513 Revenue 2 210 2 414 2 301 1 950 1 163 1 064 1 203 304 Round Lot 200.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1,000.00 Operating Costs 1 868 1 556 2 936 3 273 1 024 704 2 862 851 Number of Shares 6,666.67 EBITDA 342 858 -635 -1 323 139 360 -1 659 -547 Currency NOK Depreciation 38 0 0 0 0 0 0 0 Gics 40 EBIT 304 858 -635 -1 323 139 360 -1 659 -547 Listed From 9/20/00 Net Financials -5 4 8 28 650 7 191 98 495 Par Value 0.15 Pre Tax Profit 299 862 -627 -1 295 789 7 551 -1 561 -52 Number of days traded 110 Tax 120 273 -145 510 70 155 -299 0 Avg. Trades pr Day 4.23 Minority Interests (null) (null) (null) (null) (null) (null) (null) (null) Net Income 179 589 -482 -1 805 719 7 396 -1 262 -52 Key Figures 2006 EPS 0,54 1,77 -1,45 -5,41 2,16 22,19 -3,79 -0,16 (Preliminary figures) Price Book 3,07 2,01 2,01 2,07 1,87 0,97 1,06 1,32 Long Term Fixed Assets 4 338 3 686 1 782 0 0 0 162 0 Operating result per Share 0.00 Current Assets 2 913 1 363 3 250 3 625 3 459 171 161 0 BVPS 1.75 Cash 899 3 100 2 548 4 694 4 367 14 630 13 984 11 833 Gross Margin 1.00 Total Assets 8 150 8 149 7 580 8 319 7 826 14 801 14 307 11 833 EBITDA Margin -0.46 Total Equity 6 525 7 116 6 633 4 829 5 547 12 943 11 682 11 641 EBITDA 0 Long term debt 0 0 0 0 0 0 0 0 EBITA -1,706 Short term debt 1 625 1 033 947 3 490 2 279 1 858 2 625 192 Net Margin 1.82 Total Liability and Equity 8 150 8 149 7 580 8 319 7 826 14 801 14 307 11 833 ROE 48.03 Net Interestbearing Debt -899 -3 100 -2 548 -4 694 -4 367 -14 630 -13 984 -11 833 Chg Operating Activities -1 124 462 -90 2 056 -1 124 290 8 253 8 525 Chg Investing activities -45 571 571 571 797 9 646 -7 743 -8 194 Chg Financing activities 0 0 0 0 0 0 -866 -3 299 Chg Cash and Liquids -1 169 1 033 481 2 627 -327 9 936 -356 -2 968 Share Price Company: DnBNOR ASA 100,0 Ticker: DNBNOR 80,0 60,0 40,0 Company Presentation: DnB NOR is Norway’s leading financial services group with total combined assets of NOK 1.040 billion. 20,0 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010031479 Total Interest Income 7 057 000 7 275 000 7 626 000 8 134 000 8 864 000 10 000 000 10 960 000 12 556 000 Round Lot 100.00 Total Interest Expenses 3 707 000 3 868 000 4 187 000 4 661 000 5 242 000 6 219 000 7 049 000 8 581 000 Reg.Share Capital (mill)13,368,748.98 Net Interest Income 3 350 000 3 407 000 3 439 000 3 473 000 3 622 000 3 781 000 3 911 000 3 975 000 Number of Shares 1,336,874.90 Other Income 2 605 000 2 755 000 3 103 000 3 222 000 3 555 000 3 110 000 2 932 000 323 000 Currency NOK Depreciations 161 000 165 000 162 000 165 000 159 000 177 000 (null) 196 000 Gics 40 Pre Tax Profit 2 632 000 3 253 000 3 553 000 3 579 000 3 742 000 3 704 000 3 557 000 3 685 000 Listed From 8/17/92 Tax 161 000 165 000 162 000 165 000 159 000 177 000 (null) 196 000 Par Value 10.00 Net Income 1 974 000 2 440 000 2 665 000 2 997 000 2 848 000 2 851 000 2 714 000 3 366 000 Number of days traded 251 Avg. Trades pr Day 823.84 Net Loans 600 805 000 621 934 000 652 125 000 759 587 000 727 482 000 764 657 000 802 000 000 827 947 000 Other Assets 358 992 000 370 970 000 388 540 000 321 700 000 411 175 000 457 907 000 73 000 000 7 719 000 Key Figures 2006 Total Assets 959 797 000 992 904 000 1 040 665 000 1 081 287 000 1 138 657 000 1 222 564 000 1 268 000 000 1 320 242 000 (Preliminary figures) To Depoits from Customers 455 580 000 477 109 000 502 480 000 519 044 000 531 371 000 459 734 000 457 000 000 474 526 000 Other Liabilities 426 225 000 439 995 000 458 949 000 477 798 000 517 185 000 671 617 000 76 000 000 18 812 000 Net Interest Income 15 289 000 Total Subordinated Loans 25 522 000 24 283 000 25 193 000 25 996 000 28 401 000 31 606 000 99 000 000 33 977 000 Other Income 1 176 000 Total Equity 52 470 000 51 517 000 54 043 000 58 449 000 61 699 000 59 607 000 0 66 413 000 Depreciations 715 000 Total Liability and Equity 959 797 000 992 904 000 1 040 665 000 1 081 287 000 1 138 656 000 1 222 564 000 1 268 000 000 1 320 242 000 Pre Tax Profit 14 689 000 Tax 715 000 Net Income 11 665 000 ROE 9,46

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 134 Share Price Company: Faktor Eiendom ASA 35,0

Ticker: FAKTOR 25,0

Company Presentation: Faktor Eiendom ASA established in November 2001 15,0 is a holding company consisting of 7 primarily wholly owned companies. The Company is a real-estate and housing developer focusing on delivery 5,0 of houses to both the residential market and the vocational home market in 0 Period Norway, Sweden and Spain 28.12.06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010340391 Revenue 87 200 Round Lot 200.00 Other Income 22 800 Reg.Share Capital (mill) 1,286.00 Operating Costs 66 800 Number of Shares 64,300.00 EBITDA 43 200 Currency NOK Depreciation 900 Gics 40 EBIT 42 300 Listed From 12/8/06 Net Financials 10 800 Par Value 0.02 Pre Tax Profit 53 100 Number of days traded 13 Tax 700 Avg. Trades pr Day 13.23 Minority Interests 0 Net Income 52 400 Key Figures 2006 EPS 0,81 (Preliminary figures) Price Book 2,63 Long Term Fixed Assets 329 800 Operating result per Share 2.84 Current Assets 199 600 BVPS 11.22 Cash 430 000 Gross Margin 0.45 Total Assets 959 400 EBITDA Margin 0.32 Total Equity 721 400 EBITDA 185,700 Long term debt 67 400 EBITA 182,900 Short term debt 161 500 Net Margin 0.28 Total Liability and Equity 959 400 ROE 12.94 Net Interestbearing Debt -346 500 Chg Operating Activities -50 Chg Investing activities -78 Chg Financing activities 490 Chg Cash and Liquids 362 Share Price Company: Imarex NOS ASA 100,0 Ticker: IMAREX 80,0 60,0 40,0 Company Presentation: The IMAREX NOS group is an integrated trading services organisation providing brokerage, marketplace, clearing and information 20,0 services to global commodity derivatives markets. 0 Period April 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010122898 Revenue 29 675 19 721 29 656 25 430 26 869 18 318 55 997 Round Lot 100.00 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 10,322.37 Operating Costs 23 675 19 503 24 025 24 554 26 353 23 564 41 353 Number of Shares 10,322.37 EBITDA 6 000 218 5 631 876 516 -5 246 14 644 Currency NOK Depreciation 488 600 639 770 797 695 3 210 Gics 40 EBIT 5 512 -382 4 992 106 -281 -5 941 11 434 Listed From 4/4/05 Net Financials 1 169 566 12 139 1 364 1 211 -80 1 882 Par Value 1.00 Pre Tax Profit 6 681 184 17 131 1 470 930 -6 021 13 316 Number of days traded 215 Tax 0 0 1 690 -1 505 0 -1 084 4 615 Avg. Trades pr Day 11.05 Minority Interests 0 0 0 0 0 0 -218 Net Income 6 681 184 15 441 2 975 930 -4 937 8 919 Key Figures 2006 EPS 0,97 0,03 2,21 0,42 0,13 -0,71 0,87 (Preliminary figures) Price Book 0,00 3,43 3,27 2,78 3,52 4,10 1,84 Long Term Fixed Assets 38 601 37 931 60 033 75 225 67 479 68 945 251 887 Operating result per Share 1.89 Current Assets 65 439 14 738 135 259 111 520 95 970 86 142 322 970 BVPS 47.83 Cash 88 039 110 699 0 0 0 0 0 Gross Margin 0.83 Total Assets 192 079 163 368 195 292 186 745 163 449 155 087 574 857 EBITDA Margin 0.14 Total Equity 165 993 150 925 180 997 172 493 148 836 145 515 493 730 EBITDA 21,716 Long term debt 0 0 0 0 0 0 0 EBITA 15,194 Short term debt 26 086 12 443 14 295 14 252 14 613 9 572 81 129 Net Margin 0.10 Total Liability and Equity 192 079 163 368 195 292 186 745 163 449 155 087 574 859 ROE 2.70 Net Interestbearing Debt -88 039 -110 699 0 0 0 0 0 Chg Operating Activities -31 159 22 865 712 7 419 3 887 -18 069 -3 048 Chg Investing activities -33 062 -204 -731 -1 614 -13 595 -480 -8 421 Chg Financing activities 30 466 0 3 457 -24 507 -4 186 2 003 -690 Chg Cash and Liquids -33 755 22 661 3 438 -18 702 -13 894 -16 546 -12 159

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 135 Share Price Company: Norgani Hotels ASA 80,0 Ticker: NORGAN 60,0 40,0 Company Presentation: Norgani is the largest Nordic hotel property owner 20,0 with a portfolio of larger, mainly 3-4 star hotel properties. Norgani focuses on centrally located hotels with minimum 150 rooms and long lease contracts. 0 Period Nov 05 May 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010272636 Revenue 64 392 64 355 113 115 117 376 140 832 182 300 Round Lot 200.00 Other Income 3 812 3 053 8 888 4 941 3 691 61 300 Reg.Share Capital (mill) 989,359.90 Operating Costs 30 888 20 704 18 463 19 723 20 360 56 300 Number of Shares 39,574.40 EBITDA 37 316 46 704 103 540 102 594 124 163 187 300 Currency NOK Depreciation 0 0 0 0 -109 139 0 Gics 40 EBIT 37 316 46 704 103 540 102 594 233 302 187 300 Listed From 11/16/05 Net Financials -23 532 -25 315 -20 683 -14 840 -67 023 -80 500 Par Value 25.00 Pre Tax Profit 32 693 202 211 86 509 91 579 166 279 587 700 Number of days traded 226 Tax 9 106 686 17 368 9 094 15 924 179 800 Avg. Trades pr Day 9.24 Minority Interests 0 0 0 0 0 0 Net Income 23 587 201 525 69 141 82 485 150 355 407 900 Key Figures 2006 EPS 1,02 8,04 2,22 2,59 4,14 10,31 (Preliminary figures) Price Book 0,00 0,93 1,02 0,97 0,90 0,96 Long Term Fixed Assets 3 384 252 6 614 220 6 724 206 7 011 771 9 834 556 9 505 900 Operating result per Share 15.32 Current Assets 64 857 49 130 86 483 184 838 73 823 883 500 BVPS 76.22 Cash 247 453 175 164 191 484 94 119 115 127 105 100 Gross Margin 0.91 Total Assets 3 696 562 6 838 514 7 002 173 7 290 728 10 023 506 10 494 500 EBITDA Margin 0.82 Total Equity 1 140 374 1 801 709 1 894 728 2 017 926 2 681 210 3 016 500 EBITDA 525,300 Long term debt 2 477 242 4 894 169 4 976 378 5 118 405 7 089 230 6 980 900 EBITA 525,300 Short term debt 68 270 142 635 120 999 129 297 193 897 497 100 Net Margin 1.11 Total Liability and Equity 3 696 562 6 838 513 7 002 172 7 290 726 10 023 506 10 494 500 ROE 17.13 Net Interestbearing Debt 2 233 058 4 719 005 4 793 851 5 024 286 7 055 594 7 125 800 Chg Operating Activities 21 072 36 982 38 995 35 899 43 054 -605 700 Chg Investing activities -3 321 397 -6 267 775 -130 649 -242 239 -2 349 834 533 800 Chg Financing activities 3 547 626 6 404 234 108 855 106 864 2 321 331 57 000 Chg Cash and Liquids 247 453 175 164 17 201 -97 365 21 008 -14 900 Share Price Company: Norsk Vekst ASA 60,0 50,0 Ticker: NOV 40,0 30,0 Company Presentation: NOV is an investment fund focused on long term and 20,0 active ownership as a means to achieve value in it’s portefolio, which today 10,0 consists of 7 large and 4 smaller companies. All investments are managed 0 Period directely by the company itself. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003048308 Revenue 750 4 638 0 100 759 0 0 0 25 063 Round Lot 200.00 Other Income 32 900 0 130 212 0 18 983 28 843 32 517 35 Reg.Share Capital (mill) 109,533.93 Operating Costs 1 907 8 818 3 081 4 704 3 903 1 179 7 068 29 023 Number of Shares 10,953.39 EBITDA 31 743 -4 180 127 131 96 055 15 080 27 664 25 449 -3 925 Currency NOK Depreciation 0 0 0 0 0 0 0 0 Gics 40 EBIT 31 743 -4 180 127 131 96 055 15 080 27 664 25 449 -3 925 Listed From 1/3/95 Net Financials -2 801 -510 -2 381 -3 480 -2 159 -2 058 -4 739 23 207 Par Value 10.00 Pre Tax Profit 28 942 -4 690 124 750 92 575 12 921 25 606 20 710 19 282 Number of days traded 145 Tax 0 0 0 8 0 0 0 1 Avg. Trades pr Day 4.23 Minority Interests 0 0 0 0 0 0 0 196 Net Income 28 942 -4 690 124 750 92 567 12 921 25 606 20 710 19 085 Key Figures 2006 EPS 3,41 -0,55 14,68 11,08 1,53 3,05 2,16 1,76 (Preliminary figures) Price Book 0,74 0,75 0,58 0,48 0,55 0,57 0,62 0,85 Long Term Fixed Assets 558 883 549 619 582 409 683 110 663 546 684 582 539 471 599 158 Operating result per Share -1.13 Current Assets 16 994 1 585 1 871 974 3 729 9 445 18 232 13 765 BVPS 53.00 Cash 6 374 25 825 114 940 16 035 11 000 6 731 77 138 43 688 Gross Margin 1.00 Total Assets 582 251 577 029 699 220 700 119 678 275 700 758 634 841 656 611 EBITDA Margin -0.41 Total Equity 323 857 319 167 443 943 536 587 544 002 569 822 624 198 585 026 EBITDA -10,498 Long term debt 77 510 77 890 77 864 78 290 78 495 125 789 6 198 40 588 EBITA -10,498 Short term debt 178 787 177 875 175 316 82 423 4 925 2 259 1 557 28 297 Net Margin 1.55 Total Liability and Equity 582 251 577 029 699 220 700 119 678 275 700 758 634 841 656 611 ROE 4.15 Net Interestbearing Debt 246 360 224 379 134 852 62 255 67 495 119 058 -70 940 -3 100 Chg Operating Activities 12 38 519 108 578 8 868 -5 907 36 784 1 793 0 Chg Investing activities 0 -19 056 0 91 790 32 744 -13 627 139 546 0 Chg Financing activities 0 0 0 -90 985 -31 872 -32 461 -80 236 0 Chg Cash and Liquids 12 19 463 108 578 9 673 -5 035 -9 304 61 103 0

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 136 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 137 Share Price Company: Norwegian Property ASA 64,0 Ticker: NPRO 62,0 60,0 58,0 Company Presentation: Norwegian Property ASA invests in larger, centrally located properties in the largest Norwegian cities and offers a liquid 56,0 investment alternative with exposure in Norwegian commercial real-estate. 54,0 Period Jan 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010317811 Revenue 180 594 198 383 Round Lot 200.00 Other Income 439 4 156 Reg.Share Capital (mill) 2,462,823.23 Operating Costs 23 230 31 957 Number of Shares 98,512.93 EBITDA 157 803 170 582 Currency NOK Depreciation 0 0Gics 40 EBIT 157 803 170 582 Listed From 11/15/06 Net Financials -170 987 -41 421 Par Value 25.00 Pre Tax Profit -13 184 522 405 Number of days traded 31 Tax -3 691 143 790 Avg. Trades pr Day 101.45 Minority Interests 178 1 078 Net Income -9 671 377 537 Key Figures 2006 EPS -0,14 4,47 (Preliminary figures) Price Book 0,00 1,20 Long Term Fixed Assets 13 279 029 15 464 191 Operating result per Share 4.55 Current Assets 54 277 171 950 BVPS 54.09 Cash 422 164 1 252 462 Gross Margin 0.95 Total Assets 13 755 470 16 888 603 EBITDA Margin 0.85 Total Equity 3 518 722 5 373 227 EBITDA 351,711 Long term debt 9 846 590 10 999 776 EBITA 351,711 Short term debt 354 215 395 990 Net Margin 0.94 Total Liability and Equity 13 755 470 16 888 603 ROE 4.24 Net Interestbearing Debt 9 473 926 9 747 314 Chg Operating Activities 455 772 43 796 Chg Investing activities -11 684 169 -3 139 727 Chg Financing activities 11 650 461 3 926 229 Chg Cash and Liquids 422 064 830 298 Share Price Company: Olav Thon Eiendomsselskap ASA 900,0 700,0 Ticker: OLT 500,0

Company Presentation: The company was introduced on the Oslo Stock 300,0 Exchange in 1983. The company’s main strategy is to invest in centrally located 100,0 business properties. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005638858 Revenue 176 800 179 400 274 800 294 000 304 800 308 900 302 000 306 900 Round Lot 10.00 Other Income 188 300 34 200 99 200 105 800 143 400 160 000 135 900 226 900 Reg.Share Capital (mill) 105,628.07 Operating Costs 61 800 66 000 59 400 165 600 186 700 174 400 -195 100 -170 200 Number of Shares 10,562.81 EBITDA 303 300 147 600 314 600 234 200 261 500 294 500 633 000 704 000 Currency NOK Depreciation 600 100 1 600 1 300 2 500 2 500 1 900 2 400 Gics 40 EBIT 302 700 147 500 313 000 232 900 259 000 292 000 631 100 701 600 Listed From 4/29/83 Net Financials 16 500 215 200 -6 300 476 400 56 800 103 300 -183 300 81 300 Par Value 10.00 Pre Tax Profit 319 200 362 700 306 700 709 300 315 800 395 300 447 800 782 900 Number of days traded 223 Tax 84 500 98 100 81 500 193 700 86 400 110 100 125 400 0 Avg. Trades pr Day 10.70 Minority Interests 0 0 0 0 28 800 0 0 100 700 Net Income 234 700 264 600 225 200 515 600 200 600 285 200 322 400 682 200 Key Figures 2006 EPS 22,22 25,05 21,32 48,81 18,99 27,00 30,52 64,59 (Preliminary figures) Price Book 1,03 1,04 0,95 1,05 1,46 1,37 1,34 1,52 Long Term Fixed Assets 9 575 800 10 093 700 14 869 300 16 553 300 16 728 500 17 094 200 17 491 000 18 326 300 Operating result per Share 189.99 Current Assets 331 600 75 600 235 800 325 000 501 100 544 800 590 100 797 100 BVPS 559.96 Cash 56 700 66 400 112 000 156 500 218 700 189 300 233 300 408 400 Gross Margin 1.46 Total Assets 9 964 100 10 235 700 15 217 100 17 034 800 17 448 300 17 828 300 18 314 400 19 531 800 EBITDA Margin 1.07 Total Equity 4 682 600 4 733 000 6 049 000 5 672 500 5 824 200 6 066 400 6 410 700 6 954 600 EBITDA 2,016,100 Long term debt 3 747 100 0 7 358 800 8 871 000 8 745 900 8 843 500 8 844 800 9 286 200 EBITA 2,006,800 Short term debt 298 000 4 187 900 391 400 477 400 693 200 670 600 714 000 779 300 Net Margin 0.72 Total Liability and Equity 9 964 100 10 235 700 15 217 100 17 034 700 17 448 400 17 828 300 18 314 400 19 531 800 ROE 15.27 Net Interestbearing Debt 3 690 400 3 918 900 7 246 800 8 714 500 8 527 200 8 654 200 8 611 500 8 877 800 Chg Operating Activities 149 600 435 700 397 500 466 200 158 200 284 600 401 600 515 000 Chg Investing activities -65 900 -350 400 -547 800 -1 877 200 -88 700 -434 500 -406 200 -930 400 Chg Financing activities -78 100 -70 000 211 200 1 516 500 -23 800 166 100 64 800 650 700 Chg Cash and Liquids 5 600 15 300 60 900 105 500 45 700 16 200 60 200 235 300

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 138 Share Price Company: Skiens Aktiemølle ASA 140,0 Ticker: SKI 100,0 60,0 Company Presentation: Skiens Aktiemølle ASA is located in Skien. The company’s main operations are within financial investments, power 20,0 production and real-estate leasing. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005418004 Revenue 7 689 502 304 49 275 310 230 1 805 Round Lot 100.00 Other Income 0 0 0 163 0 0 0 90 Reg.Share Capital (mill) 67,942.14 Operating Costs 591 599 703 1 295 620 576 698 1 258 Number of Shares 6,794.21 EBITDA 7 098 -97 -399 -1 083 -345 -266 -468 637 Currency NOK Depreciation 144 144 144 139 144 144 144 132 Gics 40 EBIT 6 954 -241 -543 -1 222 -489 -410 -612 505 Listed From 1/2/80 Net Financials 16 973 31 795 41 453 45 446 7 555 24 143 4 312 19 138 Par Value 10.00 Pre Tax Profit 23 927 31 554 40 910 44 224 7 066 23 733 3 700 19 643 Number of days traded 101 Tax 2 884 999 300 570 431 421 400 -268 Avg. Trades pr Day 2.01 Minority Interests (null) (null) (null) (null) (null) (null) (null) (null) Net Income 21 043 30 555 40 610 43 654 6 635 23 312 3 300 19 911 Key Figures 2006 EPS 3,19 4,63 6,16 6,62 0,33 3,52 0,50 3,02 (Preliminary figures) Price Book 1,70 1,66 1,64 1,54 1,72 1,55 1,49 1,68 Long Term Fixed Assets 385 969 347 980 356 157 371 289 390 881 402 626 398 718 395 159 Operating result per Share 0.00 Current Assets 12 612 7 164 5 395 620 1 710 2 260 3 262 5 346 BVPS 73.64 Cash 41 874 83 823 119 459 153 181 138 551 119 063 124 116 143 777 Gross Margin 1.00 Total Assets 440 455 438 967 481 011 525 090 531 142 523 949 526 096 544 282 EBITDA Margin -0.16 Total Equity 391 955 422 508 463 118 479 304 485 966 509 277 511 679 500 313 EBITDA 0 Long term debt 0 0 0 0 0 0 0 0 EBITA -1,006 Short term debt 39 443 7 402 8 836 35 278 34 668 4 164 4 451 34 209 Net Margin 19.62 Total Liability and Equity 440 455 438 967 481 011 525 090 531 142 523 949 526 096 544 282 ROE 6.31 Net Interestbearing Debt -41 874 -83 823 -119 459 -153 181 -138 551 -119 063 -124 116 -143 777 Chg Operating Activities -10 601 12 756 16 915 30 444 -135 17 548 17 874 16 621 Chg Investing activities 20 766 -70 121 101 598 121 791 -14 495 -24 198 -19 471 1 443 Chg Financing activities 0 -30 763 -30 763 -30 763 0 -27 468 -27 468 -27 468 Chg Cash and Liquids 10 165 -88 128 87 750 121 472 -14 630 -34 118 -29 065 -9 404 Share Price Company: Steen & Strøm ASA 350,0 Ticker: SST 250,0 150,0 Company Presentation: Steen & Strøm is a leading shopping centre company in the Scandinavian market, currently operating more than 50 shopping centre 50,0 in Norway, Sweden and Denmark. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003046203 Revenue 328 000 393 000 363 800 383 900 405 900 436 900 407 400 630 200 Round Lot 20.00 Other Income 0 47 900 0 0 0 0 150 400 0 Reg.Share Capital (mill) 27,883.22 Operating Costs 103 800 184 500 173 200 195 400 183 700 199 800 181 300 405 300 Number of Shares 27,883.22 EBITDA 224 200 256 400 190 600 188 500 222 200 237 100 376 500 224 900 Currency NOK Depreciation 3 700 4 700 4 100 5 700 5 900 5 600 4 900 5 800 Gics 40 EBIT 220 500 251 700 186 500 182 800 216 300 231 500 371 600 219 100 Listed From 7/5/94 Net Financials -60 400 -62 000 -67 100 -65 800 -65 100 349 700 -77 800 156 800 Par Value 1.00 Pre Tax Profit 160 100 189 700 303 000 661 500 209 300 581 200 293 800 375 900 Number of days traded 116 Tax 44 800 52 800 85 200 158 800 58 800 162 700 82 100 72 100 Avg. Trades pr Day 3.43 Minority Interests 0 3 200 0 -800 -200 0 0 1 700 Net Income 115 300 133 700 217 800 503 500 150 700 418 500 211 700 302 100 Key Figures 2006 EPS 4,30 4,99 8,13 18,80 5,63 15,62 7,90 11,28 (Preliminary figures) Price Book 1,20 1,31 1,30 1,16 1,46 1,47 1,45 1,53 Long Term Fixed Assets 13 080 000 12 996 300 13 389 000 14 965 800 15 438 600 16 213 800 17 978 300 19 226 100 Operating result per Share 30.81 Current Assets 229 800 259 500 271 200 303 700 308 400 292 500 326 800 337 900 BVPS 218.93 Cash 541 800 311 700 356 400 505 600 299 800 729 100 289 200 261 600 Gross Margin 1.00 Total Assets 13 851 600 13 567 500 14 016 600 15 775 100 16 046 800 17 235 400 18 594 300 19 825 600 EBITDA Margin 0.42 Total Equity 4 194 900 4 061 900 4 315 000 4 914 400 5 054 600 5 395 200 5 740 300 6 108 000 EBITDA 847,500 Long term debt 7 604 900 7 172 900 7 212 000 8 026 400 7 843 600 8 444 700 9 073 000 9 827 100 EBITA 825,300 Short term debt 1 052 600 1 301 600 1 360 400 1 497 100 1 743 700 1 810 000 2 096 700 2 194 800 Net Margin 0.54 Total Liability and Equity 13 851 600 13 567 500 14 016 600 15 775 100 16 046 900 17 235 500 18 594 400 19 825 600 ROE 11.45 Net Interestbearing Debt 7 063 100 6 861 200 6 855 600 7 520 800 7 543 800 7 715 600 8 783 800 9 565 500 Chg Operating Activities 191 000 286 600 424 700 322 500 142 000 270 200 549 300 784 200 Chg Investing activities -179 600 -418 800 -610 700 -1 553 300 -476 100 -799 200 -2 090 000 -2 880 200 Chg Financing activities 124 600 38 100 136 700 1 330 600 128 300 752 500 1 324 300 1 852 000 Chg Cash and Liquids 136 000 -94 100 -49 300 99 800 -205 800 223 500 -216 400 -244 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 139 Share Price Company: Storebrand ASA 90,0 Ticker: STB 70,0 50,0 Company Presentation: Storebrand is a leading player in the markets for 30,0 long-term savings and insurance. The group consists of the following business areas: life insurance, asset management, banking and non-life insurance. 10,0 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003053605 Premium Income 8 359 200 4 909 000 3 099 500 3 098 300 8 507 000 2 936 100 4 382 300 3 714 200 Round Lot 200.00 Int. Income 157 300 145 300 148 100 112 800 107 000 102 300 108 700 101 300 Reg.Share Capital (mill) 1,249,095.53 Other Income 2 269 800 2 775 200 3 982 400 2 768 900 4 909 000 -756 600 3 919 200 6 045 600 Number of Shares 249,819.11 Total Income 10 786 300 7 829 500 7 230 000 5 980 000 13 522 000 2 281 800 8 410 200 9 861 100 Currency NOK Total Costs 9 901 700 6 376 400 4 852 200 4 817 000 10 489 000 4 037 900 6 205 200 5 765 900 Gics 40 Operating Profit 884 600 1 453 100 2 377 800 1 163 000 1 188 000 1 596 400 707 900 2 056 900 Listed From 6/21/93 Other Items -562 100 -1 064 500 -2 053 000 -754 100 729 700 -1 244 800 -394 600 -1 596 900 Par Value 5.00 Pre Tax Profit 322 500 388 600 324 800 408 900 1 040 351 600 313 300 461 700 Number of days traded 251 Tax 31 300 10 800 14 000 -15 000 32 300 20 400 22 000 4 600 Avg. Trades pr Day 506.12 Minority Interests 300 1 500 1 200 600 500 5 500 1 400 2 100 Net Results 290 900 376 300 309 600 423 300 425 800 325 600 289 900 455 000 Key Figures 2006 EPS 1,09 1,46 1,18 1,68 1,70 1,31 1,18 1,84 (Preliminary figures)

Total Assets 181 131 600 184 063 000 189 889 000 201 845 500 213 257 000 211 430 400 213 832 700 222 758 000 Total income 34 074 900 Total equity 10 366 600 8 827 400 9 072 000 9 277 500 9 495 000 8 477 800 8 614 700 8 899 800 Total costs 26 498 200 Liabilities 170 765 000 184 063 000 180 817 000 192 568 000 203 762 000 202 952 600 205 218 000 213 858 000 Pre Tax profit 1 585 100 Tot. Liability and Equity 181 131 600 192 890 400 189 889 000 201 845 500 213 257 000 211 430 400 213 832 700 222 758 000 Net Result 1 505 800 EPS 6,03 Share Price Company: Voss Veksel- og Landmandsbank ASA 3000,0 2500,0 Ticker: VVL 2000,0 1500,0 Company Presentation: Voss Veksel- og Landmandsbank ASA is an 1000,0 independent corporate bank for Voss and the surrounding area founded 500,0 in 1899. The company has adequate equity capital, financial liquidity 0 Period and profitability. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003025009 Total Interest Income 15 245 16 056 16 968 18 009 17 788 19 420 21 442 22 911 Round Lot 5.00 Total Interest Expenses 4 146 4 332 4 793 5 296 6 010 7 012 8 062 9 230 Reg.Share Capital (mill) 9,500.00 Net Interest Income 11 099 11 724 12 175 12 713 11 778 12 408 13 380 13 681 Number of Shares 95.00 Other Income 1 757 3 234 1 990 883 3 424 846 1 080 3 576 Currency NOK Depreciations 542 538 536 544 517 532 492 465 Gics 40 Pre Tax Profit 4 814 7 929 7 024 5 112 6 770 5 616 6 645 8 579 Listed From 4/1/92 Tax 542 538 536 544 517 532 492 465 Par Value 100.00 Net Income 3 695 5 972 5 539 4 038 5 437 3 844 4 971 8 180 Number of days traded 57 Avg. Trades pr Day 1.46 Net Loans 1 354 200 1 415 098 1 468 168 1 610 365 1 675 979 1 628 525 1 700 277 1 726 305 Other Assets 170 366 283 656 115 935 112 369 125 114 319 475 123 431 295 436 Key Figures 2006 Total Assets 1 524 566 1 698 754 1 672 159 1 722 734 1 801 093 1 948 000 1 931 942 2 021 741 (Preliminary figures) To Depoits from Customers 1 263 434 1 297 248 1 306 711 1 284 139 1 459 675 1 500 628 1 398 807 1 441 109 Other Liabilities 85 108 15 650 157 960 236 540 132 495 234 605 308 824 360 956 Net Interest Income 51 247 Total Subordinated Loans 9 000 25 000 25 000 25 000 25 000 25 000 25 000 25 000 Other Income 839 Total Equity 167 024 172 996 178 535 177 055 183 923 187 767 192 739 194 676 Depreciations 2 006 Total Liability and Equity 1 524 566 1 698 754 1 672 159 1 722 734 1 801 093 1 948 000 1 931 942 2 021 741 Pre Tax Profit 27 610 Tax 2 006 Net Income 22 432 ROE 6,03

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 140 Information Technology Attractive stock picks in the technology sector

The Norwegian technology sector boasts interesting investment opportunities in highly advanced niche markets.

Atle hauge | Analyst Carnegie ASA

Oslo Stock Exchange – not all about oil and gas In recent years, Norwegian IT companies have been overshadowed by the predominant sectors that were founded on the harvest of our country’s rich natural resources. Given the upsurge in the oil price from just under USD30 at the beginning of 2004 to more than USD70 by the end of 2006, the market’s focus on oil-related sectors is quite understandable. However, the Norwegian technology sector, which has historically benefited from growth in the oil & gas industry and innovation and early adoption within telecommunications, does possess some interesting opportunities for investors looking for exposure to highly advanced, niche markets.

The Oslo Stock Exchange IT sector Norwegian IT companies are small by international standards and their operations are spread across a variety of technological niches. Nevertheless, some are actually among the leaders of their respective industries. Eltek is the second largest player in the telecom power market; Tandberg is considered the leader alongside American competitor Polycom in the videoconferencing market; and Tandberg Television has a technology-leading position in the digital encoder market. On the software side, Funcom is involved in the high- growth gaming industry and has said it will launch its widely anticipated, breakthrough MMO game Age of Conan in 2007, and FAST is one of the world’s fastest-growing software companies. These examples show that, even though the Norwegian IT sector is small and disparate, there are niche companies that stand out, even in an international setting.

Strong, late-cycle IT environment Focus in a business recession or early in a business cycle up-tick is always on sales. IT investments often centre on the hardware needed to ramp up the business and in related software and services. Late in the business cycle and in the early days post its peak, focus is instead on changing and optimising business processes in order to be competitive during

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 142 the next upturn. These projects are typically larger, involving IT strategists, IT integrators and new applications to support the changes. It is therefore reasonable to assume the software and services sector will gain from an up-tick in demand late in the overall business cycle – the point we believe we are at today.

Historically, it has not been a good thing to own technology stocks at the end of a cycle. However, Nordic and Norwegian IT is a mature industry today, and we expect good demand, at least until late 2007, as customers have strong financial positions and IT is no longer optional – it is business critical for all clients/segments. We therefore believe the historical IT share price pattern will change. In fact, we consider it unrealistic to assume it would be similar to that in 1999 and 2001 when the industry was dealing with a total stop in IT investments.

Valuation and performance Both the US and the European technology sectors are trading at a 12-month forward P/E ratio representing a 30–40% premium to the general market. For several years, the Norwegian technology sector was trading at a discount to its US and European counter- parts but, since 2005, it has seen a revaluation and is now trading at slightly higher P/E multiples.

Looking at the average performance of the Nasdaq Composite index for the period 1995– 2005, it is evident that Q4 is the best quarter in which to own technology stocks. This was clearly the case for the Norwegian technology sector in 2006, which enjoyed a strong upturn in late autumn based on both a comeback from a slight underperformance compared with international peers and company-specific events and earnings reports. For the past six months, the Norwegian IT index has clearly outperformed the Oslo Stock Exchange benchmark index.

Strategy going forward As stated before, the general IT market should be supported by continued high investments, but – given the recent strong share price performance and certain signs of a declining level of new orders within technology – we think the time is right for scrutiny and selective stock picking.

A quick glance at the 2007 earnings expectations for US technology also leaves us with some doubt about risk/reward. While 2006 earnings growth is likely to be just under 2% (Q4 estimated at -2%), earnings estimates now point to growth of 19% for 2007 – representing a trend-break. This represents risk on the downside, as one could be faced with a double-whammy, meaning that share prices could fall on both significant negative earnings revisions and contracting multiples due to lower growth expectations.

Still, there are certainly gems to be found in sub-sectors – and the current environment of strong profits, which has led to strong balance sheets, sets the stage for increased M&A activity going forward. We therefore recommend a selective search for technology companies that either enjoy good momentum in their niche markets or appear to be likely acquisition candidates.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 143 Share Price Company: Apptix 12,0 10,0 Ticker: APP 8,0 6,0 Company Presentation: Apptix is a leading provider of service automation 4,0 software that enables applications to be delivered over the net. Apptix’s 2,0 turnkey solutions are backed by global alliances with Microsoft and HP. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010123060 Isin NO0010305089 Revenue 9 871 10 678 11 877 15 748 23 070 24 668 31 875 47 044 Round Lot 1,000.00 Round Lot 1,000.00 Other Income 1 797 1 407 1 719 2 122 1 395 1 128 1 290 2 691 Reg.Share Capital (mill) 5,335.08 Reg.Share Capital (mill) 5,590.59 Operating Costs 20 717 17 456 21 558 27 929 32 426 31 796 37 600 48 354 Number of Shares 80,106.36 Number of Shares 14,712.09 EBITDA -9 048 -5 371 -7 961 -10 059 -7 961 -6 000 -4 434 1 381 Currency NOK Currency NOK Depreciation 2 030 1 739 1 777 2 049 2 396 2 617 3 739 6 288 Gics 45 Gics 45 EBIT -11 078 -7 110 -9 738 -12 108 -10 357 -8 617 -8 173 -4 907 Listed From 4/8/02 Listed From 2/27/06 Net Financials 0 -96 -213 -2 195 -1 528 -1 626 -1 740 -193 Par Value 0.07 Par Value 0.38 Pre Tax Profit -11 078 -7 206 -9 952 -14 303 -11 885 -10 243 -9 912 -5 099 Number of days traded 250 Number of days traded 204 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 33.16 Avg. Trades pr Day 23.83 Minority Interests 0 0 0 0 0 0 0 0 Net Income -11 078 -7 206 -9 952 -14 303 -11 885 -10 243 -9 912 -5 099 Key Figures 2006 Key Figures 2006 EPS -0,21 -0,14 -0,19 -0,26 -0,20 -0,17 -0,15 -0,06 (Preliminary figures) (Preliminary figures) Price Book 9,16 9,16 16,88 6,25 8,62 10,89 3,27 3,36 Long Term Fixed Assets 41 340 42 203 42 047 95 906 94 933 91 932 236 465 226 422 Operating result per Share -0.39 Operating result per Share 1.16 Current Assets 6 988 8 026 7 496 9 625 12 935 11 392 19 592 21 862 BVPS 2.31 BVPS 3.97 Cash 9 039 12 287 7 810 34 520 24 520 21 730 40 049 28 017 Gross Margin 0.74 Gross Margin 0.44 Total Assets 57 367 62 515 57 354 140 051 132 387 125 054 296 107 276 300 EBITDA Margin -0.13 EBITDA Margin 0.08 Total Equity 42 612 37 476 29 141 69 230 57 682 50 114 202 244 184 726 EBITDA -16,963 EBITDA 15,800 Long term debt 0 10 670 948 30 276 31 892 33 940 38 547 35 911 EBITA -32,033 EBITA 14,600 Short term debt 13 293 14 369 27 264 40 545 42 813 41 000 55 316 55 664 Net Margin -0.28 Net Margin 0.06 Total Liability and Equity 57 367 62 515 57 354 140 051 132 387 125 054 296 107 276 300 ROE -16.94 ROE 12.15 Net Interestbearing Debt -9 039 -1 617 -6 862 -4 244 7 372 12 210 -1 503 7 894 Chg Operating Activities -8 269 -13 121 -19 865 -29 514 -7 561 -11 222 -7 578 -10 584 Chg Investing activities -1 445 -3 664 -5 305 -7 539 -2 910 -6 760 -142 974 -149 707 Chg Financing activities 31 9 189 12 679 49 088 47 4 773 156 998 15 716 Chg Cash and Liquids -10 707 -8 025 -12 524 13 049 -9 176 -10 088 6 686 -145 153

Share Price Company: Birdstep Technology ASA 16,0 Ticker: BIRD 12,0 8,0 Company Presentation: Birdstep is an independent software and database 4,0 technologies vendor, and operates in the wireless (roaming and infrastructure) technologies and database technologies. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003095309 Isin NO0003107609 Revenue 13 400 8 900 8 500 11 600 11 400 12 000 11 500 15 100 Round Lot 500.00 Round Lot 1,000.00 Other Income 0 0 0 0 0 1 400 0 0 Reg.Share Capital (mill) 45,381.44 Reg.Share Capital (mill) 14,398.94 Operating Costs 16 000 19 100 17 200 23 700 19 300 19 100 18 200 22 200 Number of Shares 45,381.44 Number of Shares 28,797.87 EBITDA -2 600 -10 200 -8 700 -12 100 -7 900 -5 700 -6 700 -7 100 Currency NOK Currency NOK Depreciation 1 000 900 900 1 300 800 800 800 800 Gics 45 Gics 45 EBIT -3 600 -11 100 -9 600 -13 400 -8 700 -6 500 -7 500 -7 900 Listed From 6/12/02 Listed From 6/13/01 Net Financials -1 800 -800 -1 100 -7 000 -1 200 -1 100 0 -1 900 Par Value 1.00 Par Value 0.50 Pre Tax Profit -5 400 -11 900 -10 700 -20 400 -9 900 -7 600 -7 500 -9 800 Number of days traded 251 Number of days traded 140 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 133.46 Avg. Trades pr Day 4.46 Minority Interests 0 0 0 0 0 0 0 -200 Net Income -5 400 -11 900 -10 700 -20 400 -9 900 -7 600 -7 500 -9 600 Key Figures 2006 Key Figures 2006 EPS -0,16 -0,28 -0,26 -0,48 -0,23 -0,18 -0,17 -0,21 (Preliminary figures) (Preliminary figures) Price Book 1,38 1,57 2,40 3,66 3,60 3,04 3,79 2,86 Long Term Fixed Assets 127 800 127 800 128 000 123 000 125 000 123 200 122 100 121 400 Operating result per Share -0.67 Operating result per Share -0.88 Current Assets 17 000 14 100 12 500 13 000 16 000 19 600 11 700 80 300 BVPS 3.72 BVPS 3.85 Cash 76 500 64 200 53 500 44 200 33 100 62 600 61 100 0 Gross Margin 1.00 Gross Margin 0.52 Total Assets 221 300 206 100 194 000 180 200 174 100 205 400 194 900 201 700 EBITDA Margin -0.54 EBITDA Margin 0.02 Total Equity 194 500 184 500 177 000 159 200 148 900 181 700 178 500 178 800 EBITDA -26,900 EBITDA 6,047 Long term debt 0 2 300 0 19 200 0 1 800 0 2 600 EBITA -30,500 EBITA -23,210 Short term debt 24 300 19 300 17 000 1 800 23 300 21 800 16 400 20 300 Net Margin -0.69 Net Margin -0.07 Total Liability and Equity 221 300 206 100 194 000 180 200 174 100 205 300 194 900 201 700 ROE -11.87 ROE -10.78 Net Interestbearing Debt -76 500 -61 900 -52 200 -25 000 -33 100 -60 800 -44 700 2 600 Chg Operating Activities -5 500 -10 800 -11 200 -8 800 -11 400 -12 400 -3 400 -7 400 Chg Investing activities -43 600 -1 400 -1 900 -800 -100 41 800 -300 -500 Chg Financing activities 65 800 0 2 300 500 100 0 2 200 10 000 Chg Cash and Liquids 16 700 -12 200 -10 800 -9 100 -11 400 29 400 -1 500 2 100

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 144 Share Price Company: Captura ASA 14,0 Ticker: CAPTU 10,0

6,0 Company Presentation: Captura ASA is the leading provider of Mobile Solutions to corporations in the Nordic region. The company has 110 employees, a solid 2,0 market position in the Nordics and lots of international customers. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010123060 (All figures are in NOK ‘ 000) Isin NO0010305089 Round Lot 1,000.00 Revenue 36 569 43 967 67 763 54 100 Round Lot 1,000.00 Reg.Share Capital (mill) 5,335.08 Other Income 0 0 0 0 Reg.Share Capital (mill) 5,590.59 Number of Shares 80,106.36 Operating Costs 34 028 40 684 62 361 49 600 Number of Shares 14,712.09 Currency NOK EBITDA 2 541 3 283 5 402 4 500 Currency NOK Gics 45 Depreciation 283 287 333 300 Gics 45 Listed From 4/8/02 EBIT 2 258 2 996 5 069 4 200 Listed From 2/27/06 Par Value 0.07 Net Financials -3 -246 -798 -400 Par Value 0.38 Number of days traded 250 Pre Tax Profit 1 369 564 4 271 3 800 Number of days traded 204 Avg. Trades pr Day 33.16 Tax 385 158 1 196 1 100 Avg. Trades pr Day 23.83 Minority Interests 0 0 0 0 Key Figures 2006 Net Income 984 406 3 075 2 700 Key Figures 2006 (Preliminary figures) EPS 0,07 0,03 0,21 0,17 (Preliminary figures) Price Book 2,76 2,48 2,11 3,27 Operating result per Share -0.39 Long Term Fixed Assets 44 734 44 028 42 993 43 800 Operating result per Share 1.16 BVPS 2.31 Current Assets 42 730 67 143 88 034 61 300 BVPS 3.97 Gross Margin 0.74 Cash 1 292 8 286 6 702 2 800 Gross Margin 0.44 EBITDA Margin -0.13 Total Assets 88 756 119 457 137 729 107 900 EBITDA Margin 0.08 EBITDA -16,963 Total Equity 44 570 54 737 59 870 58 400 EBITDA 15,800 EBITA -32,033 Long term debt 11 357 10 827 15 606 12 800 EBITA 14,600 Net Margin -0.28 Short term debt 27 261 48 316 62 255 36 700 Net Margin 0.06 ROE -16.94 Total Liability and Equity 88 756 119 456 137 731 107 900 ROE 12.15 Net Interestbearing Debt 14 659 4 434 10 797 11 900 Chg Operating Activities -8 654 -1 785 -910 2 300 Chg Investing activities -1 028 153 -668 -5 700 Chg Financing activities 6 951 8 872 -6 -500 Chg Cash and Liquids -2 731 7 240 -1 584 -3 900 Share Price Company: Consorte Group ASA 12,0

Ticker: COGR 8,0

Company Presentation: Consorte Group is a leading company in development, 4,0 integration, delivery and operation of communication solutions to the enterprise market. The Group has subsidiaries in Scandinavia and the UK and supplies 0 Period services and solutions that are adapted to the individual customer’s business Jan 05 Dec 05 Dec 06 and requirement.

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003095309 (All figures are in NOK ‘ 000) Isin NO0003107609 Round Lot 500.00 Revenue 36 282 38 902 39 700 41 184 40 603 40 755 90 590 102 513 Round Lot 1,000.00 Reg.Share Capital (mill) 45,381.44 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 14,398.94 Number of Shares 45,381.44 Operating Costs 33 689 37 534 35 835 37 649 38 819 38 571 81 419 109 605 Number of Shares 28,797.87 Currency NOK EBITDA 2 593 1 368 3 865 3 535 1 784 2 184 9 171 -7 092 Currency NOK Gics 45 Depreciation 2 778 3 038 2 922 4 314 3 719 3 499 4 517 17 522 Gics 45 Listed From 6/12/02 EBIT -185 -1 670 943 -779 -1 935 -1 315 4 654 -24 614 Listed From 6/13/01 Par Value 1.00 Net Financials -219 -232 -331 -233 -173 39 -1 564 -2 271 Par Value 0.50 Number of days traded 251 Pre Tax Profit -404 -1 902 612 -1 012 -2 108 -1 276 3 090 -26 885 Number of days traded 140 Avg. Trades pr Day 133.46 Tax 71 -504 169 -2 181 -617 -410 826 -8 429 Avg. Trades pr Day 4.46 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income -475 -1 398 443 1 169 -1 491 -866 2 264 -18 456 Key Figures 2006 (Preliminary figures) EPS -0,02 -0,06 0,02 0,05 -0,06 -0,04 0,08 -0,64 (Preliminary figures) Price Book 2,13 1,91 2,85 2,42 2,31 2,13 1,76 2,29 Operating result per Share -0.67 Long Term Fixed Assets 61 188 61 187 59 899 63 816 64 560 65 003 151 487 152 892 Operating result per Share -0.88 BVPS 3.72 Current Assets 35 079 38 585 38 457 69 629 34 891 38 434 95 901 95 955 BVPS 3.85 Gross Margin 1.00 Cash 40 063 39 970 35 769 0 32 609 26 356 36 927 52 117 Gross Margin 0.52 EBITDA Margin -0.54 Total Assets 136 330 139 742 134 125 133 445 132 060 129 793 284 315 300 964 EBITDA Margin 0.02 EBITDA -26,900 Total Equity 89 313 87 194 87 634 89 452 87 587 86 071 129 024 110 883 EBITDA 6,047 EBITA -30,500 Long term debt 0 0 0 10 308 9 195 0 60 000 69 770 EBITA -23,210 Net Margin -0.69 Short term debt 32 209 39 240 34 683 33 685 35 279 35 285 71 292 100 606 Net Margin -0.07 ROE -11.87 Total Liability and Equity 136 330 139 742 134 125 133 445 132 061 129 793 284 314 300 964 ROE -10.78 Net Interestbearing Debt -40 063 -39 970 -35 769 10 308 -23 414 -26 356 23 073 17 653 Chg Operating Activities 1 984 5 671 5 162 3 798 9 820 8 619 15 031 26 738 Chg Investing activities -3 073 -5 447 -7 637 -12 773 -3 867 -7 055 -101 280 -108 310 Chg Financing activities -1 500 -2 906 -4 406 -5 906 -1 113 -2 979 95 406 94 783 Chg Cash and Liquids -2 589 -2 682 -6 881 -14 881 4 840 -1 415 9 157 13 211

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 145 Share Price Company: Confirmit ASA 25,0 20,0 Ticker: CONF 15,0 10,0 Company Presentation: Confirmit is an international leading vendor of software 5,0 for Market Research and Enterprise Feedback Management. The company’s flagship product is a web-based survey and reporting software platform. 0 Period Des 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003117509 Revenue 41 529 32 072 28 369 30 718 48 888 Round Lot 500.00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 3,468.55 Operating Costs 35 269 29 643 26 263 26 935 38 156 Number of Shares 19,820.31 EBITDA 6 259 2 429 2 106 3 783 10 732 Currency NOK Depreciation 179 207 224 266 315 Gics 45 EBIT 6 080 2 222 1 882 3 517 10 417 Listed From 12/6/05 Net Financials 40 -167 224 183 64 Par Value 0.18 Pre Tax Profit 6 120 2 055 2 106 3 701 10 481 Number of days traded 135 Tax 2 274 314 336 1 695 2 819 Avg. Trades pr Day 4.25 Minority Interests 0 0 0 0 0 Net Income 3 846 1 742 1 770 2 005 7 662 Key Figures 2006 EPS 0,22 0,09 0,09 0,10 0,39 (Preliminary figures) Price Book 3,66 3,06 2,76 2,66 2,93 Long Term Fixed Assets 52 193 50 554 50 208 49 527 47 914 Operating result per Share 0.93 Current Assets 54 610 36 809 27 754 39 906 53 738 BVPS 6.49 Cash 6 464 49 816 55 289 48 967 61 012 Gross Margin 0.99 Total Assets 113 267 137 179 133 250 138 401 162 664 EBITDA Margin 0.14 Total Equity 80 812 108 447 109 623 113 904 128 567 EBITDA 19,075 Long term debt 697 402 0 0 363 EBITA 18,067 Short term debt 31 759 28 331 23 159 23 677 33 715 Net Margin 0.09 Total Liability and Equity 113 267 137 179 133 250 138 401 162 645 ROE 7.33 Net Interestbearing Debt -5 767 -49 415 -55 289 -48 967 -60 068 Chg Operating Activities -1 021 16 590 7 845 -7 597 7 463 Chg Investing activities -153 -160 -255 -601 -784 Chg Financing activities 756 26 280 168 -133 7 379 Chg Cash and Liquids -670 42 816 8 038 -8 407 14 296 Share Price Company: Data Respons ASA 16,0 Ticker: DAT 12,0 8,0 Company Presentation: Data Respons` vision is to be the leading Embedded 4,0 Solutions company in Europe by 2010. Data Respons delivers embedded solutions for OEM customers in defence, offshore, telecom and cross-industry. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003064107 Revenue 49 456 62 105 52 515 103 080 75 241 97 052 78 276 142 476 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 18,440.12 Operating Costs 48 611 58 017 51 848 95 449 71 931 91 792 75 539 131 525 Number of Shares 36,880.25 EBITDA 845 4 088 667 7 631 3 310 5 260 2 737 10 951 Currency NOK Depreciation 407 436 472 511 551 553 573 1 116 Gics 45 EBIT 438 3 652 195 7 120 2 759 4 707 2 164 9 835 Listed From 12/1/97 Net Financials -217 -245 -141 619 280 -130 418 327 Par Value 0.50 Pre Tax Profit 221 3 407 54 7 739 3 039 4 577 2 582 10 162 Number of days traded 246 Tax 62 1 375 555 1 094 1 135 1 286 1 559 -21 109 Avg. Trades pr Day 28.96 Minority Interests 0 -73 -38 -46 0 0 0 0 Net Income 159 2 105 -463 6 691 1 904 3 291 1 023 31 271 Key Figures 2006 EPS 0,01 0,07 -0,01 0,20 0,06 0,09 0,03 0,85 (Preliminary figures) Price Book 3,46 2,98 2,59 3,05 2,59 2,11 2,55 1,99 Long Term Fixed Assets 49 447 57 081 56 435 75 548 74 846 96 333 97 145 176 555 Operating result per Share 0.54 Current Assets 66 292 82 178 88 093 113 504 125 281 119 779 121 182 157 406 BVPS 6.39 Cash 37 338 28 930 45 510 48 266 24 475 65 551 54 115 29 411 Gross Margin 0.46 Total Assets 153 077 168 189 190 038 237 318 224 602 281 663 272 442 363 372 EBITDA Margin 0.06 Total Equity 110 675 112 058 145 586 152 065 161 808 201 385 202 212 234 936 EBITDA 22,257 Long term debt 4 029 4 486 4 028 16 187 16 096 16 096 16 096 43 112 EBITA 19,463 Short term debt 38 373 51 645 40 424 69 066 46 698 64 182 54 134 85 324 Net Margin 0.10 Total Liability and Equity 153 077 168 189 190 038 237 318 224 602 281 663 272 442 363 372 ROE 11.51 Net Interestbearing Debt -33 309 -24 444 -41 482 -32 079 -6 935 -49 019 -38 019 13 701 Chg Operating Activities -5 000 -4 400 -14 400 10 600 -4 700 6 600 -7 700 1 500 Chg Investing activities -300 -9 200 -300 -14 300 -25 400 -600 -3 400 -26 200 Chg Financing activities -2 600 5 200 31 300 6 400 6 300 35 100 -400 0 Chg Cash and Liquids -7 900 -8 400 16 600 2 700 -23 800 41 100 -11 500 -24 700

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 146 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 147 Share Price Company: Dolphin Interconnect Solutions ASA 20,0 Ticker: DOLP 15,0 10,0 Company Presentation: Dolphin Interconnect Solutions delivers high-perfor- 5,0 mance interconnect products and advanced support software for multi-processing and input-output. Dolphin’s customers are key industry players in the 0 Period server market and the embedded systems market. Main locations are in Oslo Apr 06 Aug 06 Dec 06 and Marlborough M.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010170921 Revenue 10 320 10 442 7 025 4 304 Round Lot 500.00 Other Income 217 131 3 601 0 Reg.Share Capital (mill) 1,790.47 Operating Costs 8 273 9 346 11 518 9 577 Number of Shares 8,952.34 EBITDA 2 264 1 227 -892 -5 273 Currency NOK Depreciation 80 82 84 6 141 Gics 45 EBIT 2 184 1 145 -976 -11 414 Listed From 4/20/06 Net Financials 38 220 736 200 Par Value 0.20 Pre Tax Profit 2 222 1 366 -240 -11 214 Number of days traded 148 Tax 644 -1 251 -52 -3 361 Avg. Trades pr Day 10.27 Minority Interests 0 0 0 0 Net Income 1 578 2 616 -188 -7 853 Key Figures 2006 EPS 0,26 0,31 -0,02 -0,88 (Preliminary figures) Price Book 0,00 1,66 1,50 1,55 Long Term Fixed Assets 14 965 17 627 19 203 18 802 Operating result per Share -1.12 Current Assets 16 825 15 074 16 976 16 969 BVPS 8.46 Cash 11 285 56 707 55 534 48 553 Gross Margin 0.59 Total Assets 43 075 89 409 91 713 84 324 EBITDA Margin -0.07 Total Equity 36 877 83 782 83 576 75 713 EBITDA -2,673 Long term debt 0 0 0 0 EBITA -9,059 Short term debt 5 006 4 631 7 063 7 728 Net Margin -0.11 Total Liability and Equity 43 075 89 409 91 713 84 325 ROE -4.06 Net Interestbearing Debt -11 285 -56 707 -55 534 -48 553 Chg Operating Activities -5 135 2 835 370 -4 392 Chg Investing activities -2 553 -1 494 -1 633 -2 393 Chg Financing activities -35 44 098 77 -190 Chg Cash and Liquids -7 723 45 439 -1 173 -12 481 Share Price Company: DynaPel Systems Inc. 30,0 25,0 Ticker: DYNA 20,0 15,0 Company Presentation: DynaPel Systems, Inc. is a leading developer of intel- 10,0 ligent video surveillance software and hardware appliances for physical security 5,0 and surveillance applications based on own technology. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin US4593781051 Revenue 1 370 1 677 981 1 687 2 256 11 526 3 580 4 142 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 9,866.57 Operating Costs 7 276 6 066 7 617 7 431 8 589 16 440 9 583 13 217 Number of Shares 19,733.13 EBITDA -5 907 -4 389 -6 637 -5 744 -6 333 -4 914 -6 003 -9 075 Currency USD Depreciation 0 0 0 0 0 0 0 0 Gics 45 EBIT -5 907 -4 389 -6 637 -5 744 -6 333 -4 914 -6 003 -9 075 Listed From 1/27/05 Net Financials 0 0 0 -68 -120 0 0 360 Par Value 0.50 Pre Tax Profit -5 938 -4 922 -6 576 -5 812 -6 406 -4 641 -2 151 -8 715 Number of days traded 212 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 47.20 Minority Interests 0 0 0 0 0 0 0 0 Net Income -5 938 -4 922 -6 576 -5 812 -6 406 -4 641 -2 151 -8 715 Key Figures 2006 EPS -0,44 -0,33 -0,41 -0,35 -0,35 -0,24 -0,11 -0,44 (Preliminary figures) Price Book 7,23 22,88 12,36 42,86 41,65 10,68 12,28 12,68 Long Term Fixed Assets 595 764 1 002 1 542 1 843 19 658 2 160 2 483 Operating result per Share -1.36 Current Assets 2 488 4 209 5 120 6 777 8 656 16 638 12 372 13 167 BVPS 1.35 Cash 9 406 2 187 6 911 2 131 4 516 15 799 25 798 15 256 Gross Margin 0.61 Total Assets 12 489 7 160 13 033 10 449 15 015 52 096 40 329 30 906 EBITDA Margin -1.21 Total Equity 7 716 3 165 8 481 2 632 10 631 37 620 36 147 26 603 EBITDA -26,308 Long term debt 0 0 0 0 0 0 0 0 EBITA -26,308 Short term debt 4 773 3 995 4 552 7 818 4 391 14 476 4 196 4 304 Net Margin -1.05 Total Liability and Equity 12 489 7 160 13 033 10 449 15 021 52 096 40 342 30 906 ROE -90.75 Net Interestbearing Debt -9 406 -2 187 -6 911 -2 131 -4 516 -15 799 -25 798 -15 256 Chg Operating Activities -8 269 -15 460 -22 514 -30 465 -8 689 -11 846 -18 996 -30 102 Chg Investing activities -163 -237 -446 -947 -87 -13 131 -1 208 -360 Chg Financing activities 16 589 16 878 28 653 32 325 11 431 38 945 43 470 44 270 Chg Cash and Liquids 8 169 927 5 605 833 2 649 13 968 23 266 13 808

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 148 Company: EDB Business Partner ASA Share Price 60,0 Ticker: EDBASA 40,0

Company Presentation: EDB is one of the leading IT groups in the Nordic 20,0 region, focusing on software solutions towards banking/ finance and telecom industry, and computing operating services towards all lines of business. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010019649 Revenue 1 231 000 1 285 000 1 164 000 1 258 000 1 341 000 1 523 000 1 370 000 1 588 000 Round Lot 200.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 159,571.01 Operating Costs 1 054 000 1 087 000 962 000 1 055 000 1 144 000 1 308 000 1 167 000 1 351 000 Number of Shares 91,183.43 EBITDA 177 000 198 000 202 000 203 000 197 000 215 000 203 000 237 000 Currency NOK Depreciation 96 000 106 000 104 000 102 000 93 000 103 000 106 000 96 000 Gics 45 EBIT 81 000 92 000 98 000 101 000 104 000 112 000 97 000 141 000 Listed From 8/31/99 Net Financials -16 000 -11 000 -7 000 2 000 -11 000 -17 000 -14 000 -11 000 Par Value 1.75 Pre Tax Profit 65 000 69 000 91 000 98 000 93 000 95 000 -61 000 130 000 Number of days traded 250 Tax 21 000 27 000 32 000 20 000 27 000 28 000 -14 000 -11 000 Avg. Trades pr Day 39.64 Minority Interests 0 0 0 0 0 0 0 0 Net Income 44 000 42 000 59 000 78 000 66 000 67 000 -47 000 141 000 Key Figures 2006 EPS 0,49 0,46 0,65 0,86 2,14 0,74 -0,52 1,55 (Preliminary figures) Price Book 3,24 2,99 2,91 2,77 3,09 2,54 2,70 2,67 Long Term Fixed Assets 3 046 000 3 021 000 2 853 000 2 793 000 3 444 000 4 040 000 4 095 000 4 126 000 Operating result per Share 5.00 Current Assets 1 093 000 1 138 000 1 079 000 1 016 000 1 256 000 1 483 000 1 474 000 1 387 000 BVPS 20.72 Cash 203 000 136 000 198 000 246 000 78 000 124 000 23 000 302 000 Gross Margin 0.72 Total Assets 4 342 000 4 295 000 4 130 000 4 055 000 4 778 000 5 647 000 5 592 000 5 815 000 EBITDA Margin 0.15 Total Equity 1 457 000 1 453 000 1 509 000 1 604 000 1 840 000 1 778 000 1 742 000 1 890 000 EBITDA 852,000 Long term debt 700 000 1 005 000 643 000 682 000 1 137 000 1 904 000 1 947 000 1 890 000 EBITA 454,000 Short term debt 1 430 000 1 254 000 1 251 000 1 234 000 1 236 000 1 333 000 1 304 000 1 442 000 Net Margin 0.04 Total Liability and Equity 4 342 000 4 295 000 4 130 000 4 055 000 4 778 000 5 648 000 5 593 000 5 815 000 ROE 7.25 Net Interestbearing Debt 520 000 893 000 567 000 436 000 1 218 000 1 908 000 1 950 000 1 756 000 Chg Operating Activities 58 000 5 000 197 000 321 000 55 000 140 000 120 000 328 000 Chg Investing activities -88 000 -198 000 -6 000 -80 000 -700 000 -661 000 -134 000 -141 000 Chg Financing activities 38 000 126 000 -124 000 -197 000 476 000 570 000 -65 000 93 000 Chg Cash and Liquids 8 000 -67 000 67 000 44 000 -169 000 49 000 -102 000 280 000

Company: Eltek ASA Share Price 120,0 Ticker: ELT 80,0

Company Presentation: Eltek is a global leading supplier of power solutions and 40,0 communication equipment and systems to fixed and wireless telecom networks. Eltek also provides power solutions for industrial applications. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003109407 Revenue 400 286 488 564 600 098 596 781 599 274 631 650 682 804 1 207 388 Round Lot 100.00 Other Income 0 0 0 0 22 661 0 0 0 Reg.Share Capital (mill) 49,205.92 Operating Costs 367 251 431 771 525 360 533 965 547 809 107 384 618 789 1 208 967 Number of Shares 49,205.92 EBITDA 33 035 56 793 74 738 62 816 74 126 524 266 64 015 -1 579 Currency NOK Depreciation 0 0 0 0 0 0 0 0 Gics 45 EBIT 33 035 56 793 74 738 62 816 74 126 524 266 64 015 -1 579 Listed From 7/8/98 Net Financials -2 045 482 -1 465 802 243 -6 028 -13 685 -12 653 Par Value 1.00 Pre Tax Profit 30 990 57 275 73 273 63 618 74 369 518 238 50 330 -14 232 Number of days traded 251 Tax 7 731 14 837 20 558 10 150 20 984 13 432 14 179 1 988 Avg. Trades pr Day 150.56 Minority Interests 3 470 6 004 5 169 6 045 0 5 336 5 422 0 Net Income 19 789 36 434 47 546 47 423 53 385 499 470 30 729 -16 220 Key Figures 2006 EPS 0,63 1,14 1,48 1,47 1,65 15,36 0,94 -0,33 (Preliminary figures) Price Book 3,64 3,38 4,39 4,13 3,79 2,89 0,93 1,39 Long Term Fixed Assets 281 513 302 797 317 764 329 077 377 149 659 466 1 316 980 1 475 268 Operating result per Share 3.85 Current Assets 851 143 966 592 977 944 973 024 1 120 718 1 255 348 3 392 545 2 560 567 BVPS 44.52 Cash 309 582 332 723 364 061 466 573 421 787 327 370 1 063 182 750 074 Gross Margin 0.25 Total Assets 1 442 238 1 602 112 1 659 769 1 768 674 1 919 654 2 242 184 5 772 707 4 785 909 EBITDA Margin 0.06 Total Equity 723 414 778 332 841 371 915 957 963 723 975 972 2 527 300 2 404 573 EBITDA 189,315 Long term debt 0 235 543 228 434 227 663 213 742 213 843 512 432 464 594 EBITA 189,315 Short term debt 432 589 556 394 557 165 591 553 707 974 1 018 035 2 443 984 1 538 052 Net Margin 0.03 Total Liability and Equity 1 442 237 1 602 112 1 659 769 1 768 675 1 919 653 2 242 184 5 772 708 4 785 909 ROE 3.86 Net Interestbearing Debt -281 548 -27 594 -80 275 -186 126 -130 644 284 661 -31 892 -181 219 Chg Operating Activities -67 976 26 448 68 964 135 981 -71 299 -65 923 -60 068 -52 823 Chg Investing activities -21 706 -24 002 -15 866 -34 705 -209 -328 589 685 453 422 408 Chg Financing activities 13 295 20 696 -21 761 1 235 26 722 300 096 110 427 -682 691 Chg Cash and Liquids -76 387 23 142 31 337 102 511 -44 786 -94 416 735 812 -313 106

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 149 Company: Ementor ASA Share Price 40,0 Ticker: EME 30,0 20,0 Company Presentation: Ementor is a leading provider of infrastructure products and services in the Nordic region with a pro forma revenue of almost NOK 13 10,0 bn. in 2006. The company, which also includes Topnordic and Atea, is represen- Period ted in the largest cities in Norway, Denmark, Sweden, Finland and Latvia. 0 Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004822503 Revenue 971 900 972 700 757 900 1 086 000 1 011 800 1 547 900 1 981 000 4 206 400 Round Lot 200.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 944,890.43 Operating Costs 1 009 200 1 000 000 723 100 1 123 800 993 900 1 505 100 2 175 700 4 036 100 Number of Shares 94,489.04 EBITDA -37 300 -27 300 34 800 -37 800 17 900 42 800 -194 700 170 300 Currency NOK Depreciation 23 300 23 500 94 700 15 800 15 700 18 100 23 500 22 100 Gics 45 EBIT -60 600 -50 800 -59 900 -53 600 2 200 24 700 -218 200 148 200 Listed From 3/28/85 Net Financials -8 300 -7 200 -9 700 -7 800 -7 600 -5 000 -7 300 -13 400 Par Value 10.00 Pre Tax Profit -86 200 -63 800 -28 300 25 400 -19 700 53 700 -219 300 134 800 Number of days traded 251 Tax 0 0 0 100 0 0 0 -10 300 Avg. Trades pr Day 360.77 Minority Interests 0 0 0 0 0 -1 000 -500 100 Net Income -86 200 -63 800 -28 300 25 300 -19 700 54 700 -218 800 145 000 Key Figures 2006 EPS -2,26 -1,67 -0,74 0,66 -0,42 0,72 -2,35 1,54 (Preliminary figures) Price Book 5,84 8,67 11,25 9,89 2,05 1,45 1,78 1,94 Long Term Fixed Assets 329 400 339 800 316 800 262 500 1 454 000 1 443 900 2 008 800 2 093 700 Operating result per Share -0.56 Current Assets 977 300 1 041 200 795 400 1 060 500 1 265 700 1 446 000 2 704 600 3 705 800 BVPS 18.56 Cash 261 800 254 600 210 400 404 200 423 800 153 600 0 645 900 Gross Margin 0.23 Total Assets 1 568 500 1 635 600 1 322 600 1 727 200 3 143 500 3 043 500 4 713 400 6 445 400 EBITDA Margin 0.00 Total Equity 151 800 88 500 61 100 86 500 1 314 800 1 375 700 1 607 100 1 754 000 EBITDA 36,000 Long term debt 26 300 23 600 26 500 7 000 9 900 9 200 10 500 11 800 EBITA -43,500 Short term debt 1 355 900 1 489 000 1 200 500 1 611 700 1 802 100 1 643 300 3 065 400 4 626 800 Net Margin 0.00 Total Liability and Equity 1 568 500 1 635 600 1 322 600 1 727 200 3 143 400 3 043 500 4 713 400 6 445 500 ROE -2.84 Net Interestbearing Debt 65 800 135 300 138 300 -42 200 151 400 298 800 925 000 783 300 Chg Operating Activities -205 000 -34 900 -45 000 28 600 -71 000 -165 600 107 300 -112 300 Chg Investing activities -13 400 -26 500 52 700 123 100 156 000 18 500 -622 700 33 800 Chg Financing activities -77 600 54 200 -51 800 42 000 -65 400 -123 000 582 300 503 900 Chg Cash and Liquids -296 000 -7 200 -44 100 193 700 19 600 -270 100 66 900 425 400

Company: Exense ASA Share Price 8,0 Ticker: EXE 6,0 4,0 Company Presentation: Exense is a consulting and software company with long and broad expertise in selected areas. The company has branch 2,0 offices in Oslo, Trondheim, Stockholm and Luleå. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003116709 Revenue 19 006 18 357 18 854 24 500 24 707 27 548 27 488 34 003 Round Lot 1,000.00 Other Income 0 0 0 0 0 4 165 60 1 Reg.Share Capital (mill) 2,953.24 Operating Costs 17 266 18 343 15 158 21 000 21 111 26 171 20 963 29 810 Number of Shares 24,610.31 EBITDA 1 740 14 3 696 3 500 3 596 5 542 6 585 4 194 Currency NOK Depreciation 847 841 866 880 925 942 924 1 007 Gics 45 EBIT 893 -827 2 830 2 620 2 671 4 600 5 661 3 187 Listed From 8/15/00 Net Financials -191 -174 14 -579 -46 9 -95 -254 Par Value 0.12 Pre Tax Profit 702 -1 001 2 844 2 041 2 625 4 609 5 566 2 933 Number of days traded 156 Tax -119 -280 797 -691 624 1 180 1 425 654 Avg. Trades pr Day 7.58 Minority Interests 0 0 0 0 0 0 0 0 Net Income 821 -721 2 047 2 732 2 001 3 429 4 141 2 279 Key Figures 2006 EPS 0,06 -0,05 0,09 0,11 0,08 0,14 0,17 0,09 (Preliminary figures) Price Book 5,78 1,13 1,47 1,63 1,85 2,29 1,73 2,96 Long Term Fixed Assets 29 815 29 470 50 853 51 699 51 241 62 350 78 545 80 204 Operating result per Share 0.67 Current Assets 21 022 21 497 21 639 24 009 27 573 29 811 29 482 34 684 BVPS 2.51 Cash 3 817 5 373 10 045 11 479 15 932 19 815 21 616 27 827 Gross Margin 0.92 Total Assets 54 654 56 340 82 537 87 187 94 746 111 976 129 643 142 715 EBITDA Margin 0.17 Total Equity 13 174 30 509 52 690 54 335 56 443 52 592 61 340 61 883 EBITDA 19,922 Long term debt 273 199 134 322 199 14 104 19 592 18 910 EBITA 16,120 Short term debt 38 044 22 768 27 005 29 902 35 584 42 865 45 161 57 036 Net Margin 0.10 Total Liability and Equity 54 654 56 340 82 537 87 188 94 745 111 978 129 643 142 715 ROE 11.85 Net Interestbearing Debt 8 963 -5 174 -8 358 -5 979 -14 385 2 842 5 269 6 463 Chg Operating Activities 4 227 837 5 361 5 876 11 176 18 367 16 389 19 342 Chg Investing activities -1 663 -2 664 -3 885 -6 550 -2 770 -8 102 -7 684 -10 407 Chg Financing activities -1 760 4 189 5 556 9 141 -3 953 -1 929 1 432 7 413 Chg Cash and Liquids 804 2 362 7 032 8 467 4 453 8 336 10 137 16 348

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 150 Company: Fara ASA Share Price 3,5 Ticker: FARA 2,5

1,5 Company Presentation: Fara is a Norwegian supplier of products and technology for Automatic Fare Collection (AFC) for the public transport sector. 0,5 Fara is based in Trondheim. 0 Period Des 05 Jun 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010296007 Revenue 18 205 26 888 19 658 11 460 4 623 Round Lot 5,000.00 Other Income 0 0 0 0 0 Reg.Share Capital (mill) 1,501.32 Operating Costs 25 117 34 293 26 494 13 544 17 718 Number of Shares 75,066.23 EBITDA -6 912 -7 405 -6 836 -2 084 -13 095 Currency NOK Depreciation 443 159 158 659 1 659 Gics 45 EBIT -7 355 -7 564 -6 994 -2 743 -14 754 Listed From 12/16/05 Net Financials 15 -91 -78 -9 59 Par Value 0.02 Pre Tax Profit -7 340 -7 655 -7 072 -2 752 -14 695 Number of days traded 232 Tax 0 0 0 0 0 Avg. Trades pr Day 22.74 Minority Interests 0 0 0 0 0 Net Income -7 340 -7 655 -7 072 -2 752 -14 695 Key Figures 2006 EPS -0,12 -0,12 -0,10 -0,04 -0,02 (Preliminary figures) Price Book 2,29 3,00 2,59 2,73 3,55 Long Term Fixed Assets 32 085 31 850 31 574 31 111 29 453 Operating result per Share -0.43 Current Assets 49 950 54 058 51 086 43 242 33 467 BVPS 0.76 Cash 9 678 2 435 0 15 025 11 939 Gross Margin 0.60 Total Assets 91 713 88 343 82 660 89 378 74 859 EBITDA Margin -0.47 Total Equity 59 427 65 703 58 630 71 477 56 950 EBITDA -29,421 Long term debt 0 0 0 0 0 EBITA -32,055 Short term debt 32 285 22 640 23 906 17 662 17 909 Net Margin -0.51 Total Liability and Equity 91 712 88 343 82 660 89 378 74 859 ROE -32.15 Net Interestbearing Debt -9 678 -2 435 4 336 -15 025 -11 939 Chg Operating Activities -46 512 -20 985 -27 755 -22 896 -25 882 Chg Investing activities -20 119 0 0 0 0 Chg Financing activities 16 000 13 742 13 742 28 242 28 143 Chg Cash and Liquids -50 631 -7 243 -14 013 5 346 2 261 Share Price Company: Fast Search & Transfer ASA 3,0

Ticker: FAST 20,0

Company Presentation: Fast Search & Transfer (FAST) creates the real-time 10,0 search and business intelligence solutions used at some of the world’s best- known companies with the most demanding information challenges. FAST has presence on six continents: Europe, North America, South America, Asia, 0 Period Australia and Africa. Jan05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003109605 Revenue 133 626 153 911 171 905 206 185 218 858 240 016 268 736 313 704 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 142,704.94 Operating Costs 100 807 114 164 128 228 156 082 180 093 180 818 284 050 266 884 Number of Shares 356,762.34 EBITDA 32 819 39 747 43 677 50 102 38 765 59 199 -15 315 46 820 Currency NOK Depreciation 10 148 11 561 11 852 13 892 15 202 21 845 27 340 32 112 Gics 45 EBIT 22 671 28 186 31 826 36 211 23 563 37 354 -42 654 14 707 Listed From 6/21/01 Net Financials 1 872 524 472 3 707 8 348 10 050 9 527 12 871 Par Value 0.40 Pre Tax Profit 24 544 28 710 32 298 38 963 31 912 47 404 -33 128 27 578 Number of days traded 251 Tax 7 364 8 613 9 687 -14 276 14 955 14 219 -4 808 7 463 Avg. Trades pr Day 622.90 Minority Interests 0 0 0 0 0 0 0 0 Net Income 17 179 20 097 22 611 53 239 16 957 33 185 -28 320 20 115 Key Figures 2006 EPS 0,07 0,08 0,09 0,20 0,05 0,09 -0,09 0,06 (Preliminary figures) Price Book 3,89 4,80 6,47 4,29 3,36 2,68 2,43 2,13 Long Term Fixed Assets 287 018 299 864 348 442 618 558 639 292 737 302 736 618 775 019 Operating result per Share 0.05 Current Assets 235 582 253 602 283 134 349 901 2 212 773 474 884 538 075 697 093 BVPS 7.31 Cash 508 460 525 292 534 594 885 583 0 1 689 200 1 680 470 1 454 561 Gross Margin 0.83 Total Assets 1 031 061 1 078 758 1 166 170 1 854 042 2 852 066 2 901 386 2 955 163 2 926 674 EBITDA Margin 0.02 Total Equity 854 662 892 816 979 206 1 634 032 2 604 406 2 635 654 2 664 143 2 609 184 EBITDA 16,334 Long term debt 33 795 0 0 11 256 7 840 0 0 2 621 EBITA 16,334 Short term debt 142 604 158 651 167 340 208 753 239 820 252 911 274 440 304 992 Net Margin 0.02 Total Liability and Equity 1 031 061 1 078 758 1 166 170 1 854 042 2 852 066 2 901 386 2 955 163 2 926 674 ROE 0.61 Net Interestbearing Debt -474 665 -525 292 -534 594 -874 327 7 840 -1 689 200 -1 680 470 -1 451 940 Chg Operating Activities 43 055 35 770 9 299 22 903 -387 20 437 16 118 -47 712 Chg Investing activities -20 692 -30 520 -61 080 -282 465 -137 370 -114 142 -74 568 -136 387 Chg Financing activities 6 265 563 61 720 592 886 1 076 113 24 456 879 39 Chg Cash and Liquids 21 176 -531 9 570 325 632 971 402 -69 249 -77 515 -165 744

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 151 Share Price Company: Funcom N.V. 40,0 Ticker: FUNCOM 30,0 20,0 Company Presentation: Funcom is a leading developer of multiplayer online computer games. Visit www.funcom.com , www.dreamfall.com or www.ageof- 10,0 conan.com for more information. 0 Period Dec05 Jun 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NL0000062461 Revenue 7 179 13 434 12 332 28 730 14 024 13 783 Round Lot 500.00 Other Income 0 0 0 0 0 0 Reg.Share Capital (mill) 1,909.05 Operating Costs 8 368 13 998 15 469 18 618 12 942 16 120 Number of Shares 47,726.13 EBITDA -1 189 -564 -3 136 10 113 1 082 -2 338 Currency EUR Depreciation 1 215 1 830 1 068 17 720 3 315 4 194 Gics 45 EBIT -2 404 -2 394 -4 204 -7 608 -2 233 -6 532 Listed From 12/13/05 Net Financials 834 -2 109 8 188 12 561 -5 465 9 248 Par Value 0.04 Pre Tax Profit -1 570 -4 502 3 984 4 953 -7 698 2 717 Number of days traded 242 Tax 58 -219 40 455 114 -17 552 Avg. Trades pr Day 27.13 Minority Interests 0 544 -140 -62 -234 -283 Net Income -1 628 -4 827 4 084 4 561 -7 578 20 552 Key Figures 2006 EPS 0,00 -0,14 0,09 0,10 -0,16 0,43 (Preliminary figures) Price Book 0,00 2,67 3,65 3,76 3,30 2,96 Long Term Fixed Assets 67 369 90 687 100 949 95 902 115 257 145 519 Operating result per Share -0.40 Current Assets 6 064 7 831 11 533 23 634 19 306 17 821 BVPS 7.75 Cash 29 848 178 558 290 907 264 828 250 717 234 085 Gross Margin 1.00 Total Assets 103 281 277 077 403 389 384 363 385 280 397 424 EBITDA Margin 0.09 Total Equity 77 724 227 056 370 239 356 903 363 405 370 996 EBITDA 6,174 Long term debt 0 4 989 0 961 1 008 0 EBITA -20,666 Short term debt 25 557 45 032 33 149 26 499 20 867 26 428 Net Margin 0.31 Total Liability and Equity 103 281 277 077 403 389 384 363 385 280 397 424 ROE 4.04 Net Interestbearing Debt -29 848 -173 570 -290 907 -263 866 -249 709 -234 085 Chg Operating Activities -394 11 080 -4 464 -6 362 -5 554 1 837 Chg Investing activities -35 445 -51 263 -19 433 -36 026 -54 793 -79 298 Chg Financing activities 46 456 194 468 135 515 123 663 125 642 127 081 Chg Cash and Liquids 10 617 154 285 111 618 81 274 76 946 49 620 Share Price Company: Ignis ASA 1,4 Ticker: IGNIS 1,0

0,6 Company Presentation: Ignis ASA consists of two divisions, Technology and Solution. Technology division designs and produces optical components for 0,2 Fiber-To-The-Home market, while Solution division installs and operates highly 0 Period developed telesystems. Jan 05 Jun 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003087504 Revenue 16 182 16 029 17 939 21 667 22 776 33 936 35 463 29 416 Round Lot 10,000.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 59,468.25 Operating Costs 24 713 24 441 24 210 38 347 36 244 45 606 46 368 46 774 Number of Shares 594,682.46 EBITDA -8 531 -8 412 -6 271 -16 680 -13 468 -11 670 -10 905 -17 358 Currency NOK Depreciation 1 297 5 601 3 371 9 687 3 427 3 569 3 540 4 487 Gics 45 EBIT -9 828 -14 013 -9 642 -26 367 -16 895 -15 239 -14 445 -21 845 Listed From 11/12/97 Net Financials -95 -1 338 -962 486 -1 900 -1 786 -130 -1 875 Par Value 0.10 Pre Tax Profit -9 923 -15 351 -10 604 -25 881 -18 795 -17 025 -14 575 -23 720 Number of days traded 251 Tax 0 0 0 -1 818 0 12 0 -874 Avg. Trades pr Day 204.45 Minority Interests 0 0 0 0 -266 575 1 131 102 Net Income -9 923 -15 351 -10 604 -24 063 -18 529 -17 612 -15 706 -22 948 Key Figures 2006 EPS -0,02 -0,04 -0,02 -0,04 -0,03 -0,03 -0,03 -0,04 (Preliminary figures) Price Book 4,18 7,63 4,73 6,04 5,26 6,01 5,83 6,02 Long Term Fixed Assets 83 545 87 264 90 957 86 950 137 335 140 544 131 029 129 186 Operating result per Share -0.12 Current Assets 19 863 25 425 19 469 26 722 34 610 35 460 0 65 251 BVPS 0.14 Cash 10 360 20 003 107 275 64 270 96 717 45 971 75 740 42 686 Gross Margin 0.43 Total Assets 113 768 132 692 217 701 177 942 268 662 221 975 206 769 237 123 EBITDA Margin -0.45 Total Equity 54 561 44 233 134 965 111 958 112 936 95 921 84 454 104 467 EBITDA -53,400 Long term debt 0 19 294 18 993 19 331 86 575 83 864 58 752 81 767 EBITA -65,936 Short term debt 44 054 69 165 63 743 46 653 69 151 42 191 63 563 50 889 Net Margin -0.64 Total Liability and Equity 113 768 132 692 217 701 177 942 268 662 221 976 206 769 237 123 ROE -39.34 Net Interestbearing Debt -10 360 -709 -88 282 -44 939 -10 142 37 893 -16 988 39 081 Chg Operating Activities -11 458 -14 822 -1 027 -32 006 -18 197 -31 560 -44 684 -78 665 Chg Investing activities -1 240 -3 994 -7 066 -59 924 -2 295 -36 182 -42 148 -19 416 Chg Financing activities 15 410 28 457 95 365 148 551 56 734 49 437 44 043 84 564 Chg Cash and Liquids 2 712 9 641 87 272 56 621 36 242 -18 305 -42 789 -13 517

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 152 Share Price Company: Inmeta ASA 4,0 Ticker: INM 3,0 2,0 Company Presentation: Inmeta’s core competence and business area is associated with the software producer’s volume license agreements. 1,0 Inmeta’s main focus is sales, license management, courses and deployment 0 Period of Microsoft, Adobe and Symantec products as well as record management. Jan 05 Dec 06 Dec 06 Inmeta has 80 employees in Scandinavia.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010026230 Revenue 22 940 39 129 19 647 57 398 39 694 40 877 21 209 86 109 Round Lot 2,000.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 8,061.82 Operating Costs 23 985 34 797 21 206 50 766 37 603 35 553 23 094 80 166 Number of Shares 38,389.63 EBITDA -1 045 4 332 -1 559 6 632 2 091 5 324 -1 885 5 943 Currency NOK Depreciation 169 190 195 189 184 185 175 201 Gics 45 EBIT -1 214 4 142 -1 754 6 443 1 907 5 139 -2 060 5 742 Listed From 10/8/99 Net Financials -91 -98 -205 -18 43 -119 -21 90 Par Value 0.21 Pre Tax Profit -1 305 4 044 -1 959 6 425 1 950 5 020 -2 081 5 832 Number of days traded 245 Tax -365 1 132 -549 1 799 546 1 406 -583 1 650 Avg. Trades pr Day 25.06 Minority Interests 0 0 0 0 0 0 0 0 Net Income -940 2 912 -1 410 4 626 1 404 3 614 -1 498 4 182 Key Figures 2006 EPS -0,02 0,10 -0,04 0,12 0,04 0,09 -0,04 0,11 (Preliminary figures) Price Book 1,74 2,03 2,26 1,91 2,20 2,78 3,47 3,23 Long Term Fixed Assets 32 757 31 958 32 344 30 560 31 889 30 313 31 057 33 990 Operating result per Share 0.28 Current Assets 21 981 39 545 21 867 47 799 29 808 35 059 18 730 86 094 BVPS 1.08 Cash 3 830 3 362 8 171 4 553 3 823 10 036 11 762 4 424 Gross Margin 0.22 Total Assets 58 568 74 865 62 382 82 912 65 520 75 408 61 549 124 508 EBITDA Margin 0.06 Total Equity 42 470 35 784 34 374 39 001 40 383 40 158 38 659 41 615 EBITDA 11,473 Long term debt 0 0 10 199 0 0 0 3 600 3 360 EBITA 10,728 Short term debt 16 098 39 081 17 809 43 911 25 137 35 250 19 290 79 533 Net Margin 0.04 Total Liability and Equity 58 568 74 865 62 382 82 912 65 520 75 408 61 549 124 508 ROE 11.11 Net Interestbearing Debt -3 810 8 934 2 028 -4 553 -1 659 -6 683 -8 162 1 568 Chg Operating Activities 5 654 3 032 9 969 16 754 -835 8 042 9 857 4 049 Chg Investing activities -72 -596 -628 -832 -2 081 -2 095 -2 431 -3 721 Chg Financing activities -5 818 -3 140 -5 236 -15 435 2 164 -486 -239 479 Chg Cash and Liquids -236 -704 4 105 487 -752 5 461 7 187 807 Share Price Company: Itera Consulting Group ASA 6,0 5,0 Ticker: ITE 4,0 3,0 Company Presentation: Itera Consulting Group is a Scandinavian consultancy 2,0 company that offers next generation business solutions for knowledge workers. 1,0 Located in Oslo, Stavanger, Stockholm and Copenhagen. 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010001118 Revenue 67 573 72 982 60 052 81 559 87 066 86 162 79 138 105 628 Round Lot 2,000.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 44,670.17 Operating Costs 59 897 63 761 52 975 70 865 75 702 76 776 69 737 87 862 Number of Shares 89,340.35 EBITDA 7 676 9 221 7 077 10 694 11 364 9 386 9 401 17 766 Currency NOK Depreciation 2 085 2 203 1 711 1 542 1 672 1 754 1 707 2 089 Gics 45 EBIT 5 591 7 018 5 366 9 152 9 692 7 632 7 694 15 677 Listed From 1/27/99 Net Financials 209 263 301 360 301 466 433 637 Par Value 0.50 Pre Tax Profit 5 800 7 281 5 667 9 512 9 993 8 098 8 127 16 314 Number of days traded 251 Tax 0 0 0 0 0 0 0 0 Avg. Trades pr Day 40.08 Minority Interests 0 0 0 0 0 0 0 0 Net Income 5 800 7 281 5 667 9 512 9 993 8 098 8 127 16 314 Key Figures 2006 EPS 0,06 0,08 0,06 0,10 0,11 0,09 0,09 0,02 (Preliminary figures) Price Book 2,13 2,11 3,00 2,78 2,85 2,93 3,74 3,37 Long Term Fixed Assets 60 093 59 657 60 088 63 966 64 446 64 743 67 290 64 304 Operating result per Share 0.45 Current Assets 51 997 53 438 50 554 63 881 64 890 68 704 74 226 59 143 BVPS 1.45 Cash 83 163 91 538 75 668 86 606 92 533 101 182 60 284 97 917 Gross Margin 0.82 Total Assets 195 253 204 633 186 310 214 453 221 869 234 629 201 800 221 364 EBITDA Margin 0.13 Total Equity 133 103 142 063 128 035 133 972 142 952 150 168 116 371 129 779 EBITDA 47,914 Long term debt 3 448 0 0 862 589 0 0 0 EBITA 40,692 Short term debt 58 702 62 570 58 275 79 619 78 328 84 461 85 429 91 585 Net Margin 0.11 Total Liability and Equity 195 253 204 633 186 310 214 453 221 869 234 629 201 800 221 364 ROE 16.86 Net Interestbearing Debt -79 715 -88 625 -72 691 -85 744 -91 944 -100 865 -60 240 -97 917 Chg Operating Activities 4 673 7 167 7 143 22 640 10 411 11 978 5 857 40 044 Chg Investing activities -999 1 743 -4 434 -9 587 -2 652 -2 053 -4 252 -2 466 Chg Financing activities -517 -535 -18 541 -2 115 -1 832 -1 276 -42 503 0 Chg Cash and Liquids 3 157 8 375 -15 832 10 938 5 927 8 649 -40 898 37 578

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 153 Share Price Company: Kitron ASA 6,0 5,0 Ticker: KIT 4,0 3,0 Company Presentation: Kitron is one of Scandinavia`s leading companies in the 2,0 development and manufacturing of electronics for medical, defence, data/tele- 1,0 com, and process industries. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003079709 Isin NO0003105405 Revenue 379 867 421 612 331 405 443 457 433 113 395 240 350 429 514 778 Round Lot 2,000.00 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 172,961.63 Reg.Share Capital (mill) 26,524.63 Operating Costs 373 516 405 348 319 075 480 971 406 057 382 604 328 744 482 318 Number of Shares 172,961.63 Number of Shares 53,049.25 EBITDA 6 351 16 264 12 330 -37 514 27 056 12 636 21 685 32 460 Currency NOK Currency NOK Depreciation 7 662 9 815 8 197 7 202 6 467 6 923 7 393 8 603 Gics 45 Gics 45 EBIT -1 311 6 449 4 133 -44 716 20 589 5 713 14 292 23 857 Listed From 1/16/98 Listed From 5/10/04 Net Financials -5 676 -6 248 -5 557 -5 288 -4 472 -4 568 -4 222 -5 748 Par Value 1.00 Par Value 0.50 Pre Tax Profit -6 987 201 -1 424 -50 004 16 117 1 145 10 070 18 109 Number of days traded 251 Number of days traded 185 Tax 0 0 0 726 251 661 1 039 1 812 Avg. Trades pr Day 42.94 Avg. Trades pr Day 8.98 Minority Interests 0 0 0 0 0 0 0 0 Net Income -6 987 201 -1 424 -50 730 15 866 484 9 031 16 297 Key Figures 2006 Key Figures 2006 EPS -0,05 0,00 -0,01 -0,31 0,09 0,00 0,05 0,09 (Preliminary figures) (Preliminary figures) Price Book 2,98 2,77 3,58 3,34 3,75 4,39 3,55 4,61 Long Term Fixed Assets 166 024 157 081 154 645 154 981 149 967 164 380 168 893 165 607 Operating result per Share 0.37 Operating result per Share -0.13 Current Assets 402 708 395 108 416 834 384 313 452 981 453 684 505 979 693 659 BVPS 1.07 BVPS 4.67 Cash 35 948 31 429 31 001 113 229 44 221 50 411 43 555 98 264 Gross Margin 0.40 Gross Margin 0.89 Total Assets 604 680 583 618 602 480 652 523 647 169 668 475 718 427 957 530 EBITDA Margin 0.06 EBITDA Margin 0.09 Total Equity 123 236 168 587 168 698 151 118 167 121 163 961 175 874 185 699 EBITDA 93,835 EBITDA 27,529 Long term debt 42 922 30 471 12 563 41 025 41 149 35 314 45 527 31 011 EBITA 64,448 EBITA -6,362 Short term debt 395 653 343 694 382 371 439 301 409 484 441 443 471 506 710 653 Net Margin 0.02 Net Margin 0.01 Total Liability and Equity 604 680 583 618 602 480 652 523 647 169 668 476 718 427 957 530 ROE 14.39 ROE 0.42 Net Interestbearing Debt 62 118 22 457 -4 563 -72 204 -3 072 -15 097 1 972 257 146 Chg Operating Activities -31 580 -6 804 -17 106 62 338 -73 880 -10 987 -45 100 139 609 Chg Investing activities -3 624 -1 180 -6 638 -29 082 -2 154 -25 766 -12 316 -5 179 Chg Financing activities 41 087 3 464 23 317 48 971 -2 423 -7 989 9 469 -10 883 Chg Cash and Liquids 5 883 -4 520 -427 82 227 -78 457 -44 742 -47 947 123 547

Company: Komplett ASA Share Price 120,0 Ticker: KOM 80,0 Company Presentation: Komplett is one of the leading European players in 40,0 Internet shopping, and its activities include the Internet shops Komplett.no, Komplett.se, Komplett.co.uk, Komplett.ie, Komplett.nl, Komplett.be, Komplett.fr and Komplett.dk. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010032097 Isin NO0003055501 Revenue 471 900 436 700 489 600 575 600 559 800 437 300 567 400 685 000 Round Lot 100.00 Round Lot 200.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 12,058.40 Reg.Share Capital (mill) 1,756.71 Operating Costs 457 400 423 700 469 500 549 800 535 800 418 800 546 100 651 350 Number of Shares 12,058.40 Number of Shares 35,134.12 EBITDA 14 500 13 000 20 100 25 800 24 000 18 500 21 300 33 650 Currency NOK Currency NOK Depreciation 2 400 2 500 2 500 2 700 2 600 2 600 3 100 3 300 Gics 45 Gics 45 EBIT 12 100 10 500 17 600 23 100 21 400 15 900 18 200 30 350 Listed From 11/6/00 Listed From 4/25/96 Net Financials 1 100 1 100 1 500 3 800 1 300 1 600 3 100 2 650 Par Value 1.00 Par Value 0.05 Pre Tax Profit 13 200 11 600 19 100 26 900 22 700 17 500 21 300 33 000 Number of days traded 205 Number of days traded 247 Tax 4 100 3 900 6 000 7 500 6 900 5 800 6 300 9 400 Avg. Trades pr Day 6.99 Avg. Trades pr Day 25.50 Minority Interests Net Income 9 100 7 700 13 100 19 400 15 800 11 700 15 000 23 600 Key Figures 2006 Key Figures 2006 EPS 0,75 0,64 1,09 1,61 1,31 0,97 1,24 1,96 (Preliminary figures) (Preliminary figures) Price Book 2,01 1,97 2,32 3,43 3,18 3,31 3,65 4,44 Long Term Fixed Assets 37 300 36 400 36 900 45 400 53 800 63 700 81 800 43 500 Operating result per Share 7.12 Operating result per Share 0.63 Current Assets 287 200 262 700 292 000 304 900 304 500 255 700 326 400 420 000 BVPS 28.14 BVPS 5.76 Cash 201 400 187 800 222 600 166 500 149 300 145 700 157 700 154 000 Gross Margin 0.14 Gross Margin 0.53 Total Assets 525 900 486 900 551 500 516 800 507 600 465 100 565 900 617 500 EBITDA Margin 0.04 EBITDA Margin 0.11 Total Equity 297 400 303 700 316 700 288 300 287 000 299 000 314 800 339 300 EBITDA 97,500 EBITDA 31,500 Long term debt 0 0 0 0 0 0 0 0 EBITA 85,900 EBITA 21,800 Short term debt 228 500 183 200 234 800 224 300 216 400 161 900 246 600 273 700 Net Margin 0.03 Net Margin 0.05 Total Liability and Equity 525 900 486 900 551 500 516 800 507 500 465 100 565 800 617 500 ROE 12.25 ROE 4.75 Net Interestbearing Debt -201 400 -187 800 -222 600 -166 500 -149 300 -145 700 -157 700 -154 000 Chg Operating Activities -3 800 24 100 37 800 1 200 -16 800 18 000 17 900 -700 Chg Investing activities -800 -1 500 -3 000 -9 100 -400 -4 800 -5 800 -3 000 Chg Financing activities 0 -36 200 0 -48 200 0 -16 900 0 0 Chg Cash and Liquids -4 600 -13 600 34 800 -56 100 -17 200 -3 700 12 100 -3 700

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 154 Company: Mamut ASA Share Price 16,0 Ticker: MAMUT 12,0 8,0 Company Presentation: Founded in 1994, Mamut (OSE “MAMUT”) is a leading European provider of complete, integrated software solutions and 4,0 internet services for SMEs. More than 300,000 European customers simplify 0 Period their daily business with solutions from Mamut. Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003079709 (All figures are in NOK ‘ 000) Isin NO0003105405 Round Lot 2,000.00 Revenue 48 548 43 284 36 520 51 791 59 693 52 740 91 704 108 229 Round Lot 500.00 Reg.Share Capital (mill) 172,961.63 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 26,524.63 Number of Shares 172,961.63 Operating Costs 41 919 38 965 35 917 45 628 52 445 45 713 97 717 88 960 Number of Shares 53,049.25 Currency NOK EBITDA 6 629 4 319 603 6 163 7 248 7 027 -6 013 19 269 Currency NOK Gics 45 Depreciation 2 242 2 524 2 988 3 500 3 825 4 124 15 825 10 118 Gics 45 Listed From 1/16/98 EBIT 4 387 1 795 -2 385 2 663 3 423 2 903 -21 838 9 151 Listed From 5/10/04 Par Value 1.00 Net Financials 209 273 115 -76 263 -182 -1 196 -265 Par Value 0.50 Number of days traded 251 Pre Tax Profit 4 596 2 068 -2 270 2 587 3 686 2 721 -15 896 8 886 Number of days traded 185 Avg. Trades pr Day 42.94 Tax 1 287 579 -704 1 786 1 032 761 -6 715 2 739 Avg. Trades pr Day 8.98 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 3 309 1 489 -1 566 801 2 654 1 960 -9 181 6 147 Key Figures 2006 (Preliminary figures) EPS 0,08 0,04 -0,04 0,02 0,06 0,04 -0,19 0,12 (Preliminary figures) Price Book 3,46 3,25 3,74 3,38 3,82 3,50 4,05 2,85 Operating result per Share 0.37 Long Term Fixed Assets 72 187 82 219 85 288 88 892 88 953 206 079 431 875 463 112 Operating result per Share -0.13 BVPS 1.07 Current Assets 44 614 40 177 46 218 54 976 58 048 53 480 116 591 125 003 BVPS 4.67 Gross Margin 0.40 Cash 45 881 41 100 85 607 83 294 91 462 54 291 50 387 57 855 Gross Margin 0.89 EBITDA Margin 0.06 Total Assets 162 682 163 496 217 113 227 162 238 463 313 850 598 853 645 970 EBITDA Margin 0.09 EBITDA 93,835 Total Equity 121 907 131 980 181 339 188 700 188 647 192 505 176 534 247 929 EBITDA 27,529 EBITA 64,448 Long term debt 0 0 0 0 0 85 000 223 274 179 706 EBITA -6,362 Net Margin 0.02 Short term debt 40 651 31 390 35 649 38 329 49 683 36 212 198 913 184 056 Net Margin 0.01 ROE 14.39 Total Liability and Equity 162 683 163 495 217 113 227 162 238 463 313 850 598 854 645 970 ROE 0.42 Net Interestbearing Debt -45 677 -40 885 -84 710 -83 294 -91 462 30 709 172 887 121 851 Chg Operating Activities 10 804 1 409 -1 602 1 855 16 981 -1 040 5 911 5 313 Chg Investing activities -7 133 -13 129 -5 238 -7 466 -4 848 -120 476 -163 517 -10 522 Chg Financing activities -1 462 7 034 50 924 5 142 -3 530 84 182 111 594 17 659 Chg Cash and Liquids 2 231 -4 792 43 826 -1 418 8 169 -37 171 -40 279 7 468

Company: Nordic Semiconductor ASA Share Price 80,0 Ticker: NOD 60,0 40,0 Company Presentation: Nordic Semiconductor ASA is a worldwide semiconductor company, specializing in components for wireless communication, mixed 20,0 signal, complex digital and analog integrated circuit design. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010032097 (All figures are in NOK ‘ 000) Isin NO0003055501 Round Lot 100.00 Revenue 55 400 81 600 81 200 77 400 53 000 60 600 91 500 80 700 Round Lot 200.00 Reg.Share Capital (mill) 12,058.40 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 1,756.71 Number of Shares 12,058.40 Operating Costs 54 800 65 800 61 200 67 400 51 100 59 100 74 100 72 600 Number of Shares 35,134.12 Currency NOK EBITDA 600 15 800 20 000 10 000 1 900 1 500 17 400 8 100 Currency NOK Gics 45 Depreciation 400 700 1 100 1 300 1 800 2 000 2 300 3 500 Gics 45 Listed From 11/6/00 EBIT 200 15 100 18 900 8 700 100 -500 15 100 4 600 Listed From 4/25/96 Par Value 1.00 Net Financials 2 900 2 000 500 2 200 -800 -1 700 0 1 000 Par Value 0.05 Number of days traded 205 Pre Tax Profit 3 100 17 100 19 400 10 900 -700 -2 200 15 100 5 600 Number of days traded 247 Avg. Trades pr Day 6.99 Tax 900 4 800 5 400 3 100 -200 100 4 200 1 600 Avg. Trades pr Day 25.50 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 2 200 12 300 14 000 7 800 -500 -2 300 10 900 4 000 Key Figures 2006 (Preliminary figures) EPS 0,07 0,38 0,42 0,24 -0,01 -0,07 0,31 0,11 (Preliminary figures) Price Book 20,46 16,06 12,59 13,74 12,60 8,05 9,41 8,16 Operating result per Share 7.12 Long Term Fixed Assets 28 700 25 400 33 800 35 400 36 000 35 800 30 400 27 900 Operating result per Share 0.63 BVPS 28.14 Current Assets 78 300 110 800 122 000 98 700 84 800 104 500 138 400 129 000 BVPS 5.76 Gross Margin 0.14 Cash 46 700 55 600 30 500 74 600 109 100 79 000 80 300 90 300 Gross Margin 0.53 EBITDA Margin 0.04 Total Assets 153 700 191 800 186 300 208 700 229 900 219 300 249 100 247 200 EBITDA Margin 0.11 EBITDA 97,500 Total Equity 103 900 135 500 149 800 160 100 193 800 194 100 204 500 202 300 EBITDA 31,500 EBITA 85,900 Long term debt 0 10 300 9 800 4 600 0 2 300 3 300 4 100 EBITA 21,800 Net Margin 0.03 Short term debt 33 400 46 000 26 700 44 000 33 100 22 900 41 300 40 800 Net Margin 0.05 ROE 12.25 Total Liability and Equity 153 700 191 800 186 300 208 700 229 900 219 300 249 100 247 200 ROE 4.75 Net Interestbearing Debt -46 700 -45 300 -20 700 -70 000 -109 100 -76 700 -77 000 -86 200 Chg Operating Activities -13 900 -7 500 -10 300 49 200 3 200 -28 200 3 000 17 400 Chg Investing activities -2 200 -2 200 -14 900 -5 100 -2 800 -1 900 -1 200 -1 200 Chg Financing activities 0 18 700 0 0 34 100 0 -500 -6 200 Chg Cash and Liquids -16 100 9 000 -25 200 44 100 34 500 -30 100 1 300 10 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 155 Company: Norman ASA Share Price 70,0 Ticker: NORMAN 50,0

30,0 Company Presentation: Norman ASA is a world leading company within the field of data security, internet protection and tools for analysis of malware. 10,0 Through its SandBox technology Norman offers a unique and proactive protec- 0 Period tion unlike any other competitor. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010225246 Isin NO0003068009 Revenue 56 216 56 735 55 760 62 517 63 527 62 890 60 836 65 177 Round Lot 200.00 Round Lot 1,000.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 3,926.54 Reg.Share Capital (mill) 21,899.73 Operating Costs 47 306 50 196 43 487 52 275 53 514 53 362 49 824 56 127 Number of Shares 10,198.81 Number of Shares 21,899.73 EBITDA 8 910 6 539 12 273 10 242 10 013 9 528 11 012 9 050 Currency NOK Currency NOK Depreciation 937 957 987 1 078 1 010 1 172 1 264 1 116 Gics 45 Gics 45 EBIT 7 973 5 582 11 286 9 164 9 003 8 356 9 748 7 934 Listed From 8/20/04 Listed From 7/6/98 Net Financials 208 7 351 93 277 383 268 399 Par Value 0.39 Par Value 1.00 Pre Tax Profit 8 181 5 589 11 637 9 257 9 280 8 739 10 016 8 333 Number of days traded 134 Number of days traded 214 Tax 2 468 1 545 3 262 2 642 2 644 2 328 2 804 131 Avg. Trades pr Day 7.22 Avg. Trades pr Day 9.85 Minority Interests 258 425 0 -85 469 192 180 677 Net Income 5 455 3 619 8 375 6 700 6 167 6 219 7 032 7 525 Key Figures 2006 Key Figures 2006 EPS 0,52 0,34 0,79 0,64 0,59 0,62 0,72 0,77 (Preliminary figures) (Preliminary figures) Price Book 76,31 87,40 35,83 46,11 105,31 -44,74 -77,67 645,31 Long Term Fixed Assets 54 104 54 216 50 844 48 771 47 061 46 754 45 178 50 101 Operating result per Share 3.51 Operating result per Share -2.88 Current Assets 32 713 37 421 34 515 40 453 38 807 44 653 43 504 46 220 BVPS 0.08 BVPS 13.84 Cash 79 185 74 653 79 790 83 520 84 956 64 497 67 847 77 873 Gross Margin 0.85 Gross Margin 0.37 Total Assets 166 002 166 290 165 149 172 744 170 824 155 904 156 529 174 194 EBITDA Margin 0.16 EBITDA Margin -0.04 Total Equity 9 050 7 085 15 657 12 970 6 382 -13 486 -7 222 880 EBITDA 39,604 EBITDA -12,345 Long term debt 0 0 0 0 30 178 0 0 0 EBITA 35,041 EBITA -63,138 Short term debt 124 752 127 898 118 351 129 293 132 826 134 680 127 970 136 106 Net Margin 0.11 Net Margin -0.18 Total Liability and Equity 166 002 166 290 165 149 172 744 170 824 155 904 156 529 174 194 ROE 238.65 ROE -10.57 Net Interestbearing Debt -79 185 -74 653 -79 790 -83 520 -54 778 -64 497 -67 847 -77 873 Chg Operating Activities 7 001 13 593 18 036 30 573 17 328 25 487 26 196 41 689 Chg Investing activities -645 -2 605 -3 763 -4 477 -3 875 -5 937 -7 316 -12 307 Chg Financing activities -37 692 -45 546 -43 546 -52 336 -11 478 -38 005 -36 005 -36 005 Chg Cash and Liquids -31 637 -36 169 -31 032 -27 302 1 436 -19 023 -15 673 -5 647

Company: Opera Software ASA Share Price 35,0 Ticker: OPERA 25,0

15,0 Company Presentation: Opera Software ASA is an industry leader in the development of Web browser technology, targeting the desktop, smartphone, 5,0 PDA, iTV and vertical markets. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010040611 Isin NO0003084105 Revenue 27 965 40 417 37 506 6 396 47 837 52 213 53 180 60 554 Round Lot 500.00 Round Lot 500.00 Other Income 0 0 0 41 669 0 735 0 0 Reg.Share Capital (mill) 2,338.56 Reg.Share Capital (mill) 19,172.93 Operating Costs 33 183 32 189 41 968 43 632 54 240 49 747 58 789 74 850 Number of Shares 116,928.25 Number of Shares 19,172.93 EBITDA -5 218 8 228 -4 462 4 433 -6 403 3 201 -5 609 -14 296 Currency NOK Currency NOK Depreciation 366 420 675 594 806 1 018 1 145 1 395 Gics 45 Gics 45 EBIT -5 584 7 808 -5 137 3 839 -7 209 2 183 -6 754 -15 691 Listed From 3/11/04 Listed From 10/24/05 Net Financials 885 492 1 144 1 170 705 -264 5 369 3 065 Par Value 0.02 Par Value 1.00 Pre Tax Profit -4 699 8 300 -3 993 5 009 -6 504 1 919 -1 385 -12 626 Number of days traded 251 Number of days traded 136 Tax -1 315 2 323 -1 094 1 428 -1 821 535 762 216 Avg. Trades pr Day 119.55 Avg. Trades pr Day 3.75 Minority Interests 0 0 0 0 0 0 0 0 Net Income -3 384 5 977 -2 899 3 581 -4 683 1 384 -2 147 -12 842 Key Figures 2006 Key Figures 2006 EPS -0,03 0,06 -0,03 0,03 -0,04 0,01 -0,02 -0,11 (Preliminary figures) (Preliminary figures) Price Book 3,50 3,46 8,54 7,98 7,08 5,49 3,23 3,39 Long Term Fixed Assets 8 436 11 686 11 269 12 623 19 527 22 906 25 356 33 627 Operating result per Share -0.24 Operating result per Share -1.04 Current Assets 49 361 56 038 76 637 93 347 85 646 83 772 98 092 104 233 BVPS 4.27 BVPS 8.16 Cash 220 565 225 783 205 893 218 526 442 531 456 727 415 982 424 498 Gross Margin 1.00 Gross Margin 0.95 Total Assets 278 362 293 507 293 799 324 496 547 704 563 405 539 430 562 358 EBITDA Margin 0.22 EBITDA Margin 0.01 Total Equity 261 451 271 998 274 489 289 798 492 490 507 657 505 651 499 783 EBITDA 46,854 EBITDA 1,379 Long term debt 0 0 0 0 0 0 0 0 EBITA -27,471 EBITA -11,533 Short term debt 16 911 21 509 19 310 34 698 10 330 55 748 31 442 62 575 Net Margin -0.09 Net Margin -0.07 Total Liability and Equity 278 362 293 507 293 799 324 496 547 704 563 405 539 432 562 358 ROE -2.69 ROE -5.43 Net Interestbearing Debt -220 565 -225 783 -205 893 -218 526 -442 531 -456 727 -415 982 -424 498 Chg Operating Activities -19 797 2 290 -19 559 1 892 22 745 6 865 -39 975 10 004 Chg Investing activities -913 -843 -4 101 -3 529 -4 793 -2 376 -1 785 -4 583 Chg Financing activities 0 3 770 3 771 14 270 206 053 9 707 1 013 3 095 Chg Cash and Liquids -20 710 5 217 -19 889 12 633 224 005 14 196 -40 747 8 516

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 156 Company: Otrum ASA Share Price 40,0 Ticker: OTR 30,0 20,0 Company Presentation: OTRUM is the leading provider of interactive TV solutions and content to the hospitality industry in Europe, the Middle East and 10,0 Africa. OTRUM technology is installed in more than 400.000 rooms. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010225246 (All figures are in NOK ‘ 000) Isin NO0003068009 Round Lot 200.00 Revenue 89 774 84 064 85 026 87 396 71 178 73 726 93 453 95 401 Round Lot 1,000.00 Reg.Share Capital (mill) 3,926.54 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 21,899.73 Number of Shares 10,198.81 Operating Costs 69 692 69 878 70 710 73 649 74 422 66 068 118 619 87 837 Number of Shares 21,899.73 Currency NOK EBITDA 20 082 14 186 14 316 13 747 -3 244 7 658 -25 166 7 564 Currency NOK Gics 45 Depreciation 9 989 11 495 11 448 12 484 11 788 12 286 13 304 12 580 Gics 45 Listed From 8/20/04 EBIT 10 093 2 691 2 868 1 263 -15 032 -4 628 -38 470 -5 016 Listed From 7/6/98 Par Value 0.39 Net Financials -7 -2 500 -1 494 189 -134 -305 4 360 1 416 Par Value 1.00 Number of days traded 134 Pre Tax Profit 10 086 191 1 374 1 452 -15 166 -4 933 -34 110 -3 600 Number of days traded 214 Avg. Trades pr Day 7.22 Tax 0 990 851 0 30 8 321 2 228 Avg. Trades pr Day 9.85 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 10 086 -799 523 1 452 -15 196 -4 941 -34 431 -5 828 Key Figures 2006 (Preliminary figures) EPS 0,46 -0,04 0,02 0,07 -0,69 -0,23 -1,57 -0,27 (Preliminary figures) Price Book 1,92 2,01 2,16 1,66 1,42 0,93 0,71 1,08 Operating result per Share 3.51 Long Term Fixed Assets 201 922 203 127 201 627 185 745 203 445 216 558 210 590 219 006 Operating result per Share -2.88 BVPS 0.08 Current Assets 148 988 125 509 148 115 180 368 164 541 179 775 187 849 183 998 BVPS 13.84 Gross Margin 0.85 Cash 105 710 99 610 85 879 83 385 80 282 45 114 43 716 104 518 Gross Margin 0.37 EBITDA Margin 0.16 Total Assets 456 620 428 246 435 621 449 498 448 268 441 447 442 155 507 522 EBITDA Margin -0.04 EBITDA 39,604 Total Equity 356 893 346 191 349 207 355 277 346 841 340 748 308 720 302 991 EBITDA -12,345 EBITA 35,041 Long term debt 0 0 0 0 0 0 0 0 EBITA -63,138 Net Margin 0.11 Short term debt 87 693 71 446 74 211 86 232 93 881 93 494 124 399 137 962 Net Margin -0.18 ROE 238.65 Total Liability and Equity 456 620 428 246 435 621 449 498 448 268 441 447 442 156 507 522 ROE -10.57 Net Interestbearing Debt -105 710 -99 610 -85 879 -83 385 -80 282 -45 114 -43 716 -104 518 Chg Operating Activities 9 962 22 390 17 999 19 265 25 703 -9 332 18 756 29 561 Chg Investing activities -7 051 -21 974 -31 367 -35 319 -27 381 -25 496 -9 279 -22 445 Chg Financing activities 150 0 0 0 0 -340 1 831 53 685 Chg Cash and Liquids 3 061 -3 832 -13 368 -16 054 -1 678 -35 168 11 308 60 801

Company: Powel ASA Share Price 30,0 25,0 Ticker: POWEL 20,0 15,0 Company Presentation: Powel ASA is a software company delivering business 10,0 critical decision support systems to the power industry and surveillance systems 5,0 to ensure reliable Water and Sewage infrastructure. 0 Period Oct 05 May 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010040611 (All figures are in NOK ‘ 000) Isin NO0003084105 Round Lot 500.00 Revenue 52 371 44 985 57 723 53 589 50 703 48 297 55 583 Round Lot 500.00 Reg.Share Capital (mill) 2,338.56 Other Income 0 0 0 0 0 0 0 Reg.Share Capital (mill) 19,172.93 Number of Shares 116,928.25 Operating Costs 50 351 42 102 50 843 53 038 55 333 45 559 52 863 Number of Shares 19,172.93 Currency NOK EBITDA 2 020 2 883 6 880 551 -4 630 2 738 2 720 Currency NOK Gics 45 Depreciation 1 485 2 029 2 267 3 149 2 287 2 523 13 246 Gics 45 Listed From 3/11/04 EBIT 535 854 4 613 -2 598 -6 917 215 -10 526 Listed From 10/24/05 Par Value 0.02 Net Financials -83 -2 030 5 992 213 799 248 2 652 Par Value 1.00 Number of days traded 251 Pre Tax Profit 452 -1 176 10 605 -2 385 -6 118 463 -7 874 Number of days traded 136 Avg. Trades pr Day 119.55 Tax 1 516 1 362 3 249 491 -1 760 1 067 -1 949 Avg. Trades pr Day 3.75 Minority Interests 0 0 0 0 0 0 0 Key Figures 2006 Net Income -1 064 -2 538 7 356 -2 876 -4 358 -604 -5 925 Key Figures 2006 (Preliminary figures) EPS -0,07 -0,16 0,38 -0,15 -0,23 -0,03 -0,31 (Preliminary figures) Price Book 0,00 0,00 2,67 2,94 2,77 2,36 2,45 Operating result per Share -0.24 Long Term Fixed Assets 121 075 130 168 137 074 137 027 136 287 140 538 127 283 Operating result per Share -1.04 BVPS 4.27 Current Assets 56 233 54 227 63 794 73 727 73 130 71 124 72 259 BVPS 8.16 Gross Margin 1.00 Cash 43 223 39 936 50 708 97 259 62 775 49 328 54 899 Gross Margin 0.95 EBITDA Margin 0.22 Total Assets 220 531 224 331 251 576 308 013 272 192 260 990 254 441 EBITDA Margin 0.01 EBITDA 46,854 Total Equity 118 865 126 100 175 953 170 063 162 733 165 111 156 475 EBITDA 1,379 EBITA -27,471 Long term debt 20 999 19 471 22 909 0 0 0 0 EBITA -11,533 Net Margin -0.09 Short term debt 80 667 78 760 52 714 116 109 87 870 74 431 76 564 Net Margin -0.07 ROE -2.69 Total Liability and Equity 220 531 224 331 251 576 308 013 272 192 260 990 254 441 ROE -5.43 Net Interestbearing Debt -22 224 -3 146 -27 799 -97 259 -62 775 -49 328 -41 066 Chg Operating Activities 24 642 -12 505 -5 422 53 901 -31 523 -8 724 -2 767 Chg Investing activities -9 609 -1 478 -12 554 -3 989 -590 -7 455 -725 Chg Financing activities 1 243 1 106 46 394 -1 758 151 535 -122 Chg Cash and Liquids 15 684 -12 964 28 090 46 551 -34 558 -13 373 -8 263

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 157 Company: PSI Group ASA Share Price 25,0 Ticker: PSI 20,0 15,0

Company Presentation: PSI is Scandinavias leading supplier of advanced infor- 10,0 mation technology solutions to the retail industry; hereby tracking, controlling, 5,0 distributing and safeguarding cash and product information. 0 Period Jan 05 Jan 06 Dec 06

2004 2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010098247 Isin NO0010112675 Revenue 144 411 138 284 115 994 155 228 114 524 90 501 75 068 127 050 Round Lot 500.00 Round Lot 100.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 8,296.90 Reg.Share Capital (mill) 494,171.88 Operating Costs 143 527 135 081 111 896 149 762 113 955 87 534 69 045 109 505 Number of Shares 13,382.09 Number of Shares 494,171.88 EBITDA 884 3 203 4 098 5 466 569 2 967 6 023 17 545 Currency NOK Currency NOK Depreciation 1 181 1 182 1 184 1 814 701 946 1 157 1 065 Gics 45 Gics 45 EBIT -297 2 021 2 914 3 652 -132 2 021 4 866 16 480 Listed From 6/11/01 Listed From 5/9/06 Net Financials -889 -148 -1 135 -520 -1 389 -766 791 2 935 Par Value 0.62 Par Value 1.00 Pre Tax Profit -1 186 1 873 1 779 653 -1 521 -1 644 5 657 19 415 Number of days traded 248 Number of days traded 164 Tax -332 524 498 183 -426 -460 1 141 481 Avg. Trades pr Day 25.67 Avg. Trades pr Day 532.90 Minority Interests 0 0 0 0 0 0 0 0 Net Income -854 1 349 1 281 470 -1 095 -1 184 4 516 18 934 Key Figures 2006 Key Figures 2006 EPS -0,05 0,07 0,07 0,02 -0,08 -0,09 0,35 1,55 (Preliminary figures) (Preliminary figures) Price Book 2,07 1,90 2,00 1,90 1,77 1,35 1,34 3,52 Long Term Fixed Assets 84 457 83 027 84 279 91 840 55 816 128 641 129 862 131 082 Operating result per Share 1.60 Operating result per Share 3.03 Current Assets 238 212 219 183 225 495 258 792 227 948 138 101 122 572 130 207 BVPS 6.70 BVPS 21.52 Cash 8 692 8 280 8 222 12 771 3 059 10 806 3 821 10 345 Gross Margin 0.45 Gross Margin 0.83 Total Assets 331 361 310 490 317 996 363 403 286 823 277 548 256 255 271 634 EBITDA Margin 0.07 EBITDA Margin 0.45 Total Equity 145 157 133 310 135 918 150 836 100 837 101 029 98 609 89 724 EBITDA 27,751 EBITDA 1,964,593 Long term debt 56 376 54 737 69 366 82 000 55 255 52 976 51 508 66 794 EBITA 23,926 EBITA 1,618,909 Short term debt 129 828 122 443 112 712 130 568 126 687 120 509 103 108 113 094 Net Margin 0.05 Net Margin 0.11 Total Liability and Equity 331 361 310 490 317 996 363 404 286 822 277 547 256 258 271 634 ROE 9.47 ROE 4.49 Net Interestbearing Debt 63 688 72 804 81 670 86 146 82 960 63 113 67 523 81 167 Chg Operating Activities -12 886 104 -6 240 7 822 -1 843 2 966 4 694 15 678 Chg Investing activities -16 307 -2 480 2 255 -13 250 -9 562 17 893 -1 803 -2 167 Chg Financing activities 8 953 4 088 3 927 9 975 5 717 -13 111 -9 875 -6 987 Chg Cash and Liquids -20 240 -413 -58 4 547 -5 688 7 748 -6 984 6 524

Company: Q-Free ASA Share Price 35,0

Ticker: QFR 25,0

15,0 Company Presentation: Q-Free is a leading supplier of electronic toll collection (ETC) systems. The Company has installed ETC systems in 18 countries around the world based on state of the art technology. Headquartered in Trondheim, 5,0 Norway, Q-Free has 200 employees in 7 countries and representatives in 8 0 Period others. Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003103103 Isin NO0003058901 Revenue 115 559 143 970 138 519 145 662 110 146 104 244 84 322 88 230 Round Lot 500.00 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 19,864.22 Reg.Share Capital (mill) 5,448.61 Operating Costs 95 447 113 950 111 906 121 815 86 008 77 828 64 441 112 277 Number of Shares 52,274.27 Number of Shares 16,025.33 EBITDA 20 112 30 020 26 613 23 847 24 138 26 416 19 881 -24 047 Currency NOK Currency NOK Depreciation 5 883 4 239 4 607 1 876 4 045 4 323 4 716 3 931 Gics 45 Gics 45 EBIT 14 229 25 781 22 006 21 971 20 093 22 093 15 165 -27 978 Listed From 4/3/02 Listed From 9/18/98 Net Financials 242 -372 2 699 10 766 11 334 -7 126 6 276 5 168 Par Value 0.38 Par Value 0.34 Pre Tax Profit 14 471 25 409 24 705 32 737 31 427 14 967 21 441 -22 810 Number of days traded 250 Number of days traded 241 Tax 2 538 2 935 1 932 2 861 9 026 4 363 7 538 -9 770 Avg. Trades pr Day 62.66 Avg. Trades pr Day 15.33 Minority Interests 326 1 535 -426 783 -39 686 683 357 Net Income 11 607 20 939 23 199 29 093 22 440 9 918 13 220 -13 397 Key Figures 2006 Key Figures 2006 EPS 0,22 0,40 0,44 0,57 0,44 0,19 0,25 -0,26 (Preliminary figures) (Preliminary figures) Price Book 4,98 6,29 6,44 4,65 3,67 3,98 3,96 5,18 Long Term Fixed Assets 57 829 62 381 74 538 85 222 95 146 90 388 98 269 119 417 Operating result per Share 0.56 Operating result per Share -1.72 Current Assets 190 739 220 936 184 035 180 773 140 159 122 932 132 993 144 543 BVPS 5.41 BVPS 7.88 Cash 143 702 144 700 192 531 166 520 159 955 183 253 158 686 162 175 Gross Margin 0.60 Gross Margin 0.93 Total Assets 392 270 428 017 451 104 432 515 395 260 396 573 389 948 426 135 EBITDA Margin 0.12 EBITDA Margin -0.04 Total Equity 210 381 229 462 261 168 245 215 263 310 294 037 307 829 282 830 EBITDA 46,388 EBITDA -15,310 Long term debt 3 854 5 535 6 812 5 374 3 580 4 832 4 632 3 392 EBITA 29,373 EBITA -27,561 Short term debt 178 035 193 020 179 133 181 853 128 191 97 525 70 772 127 239 Net Margin 0.08 Net Margin -0.44 Total Liability and Equity 392 270 428 017 451 104 432 515 395 260 396 573 389 948 426 135 ROE 7.48 ROE -48.18 Net Interestbearing Debt -139 848 -139 165 -184 625 -161 146 -156 375 -178 421 -154 054 -158 783 Chg Operating Activities 20 081 10 134 59 969 57 344 8 025 8 348 -8 983 17 197 Chg Investing activities -7 347 -8 395 -13 303 -20 824 -14 108 -5 446 -14 700 -13 547 Chg Financing activities 614 -740 1 166 -2 532 -482 20 396 -884 -162 Chg Cash and Liquids 13 348 999 47 832 33 988 -6 565 23 298 -24 567 3 488

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 158 Company: Renewable Energy Corporation ASA Share Price 140,0 Ticker: REC 100,0

60,0 Company Presentation: Renewable Energy Corporation ASA (REC) was founded in 1996. REC has a presence in all parts of the industry value chain from pro- 20,0 duction of raw material to solar energy products. The company has customers 0 Period around the world and approx. 1 400 employees in 4 countries on 3 continents. May 05 Sep 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010098247 (All figures are in NOK ‘ 000) Isin NO0010112675 Round Lot 500.00 Revenue 872 099 1 002 830 1 139 411 1 319 732 Round Lot 100.00 Reg.Share Capital (mill) 8,296.90 Other Income 0 0 0 0 Reg.Share Capital (mill) 494,171.88 Number of Shares 13,382.09 Operating Costs 492 496 616 221 616 953 643 829 Number of Shares 494,171.88 Currency NOK EBITDA 379 603 386 609 522 458 675 903 Currency NOK Gics 45 Depreciation 81 473 83 893 100 494 124 305 Gics 45 Listed From 6/11/01 EBIT 298 130 302 716 421 964 551 598 Listed From 5/9/06 Par Value 0.62 Net Financials -845 829 -33 130 89 913 -41 271 Par Value 1.00 Number of days traded 248 Pre Tax Profit -547 699 269 586 511 877 510 196 Number of days traded 164 Avg. Trades pr Day 25.67 Tax -141 701 112 709 168 887 174 117 Avg. Trades pr Day 532.90 Minority Interests 0 0 0 0 Key Figures 2006 Net Income -405 998 156 877 342 990 336 079 Key Figures 2006 (Preliminary figures) EPS 0,00 0,00 0,69 0,68 (Preliminary figures) Price Book 0,00 4,48 4,86 5,30 Operating result per Share 1.60 Long Term Fixed Assets 4 219 905 4 600 877 5 041 855 5 758 776 Operating result per Share 3.03 BVPS 6.70 Current Assets 1 492 542 1 300 264 1 624 547 1 773 618 BVPS 21.52 Gross Margin 0.45 Cash 446 764 7 385 568 7 255 087 7 275 548 Gross Margin 0.83 EBITDA Margin 0.07 Total Assets 6 159 211 13 286 709 13 921 489 14 807 942 EBITDA Margin 0.45 EBITDA 27,751 Total Equity 2 939 149 9 818 171 10 266 888 10 636 526 EBITDA 1,964,593 EBITA 23,926 Long term debt 2 274 540 2 397 220 2 402 956 2 500 427 EBITA 1,618,909 Net Margin 0.05 Short term debt 719 054 815 386 831 512 1 196 312 Net Margin 0.11 ROE 9.47 Total Liability and Equity 6 159 211 13 286 709 13 921 489 14 807 942 ROE 4.49 Net Interestbearing Debt 1 827 776 -4 988 348 -4 850 995 -4 627 081 Chg Operating Activities 141 574 284 993 293 379 658 911 Chg Investing activities -193 039 -583 569 -292 506 -564 611 Chg Financing activities -11 137 7 251 909 -143 036 -74 569 Chg Cash and Liquids -62 602 6 953 333 -142 163 20 459

Company: Software Innovation ASA Share Price 30,0

Ticker: SOI 20,0

Company Presentation: Software Innovation is one of the foremost Nordic cen- 10,0 tres within the development of innovative IT solutions. We offer IT solutions that help enterprises to improve, maintain and strengthen relationships with employ- 0 Period ees, customers, suppliers and other business partners. Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003103103 (All figures are in NOK ‘ 000) Isin NO0003058901 Round Lot 500.00 Revenue 93 486 96 334 83 848 110 028 107 872 101 988 83 929 112 377 Round Lot 500.00 Reg.Share Capital (mill) 19,864.22 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 5,448.61 Number of Shares 52,274.27 Operating Costs 92 913 95 411 81 056 102 318 103 838 110 509 92 852 114 275 Number of Shares 16,025.33 Currency NOK EBITDA 573 923 2 792 7 710 4 034 -8 521 -8 923 -1 898 Currency NOK Gics 45 Depreciation 2 790 2 833 2 580 2 592 2 980 2 918 3 181 3 172 Gics 45 Listed From 4/3/02 EBIT -2 217 -1 910 212 5 118 1 054 -11 439 -12 104 -5 070 Listed From 9/18/98 Par Value 0.38 Net Financials 51 27 -49 406 -303 -1 376 -2 049 -1 311 Par Value 0.34 Number of days traded 250 Pre Tax Profit -2 166 -1 883 163 5 524 751 -12 815 -105 053 -13 681 Number of days traded 241 Avg. Trades pr Day 62.66 Tax -607 -527 46 1 546 210 -3 588 50 379 0 Avg. Trades pr Day 15.33 Minority Interests -22 -221 9 218 63 -35 139 -666 Key Figures 2006 Net Income -1 537 -1 135 108 3 760 478 -9 192 -155 571 -13 015 Key Figures 2006 (Preliminary figures) EPS -0,10 -0,07 0,01 0,23 0,03 -0,57 -9,72 -0,81 (Preliminary figures) Price Book 1,04 1,01 1,13 1,17 1,46 1,23 1,56 1,75 Operating result per Share 0.56 Long Term Fixed Assets 239 694 238 186 237 676 236 643 237 454 235 544 160 043 158 674 Operating result per Share -1.72 BVPS 5.41 Current Assets 125 094 127 185 136 232 130 483 149 036 153 067 152 064 116 654 BVPS 7.88 Gross Margin 0.60 Cash 67 202 62 393 41 352 68 609 47 683 119 840 84 776 103 925 Gross Margin 0.93 EBITDA Margin 0.12 Total Assets 431 990 427 764 415 260 435 735 434 173 508 451 396 883 379 253 EBITDA Margin -0.04 EBITDA 46,388 Total Equity 300 723 298 718 299 227 304 850 302 513 288 917 140 513 127 066 EBITDA -15,310 EBITA 29,373 Long term debt 0 0 0 119 932 0 84 459 83 528 83 927 EBITA -27,561 Net Margin 0.08 Short term debt 118 527 116 946 104 576 0 119 924 123 340 161 107 157 390 Net Margin -0.44 ROE 7.48 Total Liability and Equity 431 990 427 764 415 260 435 735 434 173 508 451 396 883 379 253 ROE -48.18 Net Interestbearing Debt -67 202 -62 393 -41 352 51 323 -45 794 -32 375 2 252 -16 086 Chg Operating Activities -6 897 -2 669 -18 877 29 041 -14 756 -12 365 -31 061 20 789 Chg Investing activities -3 170 -1 377 -1 867 -1 605 -5 475 -1 053 -2 826 -2 451 Chg Financing activities -637 -640 -643 -179 -696 85 576 -437 811 Chg Cash and Liquids -10 704 -4 808 -21 041 27 257 -20 927 72 158 -34 324 19 149

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 159 Company: SuperOffice ASA Share Price 45,0 Ticker: SUO 35,0 35,0

Company Presentation: SUO is Europe`s leading suppl. of CRM software solu- 15,0 tions to the B2B market. The solutions are sold by SUO and a large nbr. of partners Europe, USA og Asia. The comp. has more than 11000 corp. cust. 5,0 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003054736 Isin NO0003070906 Revenue 62 830 66 098 54 403 66 051 68 886 65 035 61 563 78 894 Round Lot 200.00 Round Lot 100.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 14,688.24 Reg.Share Capital (mill) 161,059.75 Operating Costs 48 683 50 558 42 259 49 542 53 792 52 365 45 957 58 831 Number of Shares 20,983.20 Number of Shares 80,529.88 EBITDA 14 147 15 540 12 144 16 509 15 094 12 670 15 606 20 063 Currency NOK Currency NOK Depreciation 1 163 1 115 1 143 1 221 1 263 1 314 1 398 1 521 Gics 45 Gics 45 EBIT 12 984 14 425 11 001 15 288 13 832 11 356 14 208 18 542 Listed From 3/10/97 Listed From 2/13/97 Net Financials 539 3 392 995 -177 242 -295 112 -1 017 Par Value 0.70 Par Value 2.00 Pre Tax Profit 13 523 17 817 11 996 15 111 14 073 11 061 14 320 17 525 Number of days traded 231 Number of days traded 251 Tax 3 809 4 989 3 358 3 578 3 941 3 097 4 009 6 145 Avg. Trades pr Day 13.85 Avg. Trades pr Day 662.66 Minority Interests 0 0 0 0 0 0 0 0 Net Income 9 714 12 828 8 638 11 533 10 133 7 964 10 311 11 380 Key Figures 2006 Key Figures 2006 EPS 0,47 0,61 0,41 0,55 0,48 0,38 0,49 0,54 (Preliminary figures) (Preliminary figures) Price Book 5,04 8,08 8,28 6,83 7,66 8,10 5,63 6,83 Long Term Fixed Assets 51 079 46 209 52 340 50 449 50 397 50 157 49 703 55 868 Operating result per Share 2.77 Operating result per Share 4.46 Current Assets 58 829 50 958 47 321 52 076 70 618 70 408 67 612 77 434 BVPS 5.56 BVPS 37.18 Cash 151 762 76 774 59 815 47 231 140 622 88 143 75 453 53 381 Gross Margin 0.97 Gross Margin 0.58 Total Assets 261 670 173 941 159 476 149 755 261 636 208 708 192 768 186 683 EBITDA Margin 0.23 EBITDA Margin 0.21 Total Equity 128 172 75 806 84 928 97 035 106 845 94 549 104 053 116 754 EBITDA 63,433 EBITDA 474,938 Long term debt 4 410 3 562 3 562 2 646 2 646 2 646 2 646 1 593 EBITA 57,938 EBITA 428,727 Short term debt 127 642 93 221 62 495 47 123 145 356 105 965 76 899 65 529 Net Margin 0.15 Net Margin 0.16 Total Liability and Equity 261 669 173 941 159 476 149 755 261 636 208 708 192 770 186 683 ROE 21.64 ROE 7.94 Net Interestbearing Debt -147 352 -73 212 -56 253 -44 584 -137 975 -85 497 -72 807 -51 788 Chg Operating Activities 79 616 -8 759 -13 537 -14 277 95 237 -14 568 -10 305 -16 971 Chg Investing activities -20 522 -816 -3 417 2 074 -1 671 -17 040 -961 -1 605 Chg Financing activities 3 975 -58 150 0 -1 300 0 -20 983 -2 416 -1 222 Chg Cash and Liquids 63 772 -67 725 -16 959 -12 584 93 391 -52 479 -12 691 -19 565

Company: Tandberg Data ASA Share Price 14,0 12,0 Ticker: TAD 10,0 8,0 6,0 Company Presentation: Tandberg Data is a global supplier of storage solutions 4,0 for back-up and archiving of data based on tape and disk. The storage products 2,0 are available through a global network of resellers and OEMs. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0005621102 Isin NO0003083008 Revenue 148 556 153 438 154 173 191 875 203 810 190 718 184 483 297 236 Round Lot 1,000.00 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 9 781 Reg.Share Capital (mill) 103,231.11 Reg.Share Capital (mill) 4,850.12 Operating Costs 153 419 161 725 163 614 199 713 198 885 228 278 193 099 274 488 Number of Shares 46,923.23 Number of Shares 36,357.71 EBITDA -4 863 -8 287 -9 441 -7 838 4 925 -37 559 -8 616 32 530 Currency NOK Currency NOK Depreciation 2 928 4 271 5 428 7 572 4 765 4 760 13 936 16 891 Gics 45 Gics 45 EBIT -7 792 -12 558 -14 869 -15 410 160 -42 320 -22 551 15 639 Listed From 5/23/85 Listed From 6/29/00 Net Financials 792 -1 061 782 -849 -3 677 -13 639 -2 828 -6 442 Par Value 2.20 Par Value 0.13 Pre Tax Profit -7 000 -13 620 -14 087 -16 259 -3 517 -55 959 -25 379 9 197 Number of days traded 250 Number of days traded 228 Tax 151 953 349 1 518 1 041 1 439 -278 -4 406 Avg. Trades pr Day 60.40 Avg. Trades pr Day 15.20 Minority Interests 0 0 0 0 0 0 0 0 Net Income -7 151 -14 573 -14 436 -17 777 -4 558 -57 398 -25 100 13 603 Key Figures 2006 Key Figures 2006 EPS -0,19 -0,34 -0,34 -0,38 -0,10 -1,23 -0,54 0,29 (Preliminary figures) (Preliminary figures) Price Book 2,15 1,65 2,29 2,03 1,97 2,27 2,13 2,37 Long Term Fixed Assets 78 654 113 581 118 149 157 142 157 901 153 663 133 906 329 125 Operating result per Share -1.08 Operating result per Share 0.81 Current Assets 203 054 212 794 312 471 272 440 243 381 232 486 249 338 398 944 BVPS 2.93 BVPS 7.84 Cash 79 724 72 865 0 60 627 29 964 128 331 113 403 46 231 Gross Margin 0.25 Gross Margin 0.74 Total Assets 361 432 399 240 430 620 490 210 431 246 514 480 496 647 774 300 EBITDA Margin -0.01 EBITDA Margin 0.16 Total Equity 214 371 205 783 241 943 231 571 219 862 159 044 139 012 137 443 EBITDA -10,185 EBITDA 76,400 Long term debt 0 0 0 21 504 20 913 159 094 153 218 294 640 EBITA -50,690 EBITA 28,900 Short term debt 144 041 176 195 171 271 224 714 178 781 185 518 200 514 331 376 Net Margin -0.09 Net Margin 0.09 Total Liability and Equity 361 432 399 240 430 620 490 210 431 246 514 480 496 647 774 300 ROE -23.75 ROE 9.56 Net Interestbearing Debt -58 468 -41 286 29 854 -39 123 -9 051 49 552 39 815 274 762 Chg Operating Activities -8 439 1 829 -16 595 -31 941 -17 644 -2 031 -5 579 -15 696 Chg Investing activities -9 538 -42 599 -9 654 -39 228 -9 756 -7 857 -4 852 -197 830 Chg Financing activities 52 851 31 409 -1 680 85 411 -2 196 109 805 -9 330 149 026 Chg Cash and Liquids 34 874 -9 361 -27 929 14 243 -29 596 99 917 -19 762 -64 500

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 160 Company: Tandberg Television ASA Share Price 160 Ticker: TAT 120 80 Company Presentation: Tandberg Television ASA is a leading global supplier of 40 Professional Video Compression Systems. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0003054736 (All figures are in NOK ‘ 000) Isin NO0003070906 Round Lot 200.00 Revenue 410 400 457 000 476 100 525 200 561 894 623 703 510 486 547 833 Round Lot 100.00 Reg.Share Capital (mill) 14,688.24 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 161,059.75 Number of Shares 20,983.20 Operating Costs 333 200 365 400 364 500 399 700 430 429 480 394 422 558 436 725 Number of Shares 80,529.88 Currency NOK EBITDA 77 200 91 600 111 600 125 500 131 464 143 308 87 928 111 108 Currency NOK Gics 45 Depreciation 13 800 16 700 16 900 17 300 20 020 25 546 29 731 39 177 Gics 45 Listed From 3/10/97 EBIT 63 400 74 900 94 700 108 200 111 444 117 762 58 197 71 931 Listed From 2/13/97 Par Value 0.70 Net Financials 16 500 0 8 000 8 200 -4 004 11 215 45 545 3 853 Par Value 2.00 Number of days traded 231 Pre Tax Profit 79 900 74 900 102 700 116 400 107 440 128 977 103 742 93 125 Number of days traded 251 Avg. Trades pr Day 13.85 Tax 25 300 17 500 24 000 9 600 21 355 26 792 13 284 15 414 Avg. Trades pr Day 662.66 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 54 600 57 400 78 700 106 800 86 086 102 185 90 458 77 711 Key Figures 2006 (Preliminary figures) EPS 0,84 0,85 1,13 1,45 1,11 1,27 1,13 0,97 (Preliminary figures) Price Book 3,94 3,83 3,04 2,97 3,81 2,94 1,40 2,10 Operating result per Share 2.77 Long Term Fixed Assets 903 700 917 600 898 000 1 476 100 1 983 966 1 877 090 1 928 644 1 850 884 Operating result per Share 4.46 BVPS 5.56 Current Assets 533 400 599 300 701 100 710 800 807 015 886 421 883 338 923 878 BVPS 37.18 Gross Margin 0.97 Cash 268 100 323 700 914 200 508 000 588 476 596 773 809 185 783 139 Gross Margin 0.58 EBITDA Margin 0.23 Total Assets 1 705 200 1 840 600 2 513 300 2 694 900 3 379 456 3 360 908 3 621 166 3 557 901 EBITDA Margin 0.21 EBITDA 63,433 Total Equity 1 367 700 1 438 900 2 084 900 2 229 300 2 862 071 2 825 934 3 058 510 2 994 316 EBITDA 474,938 EBITA 57,938 Long term debt 0 0 0 0 0 0 0 0 EBITA 428,727 Net Margin 0.15 Short term debt 221 600 294 100 326 100 377 100 404 166 436 344 455 329 418 466 Net Margin 0.16 ROE 21.64 Total Liability and Equity 1 705 200 1 840 600 2 513 300 2 694 900 3 379 456 3 360 908 3 621 166 3 557 901 ROE 7.94 Net Interestbearing Debt -268 100 -323 700 -914 200 -508 000 -588 476 -596 773 -809 185 -783 139 Chg Operating Activities 42 200 77 200 28 100 133 700 47 381 51 093 137 268 31 470 Chg Investing activities -408 200 -22 900 -16 600 -492 200 -538 537 -21 185 37 322 -36 608 Chg Financing activities 58 000 800 579 700 -49 800 581 246 8 723 6 958 8 991 Chg Cash and Liquids -305 000 55 100 590 500 -408 300 90 090 39 254 181 548 2 569

Company: TeleComputing ASA Share Price 30,0 25,0 Ticker: TCO 20,0 15,0 Company Presentation: TeleComputing is a leading Nordic provider of IT 10,0 solutions to the SMB market. TeleComputing specializes within IT operations, 5,0 outsourcing, IT on demand and related services. Its Kentor subsidiary offers 0 Period qualified enterprise solutions, applications management and IT consulting. Jan 05 Jan 06 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0005621102 (All figures are in NOK ‘ 000) Isin NO0003083008 Round Lot 1,000.00 Revenue 79 100 94 100 99 000 124 000 124 800 121 700 114 500 130 200 Round Lot 500.00 Reg.Share Capital (mill) 103,231.11 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 4,850.12 Number of Shares 46,923.23 Operating Costs 66 700 83 600 83 800 105 900 107 100 102 300 91 900 108 800 Number of Shares 36,357.71 Currency NOK EBITDA 12 400 10 500 15 200 18 100 17 700 19 400 22 600 21 400 Currency NOK Gics 45 Depreciation 7 800 10 000 11 700 12 200 12 700 12 100 12 000 11 900 Gics 45 Listed From 5/23/85 EBIT 4 600 500 3 500 5 900 5 000 7 300 10 600 9 500 Listed From 6/29/00 Par Value 2.20 Net Financials 0 -200 0 0 0 300 -200 600 Par Value 0.13 Number of days traded 250 Pre Tax Profit 4 600 300 3 500 5 900 5 000 6 300 10 400 23 100 Number of days traded 228 Avg. Trades pr Day 60.40 Tax 1 300 0 1 100 2 900 0 0 0 2 800 Avg. Trades pr Day 15.20 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 3 300 300 2 400 3 000 5 000 6 300 10 400 20 300 Key Figures 2006 (Preliminary figures) EPS 0,10 0,01 0,07 0,08 0,14 0,18 0,29 0,00 (Preliminary figures) Price Book 1,68 1,71 2,41 2,20 2,66 2,95 2,77 3,19 Operating result per Share -1.08 Long Term Fixed Assets 159 600 200 700 210 200 210 500 212 500 208 000 185 500 191 800 Operating result per Share 0.81 BVPS 2.93 Current Assets 35 900 54 000 64 500 63 000 57 200 63 400 94 500 66 500 BVPS 7.84 Gross Margin 0.25 Cash 72 000 57 900 62 900 72 200 73 000 79 800 84 500 135 000 Gross Margin 0.74 EBITDA Margin -0.01 Total Assets 267 500 312 600 337 600 345 700 342 700 351 200 364 500 393 300 EBITDA Margin 0.16 EBITDA -10,185 Total Equity 199 200 215 400 219 400 224 500 230 700 242 700 255 700 285 000 EBITDA 76,400 EBITA -50,690 Long term debt 0 6 500 15 500 12 300 3 800 10 900 3 200 300 EBITA 28,900 Net Margin -0.09 Short term debt 64 500 85 500 102 700 108 400 100 000 97 100 93 000 98 300 Net Margin 0.09 ROE -23.75 Total Liability and Equity 267 500 312 600 337 600 345 700 342 700 351 200 364 500 393 300 ROE 9.56 Net Interestbearing Debt -72 000 -46 900 -47 400 -55 000 -64 800 -65 200 -78 400 -134 700 Chg Operating Activities 11 100 14 100 16 700 24 200 15 200 10 600 19 300 28 000 Chg Investing activities -11 800 -24 200 -11 900 -14 300 -14 900 -6 300 -7 800 12 000 Chg Financing activities -200 -3 100 400 -700 600 2 600 -1 600 5 400 Chg Cash and Liquids -1 200 -14 000 4 900 9 400 800 6 900 10 000 46 800

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 161 Company: Trolltech ASA Share Price 20,0 Ticker: TROLL 15,0 10,0 Company Presentation: Trolltech is a growing company that provides software development infrastructure, tools and platforms for cross-platform applications 5,0 and embedded Linux mobile phones and computing devices. 0 Period July 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010317647 Isin NO0005620856 Revenue 37 158 40 591 39 798 53 068 Round Lot 500.00 Round Lot 100.00 Other Income 0 1 159 323 533 Reg.Share Capital (mill) 2,094.54 Reg.Share Capital (mill) 120,896.35 Operating Costs 39 869 51 801 49 392 67 061 Number of Shares 52,363.48 Number of Shares 120,896.35 EBITDA -2 711 -10 051 -9 271 -13 460 Currency NOK Currency NOK Depreciation 3 702 3 684 4 083 4 527 Gics 45 Gics 45 EBIT -6 413 -13 735 -13 354 -17 987 Listed From 7/5/06 Listed From 12/30/82 Net Financials 34 -656 1 361 1 415 Par Value 0.04 Par Value 1.00 Pre Tax Profit -6 379 -14 391 -11 993 -16 572 Number of days traded 110 Number of days traded 251 Tax 1 080 714 784 -1 898 Avg. Trades pr Day 10.31 Avg. Trades pr Day 525.74 Minority Interests 0 0 0 0 Net Income -7 459 -15 105 -12 777 -14 674 Key Figures 2006 Key Figures 2006 EPS 0,00 0,00 -0,25 -0,28 (Preliminary figures) (Preliminary figures) Price Book 0,00 0,00 6,02 5,70 Long Term Fixed Assets 38 899 41 023 47 993 54 364 Operating result per Share -1.02 Operating result per Share 4.50 Current Assets 49 277 39 927 41 525 41 793 BVPS 2.90 BVPS 11.74 Cash 35 110 49 221 155 841 149 658 Gross Margin 0.94 Gross Margin 0.67 Total Assets 123 286 130 171 245 359 245 815 EBITDA Margin -0.19 EBITDA Margin 0.23 Total Equity 49 981 22 876 152 977 151 671 EBITDA -32,725 EBITDA 625,762 Long term debt 0 0 0 0 EBITA -48,721 EBITA 524,999 Short term debt 63 444 92 656 79 014 88 155 Net Margin -0.27 Net Margin 0.15 Total Liability and Equity 123 286 130 171 245 359 245 815 ROE -25.94 ROE 13.33 Net Interestbearing Debt -35 110 -49 221 -155 841 -149 658 Chg Operating Activities 83 13 362 -8 254 -3 990 Chg Investing activities -7 295 7 788 -2 916 -13 186 Chg Financing activities 99 -13 559 125 116 125 294 Chg Cash and Liquids -7 113 7 591 113 223 108 118

Company: Tandberg Storage ASA Share Price 6,0 5,0 Ticker: TST 4,0 3,0 Company Presentation: Tandberg Storage (TST) focuses its core competence on 2,0 basic tape drive design, manufacturing and OEM sales for the low and midrange 1,0 markets. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010190341 Isin IL0010838154 Revenue 3 513 13 329 22 968 44 944 46 857 54 982 51 709 50 765 Round Lot 2,000.00 Round Lot 100.00 Other Income 0 0 0 223 299 360 477 20 Reg.Share Capital (mill) 53,503.39 Reg.Share Capital (mill) 110.33 Operating Costs 4 439 14 411 20 559 43 929 44 120 50 845 46 729 45 969 Number of Shares 63,694.51 Number of Shares 11,033.50 EBITDA -926 -1 082 2 409 1 238 3 036 4 497 5 457 4 816 Currency NOK Currency ILS Depreciation 1 001 983 1 981 4 089 3 986 3 979 3 975 4 042 Gics 45 Gics 45 EBIT -1 927 -2 065 428 -2 851 -950 518 1 482 774 Listed From 10/2/03 Listed From 5/12/05 Net Financials -335 -349 -248 -57 -644 -1 229 176 -730 Par Value 0.84 Par Value 0.01 Pre Tax Profit -2 262 -2 414 180 -2 908 -1 594 -711 1 658 44 Number of days traded 248 Number of days traded 210 Tax 0 -70 0 0 0 0 0 0 Avg. Trades pr Day 30.93 Avg. Trades pr Day 8.56 Minority Interests 20 0 -62 104 -24 0 94 0 Net Income -2 282 -2 344 242 -3 012 -1 570 -711 1 564 44 Key Figures 2006 Key Figures 2006 EPS -0,04 -0,04 0,00 -0,05 -0,02 -0,01 0,02 0,00 (Preliminary figures) (Preliminary figures) Price Book 3,60 2,56 6,70 6,58 6,23 5,25 4,97 4,36 Long Term Fixed Assets 57 079 64 004 68 890 68 701 75 071 80 903 90 346 101 665 Operating result per Share 0.03 Operating result per Share 3.87 Current Assets 4 179 12 351 15 355 38 390 53 823 50 517 66 828 57 477 BVPS 0.97 BVPS 43.62 Cash 18 059 18 358 12 528 8 864 43 949 41 560 26 936 22 517 Gross Margin 0.23 Gross Margin 0.68 Total Assets 79 317 94 713 96 773 115 955 172 843 172 980 184 110 181 659 EBITDA Margin 0.09 EBITDA Margin 0.19 Total Equity 44 873 55 626 56 128 53 217 51 624 50 914 52 570 61 727 EBITDA 17,804 EBITDA 75,554 Long term debt 11 642 11 642 8 900 9 112 9 112 9 112 9 112 39 963 EBITA 1,824 EBITA 75,554 Short term debt 18 419 25 042 29 342 52 797 111 279 112 125 121 599 79 100 Net Margin 0.00 Net Margin 0.18 Total Liability and Equity 79 317 94 713 96 773 115 955 172 844 172 980 184 110 181 659 ROE -0.61 ROE 12.19 Net Interestbearing Debt -6 417 -6 716 -3 628 248 -34 837 -32 448 -17 824 17 446 Chg Operating Activities -5 209 -4 858 -7 614 -6 586 10 818 17 943 17 126 26 154 Chg Investing activities -10 268 -7 909 -24 038 -28 942 -10 356 -20 166 -33 582 -48 943 Chg Financing activities 1 071 13 067 11 717 11 929 35 000 35 000 35 000 36 293 Chg Cash and Liquids -14 406 300 -19 935 -23 599 35 462 32 777 18 544 13 504

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 162 Company: Tandberg Share Price 100,0 Ticker: TAA 80,0 60,0

Company Presentation: TANDBERG is a leading global provider of visual com- 40,0 munication products and services. The Company designs, develops and markets 20,0 systems and software for video, voice and data communication, and provides 0 Period sales, support and value-added services. Please see www.tandberg.com for Jan 05 Jan 06 Dec 06 more information.

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010317647 (All figures are in NOK ‘ 000) Isin NO0005620856 Round Lot 500.00 Revenue 518 393 565 896 589 346 549 693 551 884 601 272 693 299 840 054 Round Lot 100.00 Reg.Share Capital (mill) 2,094.54 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 120,896.35 Number of Shares 52,363.48 Operating Costs 371 986 399 005 421 330 412 436 412 411 449 863 509 853 606 277 Number of Shares 120,896.35 Currency NOK EBITDA 146 407 166 891 168 015 137 258 139 472 151 408 183 446 233 776 Currency NOK Gics 45 Depreciation 16 966 19 183 15 509 16 577 21 355 22 431 25 935 31 470 Gics 45 Listed From 7/5/06 EBIT 129 441 147 708 152 506 120 681 118 118 128 977 157 511 202 306 Listed From 12/30/82 Par Value 0.04 Net Financials 12 567 639 10 986 9 946 9 343 3 738 8 856 6 422 Par Value 1.00 Number of days traded 110 Pre Tax Profit 142 008 148 348 163 492 130 627 127 460 132 716 166 367 208 729 Number of days traded 251 Avg. Trades pr Day 10.31 Tax 39 586 41 563 45 881 36 469 36 036 37 385 46 810 58 444 Avg. Trades pr Day 525.74 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 102 422 106 785 117 611 94 157 91 425 95 331 119 556 150 285 Key Figures 2006 (Preliminary figures) EPS 0,79 0,84 0,93 0,76 0,75 0,79 1,04 1,37 (Preliminary figures) Price Book 4,80 4,84 5,85 2,85 4,24 3,61 5,69 7,66 Operating result per Share -1.02 Long Term Fixed Assets 404 474 416 332 433 034 511 714 541 740 515 622 535 337 624 259 Operating result per Share 4.50 BVPS 2.90 Current Assets 726 028 749 528 732 626 736 435 721 442 755 330 774 710 800 653 BVPS 11.74 Gross Margin 0.94 Cash 1 250 136 1 305 292 1 471 138 1 372 692 1 300 044 1 119 262 950 337 935 763 Gross Margin 0.67 EBITDA Margin -0.19 Total Assets 2 380 638 2 471 153 2 636 798 2 620 841 2 563 226 2 390 215 2 260 383 2 360 675 EBITDA Margin 0.23 EBITDA -32,725 Total Equity 1 852 099 1 940 919 2 008 179 1 948 032 1 876 013 1 723 527 1 481 120 1 484 335 EBITDA 625,762 EBITA -48,721 Long term debt 0 0 0 4 061 0 0 0 5 004 EBITA 524,999 Net Margin -0.27 Short term debt 514 613 511 905 612 266 668 071 687 213 661 694 773 409 871 335 Net Margin 0.15 ROE -25.94 Total Liability and Equity 2 380 638 2 471 153 2 636 798 2 620 164 2 563 226 2 390 215 2 261 034 2 360 675 ROE 13.33 Net Interestbearing Debt -1 250 136 -1 305 292 -1 471 138 -1 368 631 -1 300 044 -1 119 262 -950 337 -930 759 Chg Operating Activities 66 606 105 506 248 792 157 150 96 096 153 278 245 438 292 863 Chg Investing activities -14 452 -24 298 -31 664 -77 580 -40 040 -41 123 -39 219 -98 263 Chg Financing activities -341 197 -70 977 -52 989 -229 426 -90 757 -224 932 -411 805 -175 332 Chg Cash and Liquids -289 044 10 231 164 138 -149 856 -34 701 -113 400 -206 219 19 267

Company: Vizrt Ltd. Share Price 100,0 Ticker: VIZ 80,0 60,0

Company Presentation: Vizrt offers a new vision for content creation and visua- 40,0 lization with an end-to-end solution. Vizrt combines real-time 2D/3D graphics 20,0 software, Maps and Media Asset Management. Non proprietary hardware ensu- 0 Period res a seamless workflow from conception to distribution to HD/SD TV,Web,Pods Jan 05 Feb 06 Dec 06 and cell phones.

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010190341 (All figures are in NOK ‘ 000) Isin IL0010838154 Round Lot 2,000.00 Revenue 45 776 57 619 70 024 77 388 80 113 95 911 107 550 121 801 Round Lot 100.00 Reg.Share Capital (mill) 53,503.39 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 110.33 Number of Shares 63,694.51 Operating Costs 40 579 47 836 58 960 64 670 65 619 81 611 87 947 94 789 Number of Shares 11,033.50 Currency NOK EBITDA 5 197 9 783 11 063 12 718 14 494 14 300 19 603 27 013 Currency ILS Gics 45 Depreciation 182 0 0 0 0 0 0 0 Gics 45 Listed From 10/2/03 EBIT 5 014 9 783 11 063 12 718 14 494 14 300 19 603 27 013 Listed From 5/12/05 Par Value 0.84 Net Financials 107 -1 260 258 1 048 1 061 1 352 1 847 3 494 Par Value 0.01 Number of days traded 248 Pre Tax Profit 5 121 8 524 11 322 13 766 15 556 18 780 20 818 30 507 Number of days traded 210 Avg. Trades pr Day 30.93 Tax 101 -83 -375 -40 494 -156 -1 392 6 230 Avg. Trades pr Day 8.56 Minority Interests 0 0 0 0 0 0 0 0 Key Figures 2006 Net Income 5 021 8 607 11 696 13 805 15 062 18 935 22 210 24 277 Key Figures 2006 (Preliminary figures) EPS 0,35 0,57 0,75 0,86 0,91 0,96 1,11 1,20 (Preliminary figures) Price Book 0,00 3,93 4,04 4,16 6,29 3,44 3,55 3,76 Operating result per Share 0.03 Long Term Fixed Assets 11 400 50 654 65 106 83 837 84 006 255 327 263 297 270 865 Operating result per Share 3.87 BVPS 0.97 Current Assets 73 153 83 620 106 113 117 444 141 247 185 256 238 735 246 057 BVPS 43.62 Gross Margin 0.23 Cash 88 035 96 260 94 522 90 795 95 058 84 578 74 674 102 321 Gross Margin 0.68 EBITDA Margin 0.09 Total Assets 172 588 230 534 265 740 292 076 320 311 525 161 576 707 619 242 EBITDA Margin 0.19 EBITDA 17,804 Total Equity 123 558 166 716 196 527 227 604 243 342 412 404 453 000 481 267 EBITDA 75,554 EBITA 1,824 Long term debt 0 0 0 6 687 0 0 0 0 EBITA 75,554 Net Margin 0.00 Short term debt 43 606 53 239 58 558 53 473 66 299 81 850 92 412 101 426 Net Margin 0.18 ROE -0.61 Total Liability and Equity 172 588 230 534 265 740 292 076 320 311 525 161 576 707 619 242 ROE 12.19 Net Interestbearing Debt -88 035 -96 260 -94 522 -84 108 -95 058 -84 578 -74 674 -102 321 Chg Operating Activities 9 557 11 497 29 357 42 848 27 180 39 553 65 686 111 474 Chg Investing activities -1 131 -34 580 -36 311 -44 837 -2 135 -12 -2 087 -5 472 Chg Financing activities 1 810 32 841 36 000 38 101 2 516 3 265 4 611 6 365 Chg Cash and Liquids 9 733 8 620 27 574 34 613 27 788 43 771 68 919 114 216

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 163 Company: VMetro ASA Share Price 40,0 Ticker: VME 30,0 20,0 Company Presentation: VMETRO provides modules for highly specialized and advanced computers that are used in defense and aerospace industries, medical 10,0 and seismic equipment, as well as data communication and research. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003074601 Revenue 60 600 73 400 76 300 109 900 83 800 66 900 70 800 129 600 Round Lot 500.00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 11,491.04 Operating Costs 55 800 62 100 69 000 79 800 77 800 64 100 64 000 106 100 Number of Shares 22,982.08 EBITDA 4 800 11 300 7 300 30 100 6 000 2 800 6 800 23 500 Currency NOK Depreciation 1 300 2 300 1 300 2 000 2 000 2 500 2 400 3 000 Gics 45 EBIT 3 500 9 000 6 000 28 100 4 000 300 4 400 20 500 Listed From 10/31/97 Net Financials -300 2 300 1 900 300 2 900 1 200 -3 700 -2 600 Par Value 0.50 Pre Tax Profit 3 200 11 300 7 900 28 400 6 900 1 500 700 17 900 Number of days traded 206 Tax 1 000 3 300 2 400 9 300 2 100 500 200 5 400 Avg. Trades pr Day 6.67 Minority Interests 0 0 200 300 0 -100 0 200 Net Income 2 200 8 000 5 300 18 800 4 800 1 100 500 12 300 Key Figures 2006 EPS 0,10 0,36 0,23 0,82 0,21 0,05 0,02 0,54 (Preliminary figures) Price Book 3,06 2,86 2,84 2,31 2,98 2,91 2,32 2,18 Long Term Fixed Assets 160 200 159 000 159 200 161 600 161 200 164 000 177 300 183 400 Operating result per Share 1.28 Current Assets 91 100 86 100 91 700 116 500 98 900 98 400 107 500 132 500 BVPS 11.67 Cash 131 600 119 700 125 500 128 100 138 500 311 500 305 500 254 500 Gross Margin 0.51 Total Assets 382 900 364 800 376 400 406 200 398 600 573 900 590 300 570 400 EBITDA Margin 0.11 Total Equity 240 500 229 200 243 300 262 100 262 700 245 200 257 300 269 200 EBITDA 39,200 Long term debt 0 86 900 74 100 73 400 0 198 300 272 900 198 600 EBITA 29,300 Short term debt 53 900 48 700 59 000 70 700 65 700 60 100 60 100 74 500 Net Margin 0.05 Total Liability and Equity 382 900 364 800 376 400 406 200 398 600 573 900 590 300 570 300 ROE 4.14 Net Interestbearing Debt -131 600 -32 800 -51 400 -54 700 -138 500 -113 200 -32 600 -55 900 Chg Operating Activities -3 800 7 700 9 900 3 000 16 700 -3 000 300 -1 500 Chg Investing activities -600 -2 200 -3 800 -3 900 -4 100 -4 500 -8 100 -50 800 Chg Financing activities 0 -17 000 -100 -600 100 180 700 100 1 300 Chg Cash and Liquids -3 800 -11 900 5 800 -1 500 12 700 173 000 -6 000 -51 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 164 Telecommunication Services A «star» in a sector characterized by many challenges

The ”star” company Telenor continues to shine brigther than its peers.

Ole Petter Kjerkreit | Research analyst SEB Enskilda

The European telecom operator sector ended 2006 strongly following a lackluster first half, which was characterized by profit warnings and cut in earnings estimates. The sector finished the year up some 17% (DJ Stoxx Telecom), broadly in line with the overall European stock market. Telenor once again outperformed the European telco sector considerably, and the share ended up 77% over the year, after a particularly strong finish. The company has outperformed the European sector every year since its listing in late 2000. So, what are the factors causing this exceptional share price performance? Before answering this question we would like to go through some of the challenges the telco sector is facing, and we will thereafter illustrate why Telenor differentiates itself from its sector peers:

• Structural challenges for fixed line operations: Traditional fixed voice (PSTN) telephony is in decline, both to a shift towards mobile traffic (fixed-mobile migration), and the technological shift towards increasing usage of IP based communication puts pressure on prices, as IP telephony is often offered with free per minute calling fees. Although the operators respond by cutting costs, and growth for broadband operation compensates to some extent, earnings from fixed line operations are under pressure. In a longer term perspective IP communications is likely to also affect the mobile communications arena. • Tough competition in mature European mobile markets: Most European mobile markets have +/- 100% mobile penetrations (measured by no. of SIM cards as share of the total population). As few new mobile subscribers are entering the market the mobile operators compete aggressively for each others customers putting pressure on prices and consequently margins for the operators. • Regulatory changes: Cuts to so call termination fees and roaming fees required by regu- lators in an aim to reduce end user prices, and also introduction of so called “virtual mobile network operators” – are also hampering profits for the operators.

Although the trends mentioned above implies limited revenue growth and put pressure on profits for telecom operators in recent years, and is likely to continue to do so, the sector “rebound” seen in H2 2006 came mainly as a result of expectations in the stock market

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 166 having reached low levels, as well as valuations as measured by earnings multiples. Some signs of “stability” in operational performance caused investors to gain improved confidence in outlook from low levels.

Telenor has to some extent been “sheltered” by many of the trends putting pressure on profits for operators exposed to “difficult” European telecom markets:

• It has an extensive exposure towards emerging market mobile operations: many of the countries in which the company is represented are characterized by rapid subscriber and revenue growth, mainly in Eastern Europe and South-East Asia. The company has successfully positioned itself and developed mobile operations in those areas, and has created huge values in countries such as for instance Ukraine, Russia and Bangladesh. • Excellent operational execution: Telenor has gained a lot of expertise and experience in developing mobile operations in emerging markets, and has displayed an impressive ability to “outperform” its competitors in many of the market the company is represented in. Furthermore, it has also shown abilities to defend or even grow profits in several mature telecom markets in an impressive way. Since it listing the company has only a few times missed quarterly earnings expectations (albeit Q4 2006 represented such a shortfall). On the contrary, “outperformance” has more often been the norm. Operational excellence is a key factor explaining Telenor’s superior earnings growth profile. • Limited exposure towards fixed telephony: Traditional fixed line telephony only represents some 11% of Telenor’s total assets values, a much smaller percentage than for the majority of its European telecom incumbent peers. As such the company is less exposed to the lackluster operational trends such operations in general are exposed to. • Nordic mobile markets benefiting from consolidations: In both the Norwegian and the Danish mobile markets so called mobile service providers or virtual mobile network providers were early introduced. Several among the most successful of those have later been bought by the mobile network operators after having created “turmoil” in the market, and the market climate has improved, improving profitability for the operators.

While Telenor’s successful history has to some extent been reflected in the share price leading to a superior performance of the share, and the company now trades at earnings multiples slightly above those of the telecom sector in general, we regard this to be well deserved. The company has a superior track of executing operationally. Furthermore, its exposure towards mobile growth markets is expected to give the company a growth profile the years to come better than those of its European peers. Telenor has proven to be a “star in a sector characterized by many challenges”.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 167 Company: Telenor ASA Share Price 120 Ticker: TEL 80

Company Presentation: Telenor is a leading international provider of 40 communications services and one of the largest mobile operators worldwide. For more information: www.telenor.com 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010063308 Revenue 15 270 000 16 542 000 17 641 000 19 474 000 21 872 000 22 580 000 23 868 000 24 535 000 Round Lot 100,00 Other Income 0 252 000 0 255 000 175 000 0 0 0 Reg.Share Capital (mill) 10 081 647,42 Operating Costs 10 185 000 11 164 000 11 263 000 13 007 000 14 158 000 14 650 000 14 795 000 16 341 000 Number of Shares 1 680 274,57 EBITDA 5 085 000 5 630 000 6 378 000 6 722 000 7 889 000 7 930 000 9 073 000 8 194 000 Currency NOK Depreciation 2 681 000 2 771 000 2 906 000 3 773 000 3 524 000 3 631 000 3 778 000 4 214 000 Gics 50 EBIT 2 404 000 2 859 000 3 472 000 2 949 000 4 365 000 4 299 000 5 295 000 3 980 000 Listed From 04-12-00 Net Financials 390 000 466 000 313 000 -283 000 1 518 000 -362 000 755 000 1 922 000 Par Value 6,00 Pre Tax Profit 2 815 000 3 325 000 3 785 000 2 662 000 5 861 000 3 937 000 6 050 000 5 940 000 Number of days traded 251 Tax 845 000 997 000 1 136 000 1 161 000 1 588 000 1 063 000 1 633 000 -1 016 000 Avg. Trades pr Day 1 010,97 Minority Interests 260 000 287 000 449 000 0 0 590 000 636 000 772 000 Net Income 1 710 000 2 041 000 2 200 000 1 501 000 4 273 000 2 284 000 3 781 000 6 184 000 Key Figures 2006 EPS 0,99 1,18 1,29 0,89 2,52 1,35 2,24 3,70 (Preliminary figures) Price Book 2,42 2,29 2,36 2,47 2,53 2,90 2,81 3,87 Long Term Fixed Assets 75 513 000 75 789 000 83 429 000 97 817 000 107 547 000 106 332 000 124 925 000 124 925 000 Operating result per Share 10,55 Current Assets 13 128 000 13 752 000 15 351 000 19 341 000 17 651 000 18 582 000 19 997 000 20 453 000 BVPS 34,50 Cash 8 187 000 10 900 000 6 444 000 7 191 000 9 691 000 7 983 000 17 255 000 16 799 000 Gross Margin 0,63 Total Assets 96 828 000 100 441 000 105 224 000 124 349 000 134 889 000 132 897 000 162 177 000 162 177 000 EBITDA Margin 0,36 Total Equity 45 501 000 44 510 000 47 483 000 52 847 000 55 245 000 51 816 000 59 022 000 59 022 000 EBITDA 32 687 000 Long term debt 21 492 000 22 359 000 22 406 000 28 559 000 25 987 000 26 654 000 52 201 000 52 201 000 EBITA 17 708 000 Short term debt 23 808 000 27 800 000 29 181 000 36 830 000 46 452 000 47 092 000 42 815 000 42 815 000 Net Margin 0,17 Total Liability and Equity 96 828 000 100 441 000 105 224 000 124 348 000 134 889 000 132 897 000 162 177 000 162 177 000 ROE 18,95 Net Interestbearing Debt 16 986 000 18 728 000 22 554 000 21 368 000 36 320 000 38 740 000 48 364 000 48 820 000 Chg Operating Activities 5 207 000 4 518 000 6 456 000 6 159 000 6 772 000 6 315 000 8 477 000 9 077 000 Chg Investing activities -1 447 000 -2 381 000 -8 742 000 -7 428 000 -10 041 000 -5 767 000 -16 706 000 -3 981 000 Chg Financing activities -1 018 000 451 000 -2 247 000 1 928 000 6 246 000 -2 476 000 17 162 000 -13 562 000 Chg Cash and Liquids 2 789 000 2 671 000 -4 508 000 659 000 2 877 000 -2 149 000 9 265 000 -8 656 000

Company: Telio Holding ASA Share Price 30,0

Ticker: TELIO 20,0

Company Presentation: Telio Holding ASA is Norway’s first and largest 10,0 supplier of broadband telephony. The company has activities in Norway, Denmark, and Netherlands. Telio’s prime focus is to replace traditional telephone (PSTN) with broadband telephone (VoIP) in order to red. 0 Period Jun 06 Sep 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010199052 Revenue 66 121 69 484 74 704 83 714 Round Lot 500,00 Other Income 77 135 1 377 -449 Reg.Share Capital (mill) 1 929,27 Operating Costs 61 919 33 552 63 559 79 063 Number of Shares 19 292,70 EBITDA 4 279 2 922 12 522 4 202 Currency NOK Depreciation 6 440 7 371 8 977 13 523 Gics 50 EBIT -2 161 -4 449 3 545 -9 321 Listed From 02-06-06 Net Financials -816 -450 -738 974 Par Value 0,10 Pre Tax Profit -2 977 -4 899 2 807 -8 347 Number of days traded 123 Tax -1 866 -1 033 1 967 -1 702 Avg. Trades pr Day 10,68 Minority Interests -5 -16 0 0 Net Income -1 106 -3 850 840 -6 645 Key Figures 2006 EPS -0,06 -0,21 0,04 -0,34 (Preliminary figures) Price Book 0,00 8,37 6,29 8,03 Long Term Fixed Assets 87 588 92 455 88 974 90 815 Operating result per Share -0,67 Current Assets 55 842 52 239 47 612 54 594 BVPS 2,75 Cash 36 017 65 389 52 758 110 195 Gross Margin 0,54 Total Assets 179 447 210 083 189 344 255 604 EBITDA Margin 0,08 Total Equity 41 421 55 080 56 604 53 121 EBITDA 23 925 Long term debt 16 108 14 341 11 644 67 916 EBITA -12 386 Short term debt 121 866 140 610 121 044 134 519 Net Margin -0,04 Total Liability and Equity 179 447 210 083 189 344 255 604 ROE -13,25 Net Interestbearing Debt -19 909 -51 048 -41 114 -42 279 Chg Operating Activities 18 802 22 155 265 11 185 Chg Investing activities -22 983 -8 218 -12 357 -12 553 Chg Financing activities 7 807 15 547 -416 58 645 Chg Cash and Liquids 3 626 29 484 -12 508 57 437

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 168 Utilities Company: Arendals Fossekompani ASA Share Price 1600 Ticker: AFK 1200 800 Company Presentation: AFK owns and operates 3 powerplants located in the water course of Arendal, totaly 75 MW installed effect. The Company also is a 400 major financial investor, manly in shares quoted on Oslo Børs. 0 Period Jan 05 Jan 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0003572802 Revenue 69 600 56 300 39 400 62 700 111 000 75 300 131 800 119 600 Round Lot 10,00 Other Income 300 100 200 700 0 0 0 0 Reg.Share Capital (mill) 22 398,10 Operating Costs 34 500 38 000 35 100 42 600 39 800 33 000 52 600 55 100 Number of Shares 2 239,81 EBITDA 35 400 18 400 4 500 20 800 71 200 42 300 79 200 64 500 Currency NOK Depreciation 0 0 0 0 0 0 0 0 Gics 55 EBIT 35 400 18 400 4 500 20 800 71 200 42 300 79 200 64 500 Listed From 15-07-91 Net Financials 56 400 21 700 -4 900 9 900 32 800 4 600 7 900 53 100 Par Value 10,00 Pre Tax Profit 91 800 40 100 -400 30 700 104 000 46 900 87 100 117 600 Number of days traded 149 Tax 12 800 9 700 300 5 900 26 800 24 500 25 500 27 700 Avg. Trades pr Day 2,68 Minority Interests 2 900 1 800 1 300 900 0 0 -2 400 4 300 Net Income 76 100 28 600 -2 000 23 900 77 200 22 400 64 000 85 600 Key Figures 2006 EPS 33,98 12,77 -0,90 10,81 34,91 10,13 28,57 38,72 (Preliminary figures) Price Book 1,91 2,24 2,03 2,00 2,29 2,26 2,12 1,97 Long Term Fixed Assets 184 000 184 700 183 500 187 800 183 900 182 700 645 100 628 300 Operating result per Share 116,31 Current Assets 1 344 100 1 292 300 1 525 300 1 591 100 1 782 900 1 741 400 1 481 500 1 840 400 BVPS 695,73 Cash 176 500 157 600 90 900 79 500 144 000 132 400 138 100 110 400 Gross Margin 1,00 Total Assets 1 704 600 1 634 600 1 799 700 1 858 400 2 110 800 2 056 500 2 264 700 2 579 100 EBITDA Margin 0,59 Total Equity 899 700 833 100 992 000 1 057 500 1 251 300 1 141 500 1 285 500 1 603 000 EBITDA 257 200 Long term debt 663 400 661 900 663 700 665 100 0 660 900 667 500 663 100 EBITA 257 200 Short term debt 120 500 117 600 122 600 113 000 179 200 230 100 286 800 287 300 Net Margin 0,52 Total Liability and Equity 1 704 600 1 634 600 1 799 700 1 858 400 2 110 800 2 056 500 2 264 700 2 579 100 ROE 11,13 Net Interestbearing Debt 486 900 504 300 572 800 585 600 -144 000 606 500 529 400 552 700 Chg Operating Activities 37 100 130 800 66 800 75 900 65 100 89 000 113 900 260 000 Chg Investing activities -1 700 -2 200 -2 300 -2 300 1 700 -9 000 -24 600 -122 000 Chg Financing activities -2 300 -114 500 -116 900 -137 500 -2 300 -27 200 -27 600 -71 500 Chg Cash and Liquids 33 100 14 100 -52 400 -63 900 64 500 52 800 61 700 66 500

Company: Hafslund ASA Share Price 120 Ticker: HNA 80

Company Presentation: Hafslund is Norway’s largest electric power grid 40 owner, the largest power sales provider and a 4 TWh generator of renewable and alternative energy. Hafslund is further an owner in the listed solar energy 0 Period company REC and a significant player within the market for security and Jan 05 Jan 06 Dec 06 technical services.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004306408 Revenue 2 316 000 2 015 000 1 826 000 2 590 000 3 771 000 9 622 000 3 462 000 4 882 000 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 115 464,94 Operating Costs 1 735 000 1 360 000 1 144 000 1 968 000 2 290 000 1 749 000 1 565 000 2 657 000 Number of Shares 115 464,94 EBITDA 581 000 655 000 682 000 622 000 1 481 000 7 873 000 1 897 000 2 225 000 Currency NOK Depreciation 166 000 164 000 162 000 183 000 169 000 175 000 181 000 195 000 Gics 55 EBIT 415 000 491 000 520 000 439 000 1 312 000 7 698 000 1 716 000 2 030 000 Listed From 02-01-80 Net Financials -115 000 -160 000 -55 000 -104 000 -85 000 -89 000 -101 000 -101 000 Par Value 1,00 Pre Tax Profit 300 000 331 000 465 000 335 000 1 227 000 7 609 000 1 615 000 1 928 000 Number of days traded 242 Tax 67 000 77 000 132 000 84 000 157 000 170 000 161 000 242 000 Avg. Trades pr Day 11,06 Minority Interests 2 000 0 0 1 000 0 2 000 0 -5 000 Net Income 231 000 254 000 333 000 250 000 1 070 000 7 437 000 1 454 000 1 691 000 Key Figures 2006 EPS 1,19 1,30 1,71 0,00 5,49 38,10 7,46 8,67 (Preliminary figures) Price Book 1,31 1,44 2,07 2,24 3,07 1,25 1,41 1,34 Long Term Fixed Assets 18 143 000 17 301 000 17 626 000 17 220 000 19 419 000 26 593 000 27 881 000 29 449 000 Operating result per Share 65,48 Current Assets 3 216 000 2 591 000 2 258 000 3 234 000 2 818 000 1 800 000 1 855 000 2 404 000 BVPS 90,03 Cash 267 000 264 000 108 000 267 000 406 000 415 000 366 000 1 193 000 Gross Margin 0,72 Total Assets 21 626 000 20 156 000 19 992 000 20 721 000 22 643 000 28 808 000 30 102 000 33 046 000 EBITDA Margin 0,62 Total Equity 6 625 000 6 263 000 6 349 000 6 390 000 7 473 000 14 435 000 15 902 000 17 596 000 EBITDA 13 475 000 Long term debt 6 576 000 6 855 000 7 674 000 7 594 000 7 048 000 6 199 000 6 193 000 7 023 000 EBITA 12 763 000 Short term debt 6 618 000 5 268 000 4 236 000 4 681 000 6 192 000 6 309 000 6 038 000 6 363 000 Net Margin 0,54 Total Liability and Equity 21 626 000 20 156 000 19 992 000 20 721 000 22 643 000 28 843 000 30 101 000 33 046 000 ROE 56,45 Net Interestbearing Debt 6 309 000 6 591 000 7 566 000 7 327 000 6 642 000 5 784 000 5 827 000 5 830 000 Chg Operating Activities 269 000 901 000 485 000 -31 000 30 000 923 000 573 000 235 000 Chg Investing activities 0 348 000 0 -348 000 -177 000 -283 000 -209 000 -312 000 Chg Financing activities -111 000 -1 251 000 -109 000 -37 000 287 000 -631 000 -413 000 903 000 Chg Cash and Liquids 158 000 -2 000 376 000 -416 000 140 000 9 000 -49 000 826 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 170 GUIDE TO THE NORWEGIAN STOCK MARKET | Page 171 Company: Hafslund ASA Share Price 120 Ticker: HNB 80

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0004306416 Revenue 2 316 000 2 015 000 1 826 000 2 590 000 3 771 000 9 622 000 3 462 000 4 882 000 Round Lot 100,00 Other Income 0 0 0 0 0 0 0 0 Reg.Share Capital (mill) 79 758,51 Operating Costs 1 735 000 1 360 000 1 144 000 1 968 000 2 290 000 1 749 000 1 565 000 2 657 000 Number of Shares 79 758,51 EBITDA 581 000 655 000 682 000 622 000 1 481 000 7 873 000 1 897 000 2 225 000 Currency NOK Depreciation 166 000 164 000 162 000 183 000 169 000 175 000 181 000 195 000 Gics 55 EBIT 415 000 491 000 520 000 439 000 1 312 000 7 698 000 1 716 000 2 030 000 Listed From 20-10-88 Net Financials -115 000 -160 000 -55 000 -104 000 -85 000 -89 000 -101 000 -101 000 Par Value 1,00 Pre Tax Profit 300 000 331 000 465 000 335 000 1 227 000 7 609 000 1 615 000 1 928 000 Number of days traded 251 Tax 67 000 77 000 132 000 84 000 157 000 170 000 161 000 242 000 Avg. Trades pr Day 33,57 Minority Interests 2 000 0 0 1 000 0 2 000 0 -5 000 Net Income 231 000 254 000 333 000 250 000 1 070 000 7 437 000 1 454 000 1 691 000 Key Figures 2006 EPS 1,19 1,30 1,71 0,00 5,49 38,10 7,46 8,67 (Preliminary figures) Price Book 1,31 1,44 2,07 2,24 3,07 1,25 1,41 1,34 Long Term Fixed Assets 18 143 000 17 301 000 17 626 000 17 220 000 19 419 000 26 593 000 27 881 000 29 449 000 Operating result per Share 65,48 Current Assets 3 216 000 2 591 000 2 258 000 3 234 000 2 818 000 1 800 000 1 855 000 2 404 000 BVPS 90,03 Cash 267 000 264 000 108 000 267 000 406 000 415 000 366 000 1 193 000 Gross Margin 0,72 Total Assets 21 626 000 20 156 000 19 992 000 20 721 000 22 643 000 28 808 000 30 102 000 33 046 000 EBITDA Margin 0,62 Total Equity 6 625 000 6 263 000 6 349 000 6 390 000 7 473 000 14 435 000 15 902 000 17 596 000 EBITDA 13 475 000 Long term debt 6 576 000 6 855 000 7 674 000 7 594 000 7 048 000 6 199 000 6 193 000 7 023 000 EBITA 12 763 000 Short term debt 6 618 000 5 268 000 4 236 000 4 681 000 6 192 000 6 309 000 6 038 000 6 363 000 Net Margin 0,54 Total Liability and Equity 21 626 000 20 156 000 19 992 000 20 721 000 22 643 000 28 843 000 30 101 000 33 046 000 ROE 56,45 Net Interestbearing Debt 6 309 000 6 591 000 7 566 000 7 327 000 6 642 000 5 784 000 5 827 000 5 830 000 Chg Operating Activities 269 000 901 000 485 000 -31 000 30 000 923 000 573 000 235 000 Chg Investing activities 0 348 000 0 -348 000 -177 000 -283 000 -209 000 -312 000 Chg Financing activities -111 000 -1 251 000 -109 000 -37 000 287 000 -631 000 -413 000 903 000 Chg Cash and Liquids 158 000 -2 000 376 000 -416 000 140 000 9 000 -49 000 826 000

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 172 Primary Capital Certificates Primary capital certificates: Value creation and stability

Primary capital certificates (or PCC’s) are the listed part of a savings bank’s equity and act in many ways as hybrid capital with characteristics of both stocks and bonds.

Nils Christian Øyen | Financial Analyst First Securities ASA

For the last 10 years the PCC-index has shown a total shareholder return of 22.5% per year, reflecting the high value creation in Norwegian savings banks and more recently also a strong craving for yield stocks in a low interest rate world.

Following industrialization of the Norwegian economy during the 19th century, the need for a decentralized financial infrastructure emerged. The first savings banks were established in the major cities in the 1820s, primarily to encourage the working classes to save a part of their salaries for future needs. In the cities the initiators were wealthy individuals with a social conscience, but in the countryside most banks were established on the initiative of the local government. The savings bank-concept was popular and with limited public regulation, the number of banks grew from 5 in 1823 to around 600 in the 1930s. From 1960 to 1990 the number was reduced to some 130 as several hundred small municipalities were merged into larger entities it was natural for the savings banks to follow suit. New technology, public regulation and larger corporate clients were other important catalysts.

The initial capital in the savings banks was based on donations, thus the banks were structured as mutual organizations. However, in 1987 the Savings Banks’ Act was amended to enable savings banks to raise capital in the equity market by issuing Primary Capital Certificates (PCC’s). Following the Norwegian banking crisis of 1988-1992, several of the largest banks used this option. The main difference between PCC’s and shares is that PCC’s give ownership rights to a specified share of the bank’s financial result, reflecting the share of PCC’s in the total equity. Currently, this share ranges between 9% and 60%. Regardless of this ratio, the holders of PCC’s elect 40% of the savings banks committee of representatives, so the influence is therefore capped compared with ordinary shares. In a year with deficit or in a default situation, the PCC capital has priority over the savings banks fund which constitutes the rest of the equity in the bank. This defensive character reduces

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 174 the risk in PCC’s considerably compared to stocks in a commercial bank which are liable for 100% of any deficit. As most of the earnings attributable to the savings bank’s fund are retained, the pay-out ratio to PCC-holders is 70%-100%.

There are 126 savings banks in Norway of which 22 have issued PCC’s. Eight of the 10 largest are among the listed banks. Total market capitalization is NOK 18 billion and the three largest banks in terms of market value are Sparebanken Rogaland (NOK 5.1 bn), Sparebanken Midt-Norge (NOK 4.0bn ) and Sparebanken Nord-Norge (NOK 2.1bn). On an aggregated basis, the savings banks are an important player in the traditional Norwegian banking market with a market share of 35% of gross lending and 50% of deposits. Through the two competing alliances Sparebank 1 Group and Terra, the banks also have established leading positions within asset management, pensions and non-life insurance. The savings banks sector is still too fragmented, and a consolidation over the next five years is widely expected. The Norwegian Savings Banks Association has suggested a new regulatory framework that is more liberal to structural changes than the prevailing one. We believe the likely amendment of this framework together with increased competition for human capital will lead to a large reduction in the number of smaller banks over the next years.

The history of the savings banks over the last 10 years is a history of value creation. First Securities has coverage of 9 of the largest banks, which on average, these banks have generated a Return on Equity of 14% in the period 1995-2006. Given a cost of equity of 8.5% this corresponds to a Economic Value Added spread of almost 6%! The most profitable bank in the period has been Sparebank 1 Rogaland with a ROE of 17%. 2006 was a record year for the industry with loan loss recoveries, upbeat credit growth and capital gains abundant. Although margin pressure is increasing, we expect another good year for the banks in 2007 on the back of a very healthy Norwegian economy. With modest interest rate expectations going forward, a dividend yield of 7% is still attractive to PCC-owners.

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 175 Share Price Aurskog Sparebank 250,0 Ticker: AURG 200,0 150,0 Company Presentation: Aurskog Sparebank is an independent savings bank. Head office is located at Aurskog with branch offices at Bjørkelangen, Årnes 100,0 and Jessheim. As a member of the Terra-Gruppen we offer our clients a wide 50,0 Period range of financial products and services. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006001601 Isin NO0006001700 Total Interest Income 32 972 35 304 36 670 37 881 41 908 44 959 49 890 55 217 Round Lot 50,00 Round Lot 100,00 Total Interest Expenses 15 788 16 039 18 585 16 942 23 173 25 123 28 382 32 652 Reg.Share Capital (mill) 74 047,10 Reg.Share Capital (mill) 40 000,00 Net Interest Income 17 184 19 265 18 085 20 938 18 735 19 836 21 508 22 565 Number of Shares 740,47 Number of Shares 400,00 Other Income 8 143 7 952 6 687 9 679 10 680 10 454 6 385 6 974 Currency NOK Currency NOK Depreciations 1 086 1 049 1 037 1 068 1 313 1 046 1 320 1 286 Gics PCC Gics PCC Pre Tax Profit 10 457 13 658 12 442 8 046 9 891 15 616 12 481 11 339 Listed From 12-08-98 Listed From 06-08-98 Tax 1 086 1 049 1 037 1 068 1 313 1 046 1 320 1 286 Par Value 100,00 Par Value 100,00 Net Income 7 892 10 807 9 187 6 670 8 173 12 630 9 001 8 505 Number of days traded 52 Number of days traded 53 Avg. Trades pr Day 1,56 Avg. Trades pr Day 1,55 Net Loans 2 808 547 3 006 348 3 076 258 3 234 369 3 341 978 3 542 371 3 731 624 3 965 243 Other Assets 589 813 467 415 801 760 683 093 667 574 798 576 715 137 557 Key Figures 2006 Key Figures 2006 Total Assets 3 398 360 3 473 763 3 878 018 3 917 462 4 009 552 4 340 947 4 446 761 4 696 876 (Preliminary figures) (Preliminary figures) To Depoits from Customers 2 308 069 2 364 605 2 344 659 2 145 219 2 314 519 2 420 877 2 384 060 2 375 747 Other Liabilities 732 227 738 067 1 153 174 1 383 872 1 313 262 1 527 377 1 661 306 25 834 Net Interest Income 82 645 Net Interest Income 37 124 Total Subordinated Loans 98 808 98 858 98 908 98 958 99 008 99 058 99 108 182 377 Other Income 8 534 Other Income 37 Total Equity 259 255 272 233 281 277 289 412 282 765 293 634 302 287 311 239 Depreciations 4 964 Depreciations 3 078 Total Liability and Equity 3 398 359 3 473 763 3 878 018 3 917 462 4 009 554 4 340 947 4 446 761 4 696 876 Pre Tax Profit 49 330 Pre Tax Profit 13 388 Tax 4 964 Tax 3 078 Net Income 38 312 Net Income 10 890 ROE 6,38 ROE 3,29 Share Price Helgeland Sparebank 250,0 Ticker: HELG 200,0 150,0 Company Presentation: Helgeland Sparebank is an independent savings bank focusing on the Helgeland district. The bank is the leading supplier of 100,0 financial services in Helgeland with 16 branch offices and has an excess of NOK 12 billion under management. 50,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010029804 Isin NO0010012636 Total Interest Income 68 882 131 196 131 542 137 206 137 000 145 000 149 000 155 000 Round Lot 50,00 Round Lot 50,00 Total Interest Expenses 28 182 53 028 55 775 60 451 67 000 75 000 78 000 80 000 Reg.Share Capital (mill) 201 825,90 Reg.Share Capital (mill) 50 000,00 Net Interest Income 40 700 78 168 75 767 76 755 70 000 70 000 71 000 75 000 Number of Shares 2 018,26 Number of Shares 500,00 Other Income 4 750 2 265 19 916 30 507 19 000 20 000 3 000 30 000 Currency NOK Currency NOK Depreciations 3 900 4 363 (null) (null) (null) (null) (null) (null) Gics PCC Gics PCC Pre Tax Profit -16 807 -9 038 36 648 24 977 35 000 38 000 39 000 47 000 Listed From 03-02-00 Listed From 17-08-99 Tax 3 900 4 363 (null) (null) (null) (null) (null) (null) Par Value 100,00 Par Value 100,00 Net Income -12 469 -476 27 438 20 631 25 000 26 000 28 000 38 000 Number of days traded 198 Number of days traded 28 Avg. Trades pr Day 3,71 Avg. Trades pr Day 1,36 Net Loans 5 619 842 10 585 573 10 569 811 11 291 282 10 513 000 10 758 000 10 886 000 11 312 000 Other Assets 848 948 83 377 1 605 453 1 092 280 1 990 000 2 014 000 65 000 1 335 000 Key Figures 2006 Key Figures 2006 Total Assets 6 468 790 12 522 276 12 175 264 12 383 562 12 503 000 12 772 000 12 414 000 12 647 000 (Preliminary figures) (Preliminary figures) To Depoits from Customers 3 387 935 6 584 336 6 480 751 7 040 863 6 950 000 7 366 000 7 059 000 7 536 000 Other Liabilities 2 432 406 51 477 4 291 833 4 051 709 4 239 000 4 066 000 3 594 000 3 754 000 Net Interest Income 286 324 Net Interest Income 49 862 Total Subordinated Loans 120 000 189 040 190 000 190 000 190 000 190 000 140 000 140 000 Other Income 819 Other Income 1 283 Total Equity 528 449 1 080 542 1 091 291 1 100 993 1 124 000 1 150 000 1 178 000 1 217 000 Depreciations 18 009 Depreciations 861 Total Liability and Equity 6 468 790 12 522 276 12 175 264 12 383 565 12 503 000 12 772 000 12 414 000 12 647 000 Pre Tax Profit 159 072 Pre Tax Profit 25 193 Tax 18 009 Tax 861 Net Income 116 523 Net Income 18 493 ROE 5,00 ROE 4,65

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 176 Share Price Hol Sparebank 180,0 Ticker: HOLG 200,0 140,0 Company Presentation: Hol sparebank is an independent savings bank in the Hol district, is shareholder in the Terra-Gruppen A/S, with two offices and a 100,0 mangament capital of 1.9 billion NOK. 60,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0006001601 (All figures are in NOK ‘ 000) Isin NO0006001700 Round Lot 50,00 Total Interest Income 13 634 14 034 14 816 15 748 16 221 33 968 19 087 21 240 Round Lot 100,00 Reg.Share Capital (mill) 74 047,10 Total Interest Expenses 5 066 5 844 5 756 6 574 7 649 15 753 10 387 11 031 Reg.Share Capital (mill) 40 000,00 Number of Shares 740,47 Net Interest Income 8 568 8 190 9 060 9 174 8 572 18 215 8 700 10 209 Number of Shares 400,00 Currency NOK Other Income 4 569 339 356 5 159 1 186 1 149 207 4 868 Currency NOK Gics PCC Depreciations 560 540 536 812 808 1 568 756 754 Gics PCC Listed From 12-08-98 Pre Tax Profit 5 797 7 371 7 824 4 784 1 791 3 876 4 374 5 138 Listed From 06-08-98 Par Value 100,00 Tax 560 540 536 812 808 1 568 756 754 Par Value 100,00 Number of days traded 52 Net Income 4 636 5 032 7 413 5 456 1 415 2 820 3 486 4 584 Number of days traded 53 Avg. Trades pr Day 1,56 Avg. Trades pr Day 1,55 Net Loans 1 127 968 1 168 275 1 224 347 1 367 745 1 264 715 1 344 952 1 395 411 1 452 504 Key Figures 2006 Other Assets 365 154 17 336 17 777 269 411 471 610 386 836 15 107 417 337 Key Figures 2006 (Preliminary figures) Total Assets 1 493 122 1 550 010 1 629 968 1 637 156 1 736 325 1 731 788 1 761 159 1 869 841 (Preliminary figures) To Depoits from Customers 1 159 956 1 078 859 1 098 929 1 223 908 1 324 805 1 264 434 1 241 504 1 371 049 Net Interest Income 82 645 Other Liabilities 150 150 14 108 7 364 215 614 216 708 271 065 48 832 296 556 Net Interest Income 37 124 Other Income 8 534 Total Subordinated Loans 34 808 34 813 34 818 34 947 35 306 34 970 35 367 34 844 Other Income 37 Depreciations 4 964 Total Equity 148 208 155 579 163 403 162 687 159 506 161 319 165 680 167 392 Depreciations 3 078 Pre Tax Profit 49 330 Total Liability and Equity 1 493 122 1 550 010 1 629 968 1 637 156 1 736 325 1 731 788 1 765 637 1 869 841 Pre Tax Profit 13 388 Tax 4 964 Tax 3 078 Net Income 38 312 Net Income 10 890 ROE 6,38 ROE 3,29 Share Price Høland Sparebank 185,0 Ticker: HSPG 175,0 265,0 Company Presentation: Høland Sparebank is an independent savings 155,0 bank affiliated to the Terra-Gruppen AS. The Bank is a full service financial 145,0 operator with competitive products. Three branch offices are located in the Aurskog-Høland district. 135,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0010029804 (All figures are in NOK ‘ 000) Isin NO0010012636 Round Lot 50,00 Total Interest Income 17 126 17 670 18 497 21 307 20 610 22 653 25 854 28 347 Round Lot 50,00 Reg.Share Capital (mill) 201 825,90 Total Interest Expenses 6 835 7 087 7 437 9 383 9 937 10 449 12 496 14 720 Reg.Share Capital (mill) 50 000,00 Number of Shares 2 018,26 Net Interest Income 10 291 10 583 11 060 11 924 10 673 12 204 13 358 13 627 Number of Shares 500,00 Currency NOK Other Income 2 553 4 659 5 411 305 3 740 2 859 3 812 6 152 Currency NOK Gics PCC Depreciations 254 258 275 268 209 208 219 225 Gics PCC Listed From 03-02-00 Pre Tax Profit 3 776 7 001 7 254 2 026 5 421 6 348 7 474 5 950 Listed From 17-08-99 Par Value 100,00 Tax 254 258 275 268 209 208 219 225 Par Value 100,00 Number of days traded 198 Net Income 2 744 4 941 5 174 1 915 3 794 4 580 5 381 4 738 Number of days traded 28 Avg. Trades pr Day 3,71 Avg. Trades pr Day 1,36 Net Loans 1 578 296 1 625 862 1 675 458 1 854 294 1 773 825 1 908 963 2 036 467 2 134 816 Key Figures 2006 Other Assets 254 144 262 264 274 213 177 646 273 305 275 231 233 812 282 458 Key Figures 2006 (Preliminary figures) Total Assets 1 832 440 1 888 126 1 949 671 2 031 940 2 047 130 2 184 194 2 270 279 2 417 274 (Preliminary figures) To Depoits from Customers 1 116 807 1 161 419 1 212 526 1 299 110 1 387 898 1 517 243 1 589 526 1 695 120 Net Interest Income 286 324 Other Liabilities 491 431 497 550 542 197 501 008 423 616 427 178 475 089 477 207 Net Interest Income 49 862 Other Income 819 Total Subordinated Loans 39 369 39 383 (null) 39 460 39 460 39 490 (null) 39 545 Other Income 1 283 Depreciations 18 009 Total Equity 184 833 189 774 194 948 192 362 196 156 200 283 205 664 205 402 Depreciations 861 Pre Tax Profit 159 072 Total Liability and Equity 1 832 440 1 888 126 1 949 671 2 031 940 2 047 130 2 184 194 2 270 279 2 417 274 Pre Tax Profit 25 193 Tax 18 009 Tax 861 Net Income 116 523 Net Income 18 493 ROE 5,00 ROE 4,65

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 177 Share Price Indre Sogn Sparebank 140,0 Ticker: ISSG 120,0 100,0 80,0 Company Presentation: Indre Sogn Sparebank is a regional Bank for the Indre Sogn district with head office at Årdalstangen and branch offices at 60,0 Øvre Årdal, Lærdal and Sogndal. Assets under management is about 40,0 Period NOK 1600 million and the bank has 36 employees. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000603 Isin NO0006390301 Total Interest Income 17 963 18 945 19 620 21 674 25 261 24 504 22 358 Round Lot 100,00 Round Lot 100,00 Total Interest Expenses 8 441 8 854 9 188 10 769 11 240 13 605 15 297 Reg.Share Capital (mill) 63 250,00 Reg.Share Capital (mill)1 262 227,13 Net Interest Income 9 522 10 091 10 432 10 905 14 021 10 899 7 061 Number of Shares 632,50 Number of Shares 50 489,06 Other Income 3 541 4 458 4 061 1 075 2 411 2 313 1 794 Currency NOK Currency NOK Depreciations 583 663 675 1 563 750 750 1 415 Gics PCC Gics PCC Pre Tax Profit 2 767 4 797 6 831 -2 443 5 114 3 972 -3 012 Listed From 20-01-97 Listed From 02-05-94 Tax 583 663 675 1 563 750 750 1 415 Par Value 100,00 Par Value 25,00 Net Income 1 992 4 110 4 956 -1 142 3 750 2 860 -3 326 Number of days traded 56 Number of days traded 251 Avg. Trades pr Day 1,95 Avg. Trades pr Day 34,57 Net Loans 1 667 484 1 665 891 1 734 522 1 956 209 1 794 874 1 883 619 1 934 467 Other Assets 347 536 366 823 395 497 220 998 484 760 510 090 515 274 Key Figures 2006 Key Figures 2006 Total Assets 2 015 020 2 032 714 2 130 019 2 177 207 2 279 634 2 393 709 2 449 741 (Preliminary figures) (Preliminary figures) To Depoits from Customers 1 256 995 1 290 208 1 377 872 1 493 735 1 592 959 1 667 673 1 727 416 Other Liabilities 515 122 495 569 500 388 432 855 437 368 447 134 445 687 Net Interest Income 43 282 Net Interest Income 1 006 000 Total Subordinated Loans 69 010 69 010 69 010 69 010 69 010 88 750 88 850 Other Income 11 487 Other Income 27 000 Total Equity 173 893 177 927 182 749 181 607 180 297 190 152 187 788 Depreciations 3 665 Depreciations 49 000 Total Liability and Equity 2 015 020 2 032 714 2 130 019 2 177 207 2 279 634 2 393 709 2 449 741 Pre Tax Profit 14 141 Pre Tax Profit 1 116 000 Tax 3 665 Tax 49 000 Net Income 9 999 Net Income 896 000 ROE 2,74 ROE 11,42 Share Price Melhus Sparebank 250,0 Ticker: MELG 200,0 150,0 Company Presentation: Melhus Sparebank is a full-service financial operator and has 4 branch offices located in Melhus and Trondheim. 100,0 Target customers are within the agricultural and private market as well 50,0 Period as small/mid sized corporations. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006001908 Isin NO0006390004 Total Interest Income 26 898 26 069 30 608 29 186 30 875 33 944 35 625 37 712 Round Lot 50,00 Round Lot 50,00 Total Interest Expenses 9 482 10 509 14 088 11 921 14 755 17 025 19 061 22 077 Reg.Share Capital (mill) 80 000,00 Reg.Share Capital (mill) 552 615,40 Net Interest Income 17 416 15 560 16 520 17 265 16 120 16 919 16 564 15 635 Number of Shares 800,00 Number of Shares 5 526,15 Other Income 2 316 6 716 5 004 3 708 6 676 5 306 288 3 576 Currency NOK Currency NOK Depreciations 668 669 668 855 1 130 857 929 916 Gics PCC Gics PCC Pre Tax Profit 6 172 11 276 10 053 4 537 10 391 10 603 9 657 4 284 Listed From 09-11-98 Listed From 12-06-89 Tax 668 669 668 855 1 130 857 929 916 Par Value 100,00 Par Value 100,00 Net Income 4 509 9 023 8 104 2 217 8 185 7 923 6 960 1 775 Number of days traded 50 Number of days traded 242 Avg. Trades pr Day 1,46 Avg. Trades pr Day 7,00 Net Loans 2 421 387 2 512 278 2 524 445 2 661 816 2 698 356 2 815 377 2 867 446 3 069 420 Other Assets 251 737 281 054 261 880 246 776 279 120 313 141 302 578 10 115 Key Figures 2006 Key Figures 2006 Total Assets 2 673 124 2 793 332 2 786 325 2 908 592 2 977 476 3 128 518 3 170 024 3 200 064 (Preliminary figures) (Preliminary figures) To Depoits from Customers 1 783 152 1 739 102 1 813 020 1 991 776 2 055 609 1 830 693 2 141 770 1 864 117 Other Liabilities 576 179 731 724 642 207 583 649 589 960 967 630 679 941 16 570 Net Interest Income 65 227 Net Interest Income 615 000 Total Subordinated Loans 89 857 89 470 89 950 89 678 90 186 89 316 90 327 89 983 Other Income 2 295 Other Income 191 000 Total Equity 223 936 233 036 241 148 243 489 241 721 240 879 257 986 264 747 Depreciations 3 732 Depreciations 14 000 Total Liability and Equity 2 673 124 2 793 332 2 786 325 2 908 592 2 977 476 3 128 518 3 170 024 3 200 064 Pre Tax Profit 36 588 Pre Tax Profit 384 000 Tax 3 732 Tax 14 000 Net Income 26 400 Net Income 274 000 ROE 7,56 ROE 6,32

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 178 Share Price Sparebanken Midt-Norge 90,0 Ticker: MING 70,0 50,0 Company Presentation: As of 31 Dec 2006 SpareBank 1 Midt-Norge has assets totalling NOK 63,2 billion. The bank is one of six owners of SpareBank 1 30,0 Gruppen. The bank organises its operations in 5 divisions. 10,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0006000603 (All figures are in NOK ‘ 000) Isin NO0006390301 Round Lot 100,00 Total Interest Income 396 000 476 000 533 000 511 000 528 000 1 091 000 609 000 Round Lot 100,00 Reg.Share Capital (mill) 63 250,00 Total Interest Expenses 186 000 221 000 282 000 266 000 277 000 588 000 357 000 Reg.Share Capital (mill)1 262 227,13 Number of Shares 632,50 Net Interest Income 210 000 255 000 251 000 245 000 251 000 503 000 252 000 Number of Shares 50 489,06 Currency NOK Other Income 151 000 187 000 132 000 178 000 126 000 265 000 138 000 Currency NOK Gics PCC Depreciations (null) (null) (null) (null) (null) (null) (null) Gics PCC Listed From 20-01-97 Pre Tax Profit 160 000 235 000 228 000 294 000 262 000 484 000 284 000 Listed From 02-05-94 Par Value 100,00 Tax (null) (null) (null) (null) (null) (null) (null) Par Value 25,00 Number of days traded 56 Net Income 122 000 185 000 175 000 233 000 216 000 388 000 214 000 Number of days traded 251 Avg. Trades pr Day 1,95 Avg. Trades pr Day 34,57 Net Loans 40 969 000 42 306 000 43 728 000 44 780 000 45 830 000 48 043 000 50 838 000 Key Figures 2006 Other Assets 6 537 000 7 723 000 (null) 9 547 000 8 297 000 7 744 000 (null) Key Figures 2006 (Preliminary figures) Total Assets 47 506 000 50 029 000 50 202 000 54 327 000 54 127 000 55 787 000 60 820 000 (Preliminary figures) To Depoits from Customers 25 012 000 26 881 000 26 111 000 28 077 000 28 089 000 29 816 000 33 038 000 Net Interest Income 43 282 Other Liabilities 18 109 000 18 263 000 19 036 000 20 912 000 20 898 000 20 709 000 22 260 000 Net Interest Income 1 006 000 Other Income 11 487 Total Subordinated Loans 1 826 000 1 667 000 1 652 000 1 667 000 1 637 000 1 591 000 1 636 000 Other Income 27 000 Depreciations 3 665 Total Equity 2 559 000 3 218 000 3 403 000 3 671 000 3 503 000 3 671 000 3 886 000 Depreciations 49 000 Pre Tax Profit 14 141 Total Liability and Equity 47 506 000 50 029 000 50 202 000 54 327 000 54 127 000 55 787 000 60 820 000 Pre Tax Profit 1 116 000 Tax 3 665 Tax 49 000 Net Income 9 999 Net Income 896 000 ROE 2,74 ROE 11,42 Share Price Sparebanken Møre 350,0 Ticker: MORG 300,0 250,0 Company Presentation: The Sparebanken Møre Group consists of the Parent bank and its 4 wholly-owned subsidiaries. Its Head Office is located in Ålesund. 200,0 The bank’s business activities are concentrated in the North-West. 150,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0006001908 (All figures are in NOK ‘ 000) Isin NO0006390004 Round Lot 50,00 Total Interest Income 253 000 254 000 270 000 273 000 288 000 600 000 344 000 377 000 Round Lot 50,00 Reg.Share Capital (mill) 80 000,00 Total Interest Expenses 97 000 103 000 118 000 126 000 143 000 301 000 187 000 218 000 Reg.Share Capital (mill) 552 615,40 Number of Shares 800,00 Net Interest Income 156 000 151 000 152 000 147 000 145 000 299 000 157 000 159 000 Number of Shares 5 526,15 Currency NOK Other Income 33 000 59 000 50 000 48 000 46 000 93 000 46 000 52 000 Currency NOK Gics PCC Depreciations 3 000 3 000 4 000 2 000 4 000 8 000 5 000 1 000 Gics PCC Listed From 09-11-98 Pre Tax Profit 86 000 106 000 93 000 83 000 87 000 184 000 101 000 98 000 Listed From 12-06-89 Par Value 100,00 Tax 3 000 3 000 4 000 2 000 4 000 8 000 5 000 1 000 Par Value 100,00 Number of days traded 50 Net Income 61 000 77 000 69 000 59 000 62 000 133 000 72 000 68 000 Number of days traded 242 Avg. Trades pr Day 1,46 Avg. Trades pr Day 7,00 Net Loans 21 602 000 22 431 000 23 885 000 23 971 000 25 213 000 25 322 000 26 416 000 27 449 000 Key Figures 2006 Other Assets 2 768 000 3 624 000 2 358 000 2 862 000 2 512 000 3 903 000 3 702 000 4 308 000 Key Figures 2006 (Preliminary figures) Total Assets 24 370 000 26 055 000 26 243 000 26 833 000 27 725 000 29 225 000 30 118 000 31 757 000 (Preliminary figures) To Depoits from Customers 15 226 000 16 584 000 16 645 000 14 366 000 17 405 000 15 069 000 17 952 000 19 768 000 Net Interest Income 65 227 Other Liabilities 6 715 000 6 763 000 6 818 000 10 046 000 7 969 000 11 743 000 9 681 000 9 425 000 Net Interest Income 615 000 Other Income 2 295 Total Subordinated Loans 530 000 730 000 729 000 330 000 330 000 330 000 330 000 330 000 Other Income 191 000 Depreciations 3 732 Total Equity 1 899 000 1 978 000 2 051 000 2 091 000 2 020 000 2 083 000 2 155 000 2 234 000 Depreciations 14 000 Pre Tax Profit 36 588 Total Liability and Equity 24 370 000 26 055 000 26 243 000 26 833 000 27 724 000 29 225 000 30 118 000 31 757 000 Pre Tax Profit 384 000 Tax 3 732 Tax 14 000 Net Income 26 400 Net Income 274 000 ROE 7,56 ROE 6,32

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 179 Share Price Nes Prestegjeld Sparebank 140,0 Ticker: NESG 120,0 100,0 Company Presentation: Nes Prestegjelds Sparebank is a regional savings bank with head office at Nesbyen and branch offices at Drammen, Flå, Nore, 80,0 Ulvdal and Sigdal. The bank offers products and services in the financial 60,0 Period and insurance sector Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006001809 Isin NO0006001502 Total Interest Income 27 678 29 804 32 182 36 699 36 609 37 632 41 790 47 042 Round Lot 100,00 Round Lot 50,00 Total Interest Expenses 13 877 14 438 15 834 20 848 20 736 22 815 25 176 28 953 Reg.Share Capital (mill)1 42 500,00 Reg.Share Capital (mill)1 25 000,00 Net Interest Income 13 801 15 366 16 348 15 851 15 873 14 817 16 614 18 089 Number of Shares 1 500,00 Number of Shares 1 250,00 Other Income 11 951 12 521 13 331 10 723 10 453 16 676 5 188 6 772 Currency NOK Currency NOK Depreciations 1 886 1 991 1 747 -26 2 057 1 879 1 622 1 062 Gics PCC Gics PCC Pre Tax Profit 5 431 7 685 10 568 1 576 4 921 8 216 6 990 7 992 Listed From 19-10-98 Listed From 14-07-98 Tax 1 886 1 991 1 747 -26 2 057 1 879 1 622 1 062 Par Value 95,00 Par Value 100,00 Net Income 4 197 5 221 7 624 824 3 724 5 500 4 927 8 590 Number of days traded 73 Number of days traded 93 Avg. Trades pr Day 1,67 Avg. Trades pr Day 1,95 Net Loans 2 215 417 2 397 091 2 486 618 2 689 114 2 823 930 2 968 444 3 089 195 3 256 824 Other Assets 376 032 326 378 532 190 366 526 449 722 484 578 425 603 15 399 Key Figures 2006 Key Figures 2006 Total Assets 2 591 449 2 723 469 3 018 808 3 055 640 3 273 652 3 453 022 3 569 879 3 714 807 (Preliminary figures) (Preliminary figures) To Depoits from Customers 1 998 502 2 192 338 2 247 562 2 306 740 2 374 816 2 549 414 2 593 749 2 480 135 Other Liabilities 305 800 244 036 477 191 450 859 693 927 508 789 577 962 32 023 Net Interest Income 65 393 Net Interest Income Total Subordinated Loans 98 776 98 827 98 878 98 930 (null) 138 777 138 820 138 862 Other Income 22 109 Other Income Total Equity 188 371 188 268 195 177 199 111 204 909 256 042 259 348 274 948 Depreciations 6 620 Depreciations Total Liability and Equity 2 591 449 2 723 469 3 018 808 3 055 640 3 273 652 3 453 022 3 569 879 3 714 805 Pre Tax Profit 28 119 Pre Tax Profit Tax 6 620 Tax Net Income 22 741 Net Income ROE 4,80 ROE Share Price Sparebanken Nord-Norge 180,0 Ticker: NONG 140,0 100,0 Company Presentation: SpareBank 1 Nord-Norge shall be a profitable and leading provider of financial products and services in North Norway. 60,0 Target customers are within the retail, corporate and public market. 20,0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000801 Isin NO0006390400 Total Interest Income 424 000 421 000 442 000 471 000 473 000 536 000 573 000 633 000 Round Lot 100,00 Round Lot 50,00 Total Interest Expenses 161 000 155 000 171 000 203 000 211 000 266 000 290 000 351 000 Reg.Share Capital (mill) 791 642,20 Reg.Share Capital (mill) 50 000,00 Net Interest Income 263 000 266 000 271 000 268 000 262 000 270 000 283 000 282 000 Number of Shares 15 832,84 Number of Shares 500,00 Other Income 110 000 106 000 164 000 207 000 167 000 107 000 14 000 264 000 Currency NOK Currency NOK Depreciations 12 000 12 000 12 000 (null) 12 000 11 000 11 000 15 000 Gics PCC Gics PCC Pre Tax Profit 168 000 147 000 203 000 206 000 227 000 150 000 224 000 340 000 Listed From 02-05-94 Listed From 13-06-96 Tax 12 000 12 000 12 000 (null) 12 000 11 000 11 000 15 000 Par Value 50,00 Par Value 100,00 Net Income 120 000 103 000 160 000 170 000 164 000 106 000 170 000 292 000 Number of days traded 250 Number of days traded 37 Avg. Trades pr Day 17,19 Avg. Trades pr Day 1,43 Net Loans 37 499 000 39 171 000 40 788 000 41 157 000 41 963 000 43 312 000 45 222 000 45 853 000 Other Assets 5 087 000 5 525 000 5 533 000 7 811 000 6 543 000 8 184 000 111 000 9 042 000 Key Figures 2006 Key Figures 2006 Total Assets 42 586 000 44 696 000 46 321 000 48 968 000 48 506 000 51 496 000 52 557 000 54 895 000 (Preliminary figures) (Preliminary figures) To Depoits from Customers 26 142 000 28 260 000 27 150 000 27 122 000 27 648 000 30 764 000 27 782 000 29 749 000 Other Liabilities 12 286 000 12 439 000 15 019 000 17 512 000 16 677 000 16 486 000 1 551 000 20 381 000 Net Interest Income 1 097 000 Net Interest Income Total Subordinated Loans 1 621 000 1 320 000 1 315 000 1 290 000 1 282 000 1 243 000 1 302 000 1 320 000 Other Income 679 000 Other Income Total Equity 2 537 000 2 677 000 2 837 000 3 044 000 2 899 000 3 003 000 3 167 000 3 445 000 Depreciations 49 000 Depreciations Total Liability and Equity 42 586 000 44 696 000 46 321 000 48 968 000 48 506 000 51 496 000 52 557 000 54 895 000 Pre Tax Profit 941 000 Pre Tax Profit Tax 49 000 Tax Net Income 731 000 Net Income ROE 11,51 ROE

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 180 Sparebanken Pluss Share Price 250 Ticker: PLUG 230 Company Presentation: Sparebanken Pluss shall be a leading, financially strong and independent bank with its main market at Soerlandet. The head 210 office is located in Kristiansand with 15 branches in Vest- and Aust Agder. 190 Period Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0006001809 (All figures are in NOK ‘ 000) Isin NO0006001502 Round Lot 100,00 Total Interest Income 125 964 135 317 143 651 157 546 170 276 186 043 200 779 Round Lot 50,00 Reg.Share Capital (mill)1 42 500,00 Total Interest Expenses 55 149 60 698 67 209 79 924 92 360 105 067 115 218 Reg.Share Capital (mill)1 25 000,00 Number of Shares 1 500,00 Net Interest Income 70 815 74 619 76 442 77 622 77 916 80 976 85 561 Number of Shares 1 250,00 Currency NOK Other Income 18 686 26 741 22 278 21 889 25 563 39 362 25 825 Currency NOK Gics PCC Depreciations 2 670 2 707 2 636 2 723 2 631 2 362 2 332 Gics PCC Listed From 19-10-98 Pre Tax Profit 46 554 59 801 57 735 57 179 59 847 80 112 70 981 Listed From 14-07-98 Par Value 95,00 Tax 2 670 2 707 2 636 2 723 2 631 2 362 2 332 Par Value 100,00 Number of days traded 73 Net Income 32 820 42 160 40 703 41 417 42 192 60 037 50 131 Number of days traded 93 Avg. Trades pr Day 1,67 Avg. Trades pr Day 1,95 Net Loans 14 265 084 14 969 694 15 645 629 16 918 121 16 695 879 17 355 176 18 049 602 Key Figures 2006 Other Assets 1 489 308 1 786 713 1 136 441 1 134 056 2 517 579 2 065 018 1 539 190 Key Figures 2006 (Preliminary figures) Total Assets 15 754 392 16 756 407 16 782 070 18 052 177 19 213 458 19 420 194 19 588 792 (Preliminary figures) To Depoits from Customers 9 101 921 9 715 955 9 635 262 9 648 238 10 557 664 10 696 468 11 237 746 Net Interest Income 65 393 Other Liabilities 5 305 803 5 651 625 5 717 278 6 958 993 7 156 820 7 164 715 6 741 904 Net Interest Income Other Income 22 109 Total Subordinated Loans (null) (null) (null) (null) (null) (null) (null) Other Income Depreciations 6 620 Total Equity 1 346 668 1 388 827 1 429 530 1 444 946 1 498 974 1 559 011 1 609 142 Depreciations Pre Tax Profit 28 119 Total Liability and Equity 15 754 392 16 756 407 16 782 070 18 052 177 19 213 458 19 420 194 19 588 792 Pre Tax Profit Tax 6 620 Tax Net Income 22 741 Net Income ROE 4,80 ROE

Ringerikes Sparebank Share Price 250 Ticker: RING 200 150 Company Presentation: Ringerikes Sparebank, etablished in 1833, is an 100 independent savings bank affiliated to Sparebank 1 Group. The market 50 share in Ringerike and Hole is 45% in the bank sector and 20% in the Period insurance sector. 0 Jan 05 Dec 05 Dec 06

2005 2006 Share details (31.12.2006) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) Isin NO0006000801 (All figures are in NOK ‘ 000) Isin NO0006390400 Round Lot 100,00 Total Interest Income 41 928 85 671 45 372 48 587 50 275 54 044 58 634 Round Lot 50,00 Reg.Share Capital (mill) 791 642,20 Total Interest Expenses 13 715 28 625 16 524 19 606 22 418 25 174 28 538 Reg.Share Capital (mill) 50 000,00 Number of Shares 15 832,84 Net Interest Income 28 213 57 046 28 848 28 981 27 857 28 870 30 096 Number of Shares 500,00 Currency NOK Other Income 6 530 1 085 10 158 6 842 9 741 14 449 390 Currency NOK Gics PCC Depreciations 685 1 392 675 661 620 615 607 Gics PCC Listed From 02-05-94 Pre Tax Profit 14 911 47 513 21 139 19 569 17 890 27 947 16 714 Listed From 13-06-96 Par Value 50,00 Tax 685 1 392 675 661 620 615 607 Par Value 100,00 Number of days traded 250 Net Income 10 736 37 210 16 328 14 879 13 697 22 391 12 033 Number of days traded 37 Avg. Trades pr Day 17,19 Avg. Trades pr Day 1,43 Net Loans 4 320 645 4 403 656 4 598 265 4 790 300 4 947 928 5 060 443 5 265 789 Key Figures 2006 Other Assets 400 722 3 128 395 383 446 366 408 112 509 812 459 783 Key Figures 2006 (Preliminary figures) Total Assets 4 721 367 4 935 559 4 993 648 5 236 666 5 356 040 5 570 255 5 725 572 (Preliminary figures) To Depoits from Customers 3 032 195 3 026 622 3 056 279 3 018 719 3 201 106 3 494 450 3 633 137 Net Interest Income 1 097 000 Other Liabilities 999 436 25 028 1 204 831 1 478 155 1 385 254 1 287 734 1 292 331 Net Interest Income Other Income 679 000 Total Subordinated Loans (null) (null) (null) (null) (null) (null) (null) Other Income Depreciations 49 000 Total Equity 689 736 716 210 732 538 739 792 769 680 788 071 800 104 Depreciations Pre Tax Profit 941 000 Total Liability and Equity 4 721 367 4 935 559 4 993 648 5 236 666 5 356 040 5 570 255 5 725 572 Pre Tax Profit Tax 49 000 Tax Net Income 731 000 Net Income ROE 11,51 ROE

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 181 SpareBank 1 SR-Bank Share Price 250 200 Ticker: ROGG 150 100 Company Presentation: ROGG is Norway’s 2nd largest savings bank. The bank’s market area are Rogaland, Agder and Hordaland, and the bank 50 has currently 52 branch off. in Stavanger in its market area and 200 000 0 Period customers. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000009 Total Interest Income 540 000 552 000 580 000 613 000 638 000 691 000 774 000 673 000 Round Lot 50,00 Total Interest Expenses 259 000 270 000 297 000 337 000 370 000 412 000 491 000 331 000 Reg.Share Capital (mill)1 130 729,25 Net Interest Income 281 000 282 000 283 000 276 000 268 000 279 000 283 000 342 000 Number of Shares 22 614,59 Other Income 176 000 255 000 242 000 252 000 257 000 262 000 225 000 (null) Currency NOK Depreciations (null) 11 000 (null) (null) (null) (null) (null) (null) Gics PCC Pre Tax Profit 223 000 275 000 314 000 293 000 251 000 263 000 255 000 392 000 Listed From 02-05-94 Tax (null) 11 000 (null) (null) (null) (null) (null) (null) Par Value 50,00 Net Income 167 000 219 000 248 000 229 000 200 000 203 000 193 000 318 000 Number of days traded 251 Avg. Trades pr Day 29,77 Net Loans 55 213 000 57 288 000 58 417 000 61 810 000 63 531 000 65 413 000 69 838 000 77 059 000 Other Assets 5 443 000 6 732 000 7 385 000 5 358 000 6 355 000 7 367 000 7 589 000 713 000 Key Figures 2006 Total Assets 60 656 000 64 020 000 65 802 000 67 168 000 69 886 000 72 780 000 77 427 000 85 035 000 (Preliminary figures) To Depoits from Customers 37 828 000 40 581 000 36 980 000 37 530 000 43 245 000 41 444 000 43 101 000 42 547 000 Other Liabilities 16 949 000 17 353 000 22 788 000 23 472 000 20 639 000 25 258 000 27 999 000 3 111 000 Net Interest Income 1 069 000 Total Subordinated Loans 2 589 000 2 572 000 2 283 000 2 336 000 2 305 000 2 183 000 2 255 000 2 992 000 Other Income (null) Total Equity 3 290 000 3 514 000 3 751 000 3 830 000 3 697 000 3 895 000 4 072 000 4 300 000 Depreciations (null) Total Liability and Equity 60 656 000 64 020 000 65 802 000 67 168 000 69 886 000 72 780 000 77 427 000 85 035 000 Pre Tax Profit 1 161 000 Tax (null) Net Income 914 000 ROE 11,37

Rygge Vaaler Sparebank Share Price 200 Ticker: RVSBG 160 120 80 Company Presentation: Rygge-Vaaler Sparebank is an independent regional savings bank. Head office is located at Moss. The bank is today the dominant 40 savings bank in Østfold, and markets itself under the name SpareBank 1. 0 Period Nov 05 May 06 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0010285562 Total Interest Income 71 135 78 235 84 678 90 669 99 768 Round Lot 50,00 Total Interest Expenses 29 831 38 660 41 895 47 205 52 405 Reg.Share Capital (mill)1 47 260,00 Net Interest Income 41 304 39 575 42 783 43 464 47 363 Number of Shares 1 472,60 Other Income -80 18 688 26 068 -26 263 Currency NOK Depreciations 997 1 269 1 088 1 173 1 159 Gics PCC Pre Tax Profit 28 093 29 556 31 380 36 375 13 996 Listed From 01-11-05 Tax 997 1 269 1 088 1 173 1 159 Par Value 100,00 Net Income 18 985 20 479 22 519 26 374 11 881 Number of days traded 161 Avg. Trades pr Day 3,14 Net Loans 6 864 960 7 348 956 7 774 789 8 121 218 8 520 242 Other Assets 857 113 644 072 624 004 418 654 25 168 Key Figures 2006 Total Assets 7 722 073 7 993 028 8 398 793 8 539 872 9 023 352 (Preliminary figures) To Depoits from Customers 4 442 089 4 161 541 4 647 661 4 786 104 4 535 926 Other Liabilities 2 714 092 3 093 106 2 993 248 2 957 986 91 411 Net Interest Income 173 185 Total Subordinated Loans 0 0 0 0 0 Other Income 294 Total Equity 565 892 738 381 757 884 795 782 810 908 Depreciations 4 689 Total Liability and Equity 7 722 073 7 993 028 8 398 793 8 539 872 9 023 352 Pre Tax Profit 109 291 Tax 4 689 Net Income 79 237 ROE 5,13

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 182 Sandnes Sparebank Share Price 250 Ticker: SADG 200 150 100 Company Presentation: Sandnes Sparebank is one of the leading banks in the Rogaland district. The bank offers traditional banking products as 50 well as consulting and corporate finance services and has approximately 0 Period 50,000 customers. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006001007 Total Interest Income 200 305 420 903 240 090 269 171 297 945 616 382 352 434 391 841 Round Lot 50,00 Total Interest Expenses 125 232 264 199 157 914 183 500 208 964 432 953 253 411 283 555 Reg.Share Capital (mill) 520 000,00 Net Interest Income 75 073 156 704 82 176 85 671 88 981 183 429 99 023 108 286 Number of Shares 5 200,00 Other Income 17 302 58 351 31 437 47 777 37 245 63 823 37 847 15 519 Currency NOK Depreciations 2 912 7 228 5 315 4 036 2 923 5 449 2 474 8 814 Gics PCC Pre Tax Profit 43 170 113 451 53 560 70 724 59 506 118 278 64 436 85 343 Listed From 27-10-95 Tax 2 912 7 228 5 315 4 036 2 923 5 449 2 474 8 814 Par Value 100,00 Net Income 31 370 90 337 36 360 56 452 42 490 85 050 46 362 60 181 Number of days traded 198 Avg. Trades pr Day 3,91 Net Loans 19 239 901 16 470 737 16 776 487 18 362 653 18 014 439 18 423 701 19 874 134 21 386 856 Other Assets 1 715 069 2 418 939 2 805 604 2 000 645 3 226 549 2 248 142 2 664 682 5 987 Key Figures 2006 Total Assets 20 954 970 18 889 676 19 582 091 20 363 298 21 240 988 20 671 843 22 538 816 26 032 608 (Preliminary figures) To Depoits from Customers 12 344 472 9 385 591 10 459 847 11 450 903 11 425 282 9 597 666 12 577 867 10 631 181 Other Liabilities 6 966 203 7 813 159 7 382 875 7 117 089 8 080 287 9 201 253 8 038 842 134 067 Net Interest Income 390 738 Total Subordinated Loans 521 764 508 372 524 747 522 842 519 180 614 128 616 288 (null) Other Income 49 041 Total Equity 1 122 532 1 182 554 1 214 622 1 272 464 1 216 236 1 258 795 1 305 814 1 366 041 Depreciations 16 737 Total Liability and Equity 20 954 971 18 889 676 19 582 091 20 363 298 21 240 985 20 671 842 22 538 811 26 032 608 Pre Tax Profit 268 057 Tax 16 737 Net Income 191 534 ROE 7,27

Sandsvær Sparebank Share Price 250 Ticker: SANG 200 150 Company Presentation: Sandsvær Sparebank is the leading savings bank 100 in the Kongsberg district. In addition the bank has about 30% of its business 50 activities in the Drammen region. Sandsvær Sparebank is affiliated to the Period Sparebank 1 group 0 Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000108 Total Interest Income 61 826 66 129 71 514 76 470 80 130 85 223 93 006 99 933 Round Lot 50,00 Total Interest Expenses 31 409 33 600 38 180 41 356 46 134 51 551 58 476 64 869 Reg.Share Capital (mill)1 01 545,00 Net Interest Income 30 417 32 529 33 334 35 114 33 996 33 672 34 530 35 064 Number of Shares 1 015,45 Other Income 24 294 18 863 29 393 33 349 25 476 21 202 25 476 5 351 Currency NOK Depreciations (null) 1 476 1 509 (null) 1 395 (null) 1 365 (null) Gics PCC Pre Tax Profit 25 911 19 612 31 872 33 659 27 255 24 400 6 377 24 083 Listed From 20-06-89 Tax (null) 1 476 1 509 (null) 1 395 (null) 1 365 (null) Par Value 100,00 Net Income 19 404 14 471 23 988 26 864 20 561 16 463 5 214 16 517 Number of days traded 92 Avg. Trades pr Day 1,88 Net Loans 5 866 529 6 290 115 6 694 698 7 245 527 7 344 723 7 797 256 8 058 837 8 150 537 Other Assets 649 709 693 205 736 569 482 826 1 182 310 811 487 870 904 44 114 Key Figures 2006 Total Assets 6 516 238 6 983 320 7 431 267 7 728 353 8 527 033 8 608 743 8 929 741 8 887 074 (Preliminary figures) To Depoits from Customers 3 370 942 3 446 351 3 330 970 3 652 141 0 4 097 407 4 234 895 3 888 493 Other Liabilities 2 474 958 2 853 443 3 345 395 3 386 643 7 839 834 3 809 431 3 981 186 35 126 Net Interest Income 137 262 Total Subordinated Loans 249 000 249 000 299 000 210 000 210 000 210 000 210 000 210 000 Other Income 13 311 Total Equity 421 338 434 526 455 902 479 569 477 199 491 905 503 660 539 287 Depreciations (null) Total Liability and Equity 6 516 238 6 983 320 7 431 267 7 728 353 8 527 033 8 608 743 8 929 741 8 887 074 Pre Tax Profit 82 114 Tax (null) Net Income 58 754 ROE 5,84

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 183 Sparebanken Øst Share Price 300 250 Ticker: SPOG 200 150 Company Presentation: Sparebanken Øst (est. 1843) is one of Norway’s 100 largest independent savings banks. The group includes AS Financiering, Oslo. 50 0 Period Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006222009 Total Interest Income 189 600 186 700 191 000 188 300 192 100 396 200 216 300 234 400 Round Lot 50,00 Total Interest Expenses 91 200 93 600 99 200 108 500 110 400 230 000 133 600 153 900 Reg.Share Capital (mill) 363 679,50 Net Interest Income 98 400 93 100 91 800 79 800 81 700 166 200 82 700 80 500 Number of Shares 3 636,80 Other Income 190 900 32 400 27 600 28 000 23 400 45 400 26 800 9 300 Currency NOK Depreciations 4 400 4 400 4 400 3 800 4 100 8 300 4 000 3 600 Gics PCC Pre Tax Profit 223 500 59 400 59 700 25 100 33 500 73 800 37 400 20 800 Listed From 22-02-89 Tax 4 400 4 400 4 400 3 800 4 100 8 300 4 000 3 600 Par Value 100,00 Net Income 208 000 42 100 42 000 19 100 24 900 53 500 25 200 16 400 Number of days traded 214 Avg. Trades pr Day 4,71 Net Loans 12 195 900 12 397 900 12 613 200 13 483 400 13 353 200 13 651 400 14 057 700 15 085 200 Other Assets 6 878 600 7 092 700 6 783 700 5 580 500 6 386 300 6 026 400 6 002 900 125 400 Key Figures 2006 Total Assets 19 074 500 19 490 600 19 396 900 19 063 900 19 739 500 19 677 800 20 060 600 21 335 100 (Preliminary figures) To Depoits from Customers 10 029 800 10 125 400 10 159 400 9 748 300 8 864 500 9 163 900 9 153 100 6 266 600 Other Liabilities 6 947 600 7 221 700 7 051 800 7 316 500 8 851 000 8 497 700 8 868 700 249 700 Net Interest Income 329 400 Total Subordinated Loans 794 900 795 100 795 300 655 100 655 100 655 000 657 400 657 500 Other Income 36 700 Total Equity 1 302 200 1 348 400 1 390 400 1 344 000 1 368 900 1 361 200 1 381 400 1 427 800 Depreciations 15 900 Total Liability and Equity 19 074 500 19 490 600 19 396 900 19 063 900 19 739 500 19 677 800 20 060 600 21 335 100 Pre Tax Profit 132 000 Tax 15 900 Net Income 95 100 ROE 3,43

Sparebanken Vest Share Price 250 Ticker: SVEG 200 150

Company Presentation: Sparebanken Vest is the one of the largest and 100 oldest savings banks in Norway with NOK 65,2 billion under management 50 and 750 employees. The head office is located in Bergen. The bank offers 0 Period products and services to the private, public and corporate markets through Jan 05 Dec 05 Dec 06 58 branch offices.

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000900 Total Interest Income 439 000 460 000 458 000 497 000 520 000 557 000 607 000 656 000 Round Lot 50,00 Total Interest Expenses 200 000 220 000 211 000 251 000 268 000 300 000 342 000 388 000 Reg.Share Capital (mill) 250 000,00 Net Interest Income 239 000 240 000 247 000 246 000 252 000 257 000 265 000 268 000 Number of Shares 2 500,00 Other Income 97 000 130 000 127 000 120 000 153 000 137 000 166 000 168 000 Currency NOK Depreciations 13 000 16 000 15 000 15 000 15 000 17 000 16 000 15 000 Gics PCC Pre Tax Profit 142 000 147 000 212 000 142 000 210 000 181 000 228 000 184 000 Listed From 04-01-95 Tax 13 000 16 000 15 000 15 000 15 000 17 000 16 000 47 000 Par Value 100,00 Net Income 101 000 105 000 150 000 111 000 152 000 141 000 173 000 137 000 Number of days traded 175 Avg. Trades pr Day 3,41 Net Loans 42 424 000 43 900 000 45 068 000 46 565 000 48 902 000 49 684 000 51 542 000 53 451 000 Other Assets 6 538 000 6 761 000 7 670 000 8 073 000 4 938 000 5 972 000 6 097 000 6 760 000 Key Figures 2006 Total Assets 48 962 000 50 661 000 52 738 000 54 638 000 53 840 000 55 656 000 57 639 000 60 211 000 (Preliminary figures) To Depoits from Customers 25 936 000 27 280 000 27 627 000 27 333 000 27 895 000 29 174 000 30 515 000 32 338 000 Other Liabilities 19 155 000 19 333 000 20 830 000 23 134 000 21 727 000 22 179 000 22 588 000 23 359 000 Net Interest Income 1 042 000 Total Subordinated Loans 1 093 000 1 118 000 1 155 000 934 000 886 000 830 000 890 000 716 000 Other Income 624 000 Total Equity 2 778 000 2 930 000 3 126 000 3 237 000 3 332 000 3 472 000 3 646 000 3 798 000 Depreciations 63 000 Total Liability and Equity 48 962 000 50 661 000 52 738 000 54 638 000 53 840 000 55 655 000 57 639 000 60 211 000 Pre Tax Profit 803 000 Tax 63 000 Net Income 603 000 ROE 5,68

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 184 Totens Sparebank Share Price 250 Ticker: TOTG 200 150

Company Presentation: Totens Sparebank is an independent savings bank 100 founded in 1854. The bank’s main market areas are Toten and Gjøvik and 50 it offers a full service range of services. Totens Sparebank is affiliated in 0 Period Terra-Gruppen. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006001205 Total Interest Income 65 985 68 911 73 095 79 812 80 938 83 696 90 947 101 871 Round Lot 50,00 Total Interest Expenses 29 261 32 508 35 625 39 784 43 021 46 007 52 487 60 643 Reg.Share Capital (mill) 225 000,00 Net Interest Income 36 724 36 403 37 470 40 028 37 917 37 689 38 460 41 228 Number of Shares 2 250,00 Other Income 11 182 22 061 17 378 16 313 11 536 23 145 16 604 15 250 Currency NOK Depreciations 1 111 1 227 1 537 1 411 1 983 1 953 1 937 2 048 Gics PCC Pre Tax Profit 16 041 23 596 25 042 19 037 19 745 27 274 18 709 26 355 Listed From 18-12-95 Tax 1 111 1 227 1 537 1 411 1 983 1 953 1 937 2 048 Par Value 100,00 Net Income 12 164 17 697 18 750 14 993 15 072 22 307 13 292 17 638 Number of days traded 183 Avg. Trades pr Day 3,26 Net Loans 6 101 709 6 463 160 6 726 783 6 967 206 7 072 446 7 287 170 7 602 942 7 915 101 Other Assets 828 338 1 153 616 (null) 1 046 917 1 001 063 984 232 (null) 954 332 Key Figures 2006 Total Assets 6 930 047 7 616 776 7 560 839 8 014 123 8 073 509 8 271 402 8 653 821 8 869 433 (Preliminary figures) To Depoits from Customers 3 847 387 4 079 704 4 092 535 3 687 526 4 311 301 4 503 064 4 436 114 4 546 443 Other Liabilities 2 517 030 2 961 644 2 803 636 3 644 108 3 105 163 3 088 139 3 520 557 3 595 948 Net Interest Income (null) Total Subordinated Loans 173 746 173 815 248 419 248 510 248 603 248 696 248 789 298 134 Other Income (null) Total Equity 391 885 401 613 416 249 433 978 408 441 431 504 447 925 428 907 Depreciations (null) Total Liability and Equity 6 930 048 7 616 776 7 560 839 8 014 122 8 073 508 8 271 403 8 653 385 8 869 432 Pre Tax Profit (null) Tax (null) Net Income (null) ROE (null)

Sparebanken Vestfold Share Price 250 Ticker: VSBG 200 150

Company Presentation: Sparebanken Vestfold is an independent savings bank 100 affiliated in Sparebank 1 Gruppen. The head office is located in Sandefjord. 50 Target customers are within the private market and small/mid sized 0 Period corporations. Jan 05 Dec 05 Dec 06

2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share details (31.12.2006) (All figures are in NOK ‘ 000) Isin NO0006000207 Total Interest Income 71 906 74 848 76 558 80 693 84 899 91 552 98 325 108 054 Round Lot 50,00 Total Interest Expenses 29 932 31 733 35 289 39 176 44 753 50 319 55 977 64 678 Reg.Share Capital (mill) 126 655,00 Net Interest Income 41 974 43 115 41 269 41 517 40 146 41 233 42 348 43 376 Number of Shares 1 266,55 Other Income 19 549 24 457 13 477 13 919 16 057 21 262 12 397 15 592 Currency NOK Depreciations 2 081 2 117 2 125 2 145 2 131 2 232 2 118 2 094 Gics PCC Pre Tax Profit 26 597 26 361 24 389 26 814 19 543 24 713 27 444 24 565 Listed From 27-05-94 Tax 2 081 2 117 2 125 2 145 2 131 2 232 2 118 2 094 Par Value 100,00 Net Income 18 622 17 155 18 879 19 947 13 469 17 491 19 494 16 816 Number of days traded 89 Avg. Trades pr Day 1,79 Net Loans 6 930 476 7 122 089 7 257 210 7 737 926 7 884 233 8 145 837 8 503 627 8 763 381 Other Assets 802 628 990 208 826 052 654 433 825 797 1 392 280 696 940 933 910 Key Figures 2006 Total Assets 7 733 104 8 112 297 8 083 262 8 392 359 8 710 030 9 538 117 9 200 567 9 697 291 (Preliminary figures) To Depoits from Customers 4 136 688 4 424 352 4 531 310 4 309 982 4 621 353 5 002 077 0 4 876 114 Other Liabilities 2 847 338 2 924 628 2 760 998 3 240 046 3 219 545 3 648 732 8 258 979 4 064 558 Net Interest Income 168 409 Total Subordinated Loans 223 747 223 791 223 836 302 120 302 164 302 209 177 240 177 271 Other Income 32 955 Total Equity 525 332 539 526 567 118 540 211 566 968 585 099 593 997 579 348 Depreciations 8 620 Total Liability and Equity 7 733 105 8 112 297 8 083 262 8 392 359 8 710 030 9 538 117 9 200 567 9 697 291 Pre Tax Profit 96 332 Tax 8 620 Net Income 67 971 ROE 5,55

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 185

Index GUIDE TO THE NORWEGIAN STOCK MARKET | Page 188 Index

Security Name GICS - Sector Page ABG ABG Sundal Collier Financials 133 Acergy Energy 32 Acta Holding Financials 132 Adresseavisen Consumer Discretionary 110 AF Gruppen Industrials 78 AGR Group Energy 33 Aker Energy 34 Aker American Shipping Industrials 78 Aker Drilling Energy 33 Aker Floating Production Energy 34 Aker Kværner Energy 36 Aker Seafoods Consumer Staples 114 Aker Yards Industrials 79 Aktiv Kapital Financials 132 AKVA Group Industrials 79 Altinex Energy 36 APL Energy 37 Apptix Information Technology 144 Arendals Fossekompani Utilities 170 Artumas Group Energy 32 Aurskog Sparebank Primary Capital Certificates 176 Austevoll Seafood Consumer Staples 114 Awilco Offshore Energy 37 Axis-Shield Health Care 122 B+H Ocean Carriers Industrials 80 Belships Industrials 80 Biotec Pharmacon Health Care 122 Birdstep Technology Information Technology 144 Bjørge Energy 38 Block Watne Gruppen Consumer Discretionary 104 Blom Industrials 81 Bluewater Insurance Financials 133 Bonheur Energy 38 Borgestad Industrials 81 BW Gas Energy 46 BW Offshore Limited Energy 39 Byggma Materials 70 Camillo Eitzen & Co Industrials 82 CanArgo Energy Corporation Energy 39 Captura Information Technology 145 Cermaq Consumer Staples 115 Clavis Pharma Health Care 123 Codfarmers Consumer Staples 115 Component Software Group Financials 134 Confirmit Information Technology 146 Conseptor Consumer Discretionary 104 Consorte Group Information Technology 145 ContextVision Health Care 123 CorrOcean Energy 40 Crew Gold Corporation Materials 70 Data Respons Information Technology 146 Deep Sea Supply Energy 42

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 189 Security Name GICS - Sector Page DeepOcean Energy 40 DiaGenic Health Care 124 DnB NOR Financials 134 DNO Energy 42 DOF Energy 43 DOF Subsea Energy 43 Dolphin Interconnect Solutions Information Technology 148 Domstein Consumer Staples 116 DynaPel Systems Information Technology 148 Eastern Drilling Energy 44 EDB Business Partner Information Technology 149 Eidesvik Offshore Energy 44 Eidsiva Rederi Industrials 83 Eitzen Chemical Industrials 82 Eitzen Maritime Services Industrials 83 Ekornes Consumer Discretionary 105 Eltek Information Technology 149 Ementor Information Technology 150 Exense Information Technology 150 Expert Consumer Discretionary 105 Fairmount Heavy Transport Industrials 84 Faktor Eiendom Financials 135 Fara Information Technology 151 Farstad Shipping Energy 45 Fast Search & Transfer Information Technology 151 Fesil Materials 71 Fosen Trafikklag Industrials 84 Fred. Olsen Energy Energy 45 Frontline Energy 46 Funcom Information Technology 152 Ganger Rolf Energy 48 GC Rieber Shipping Energy 57 Global Geo Services Energy 47 Golar LNG Energy 48 Golden Ocean Group Industrials 85 Goodtech Industrials 85 Green Reefers Industrials 86 Grenland Group Energy 47 Gyldendal Consumer Discretionary 106 Hafslund ser. A Utilities 170 Hafslund ser. B Utilities 172 Havila Shipping Energy 49 Helgeland Sparebank Primary Capital Certificates 176 Hexagon Composites Industrials 86 Hjellegjerde Consumer Discretionary 106 Hol Sparebank Primary Capital Certificates 177 Hurtigruten Consumer Discretionary 107 Høland Sparebank Primary Capital Certificates 177 I.M. Skaugen Energy 49 Ignis Information Technology 152 IMAREX NOS Financials 135 Indre Sogn Sparebank Primary Capital Certificates 178 Inmeta Information Technology 153 Int. Gold Exploration Materials 71 InterOil Exploration and Production Energy 50 Itera Consulting Group Information Technology 153 Jinhui Shipping and Transportation Industrials 87 Kitron Information Technology 154 Komplett Information Technology 154

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 190 Security Name GICS - Sector Page Kongsberg Automotive Holding Consumer Discretionary 107 Kongsberg Gruppen Industrials 87 Kverneland Industrials 88 Lerøy Seafood Group Consumer Staples 116 Luxo Industrials 88 Mamut Information Technology 155 Marine Farms Consumer Staples 117 Marine Harvest Consumer Staples 117 Media & Research Group Consumer Discretionary 108 MediCult Health Care 124 Medi-Stim Health Care 125 Melhus Sparebank Primary Capital Certificates 178 Namsos Trafikkselskap Industrials 89 Natural Health Care 126 Navamedic Health Care 125 Nes Prestegjeld Sparebank Primary Capital Certificates 180 NorDiag Health Care 126 Nordic Semiconductor Information Technology 155 Norgani Hotels Financials 136 Norman Information Technology 156 Norse Energy Corp. Energy 51 Norsk Hydro Energy 51 Norsk Vekst Financials 136 Norske Skogindustrier Materials 72 Northland Resources Materials 72 Norwegian Air Shuttle Industrials 89 Norwegian Property Financials 138 Nutri Pharma Health Care 127 Ocean Rig Energy 52 Odfjell ser. A Industrials 90 Odfjell ser. B Industrials 90 Odfjell Invest Energy 52 Odim Industrials 91 Olav Thon Eiendomsselskap Financials 138 Opera Software Information Technology 156 Orkla Industrials 91 Otrum Information Technology 157 PA Resources Energy 53 Pertra Energy 54 Petrobank Energy and Resources Energy 53 Petrojack Energy 50 Petroleum Geo-Services Energy 55 Petrolia Drilling Energy 54 Photocure Health Care 127 Polimoon Materials 74 Powel Information Technology 157 Profdoc Health Care 128 Prosafe Energy 55 PSI Group Information Technology 158 Q-Free Information Technology 158 Questerre Energy Corporation Energy 56 Renewable Energy Corporation Information Technology 159 Reservoir Exploration Technology Energy 58 Revus Energy Energy 56 Rieber & Søn Consumer Staples 118 Ringerikes Sparebank Primary Capital Certificates 181 Rocksource Energy 57 Royal Caribbean Cruises Consumer Discretionary 108 Rygge Vaaler Sparebank Primary Capital Certificates 182

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 191 Security Name GICS - Sector Page Sandnes Sparebank Primary Capital Certificates 183 Sandsvær Sparebank Primary Capital Certificates 183 SAS Group Industrials 92 Scana Industrier Energy 59 Schibsted Consumer Discretionary 109 Scorpion Offshore Energy 59 SeaBird Exploration Energy 58 Seadrill Energy 60 Sevan Marine Energy 60 Siem Offshore Energy 61 Simrad Optronics Industrials 92 Sinvest Energy 61 Skiens Aktiemølle Financials 139 Software Innovation Information Technology 159 Solstad Offshore Energy 62 Solvang Industrials 93 Songa Offshore Energy 62 Sparebank 1 SR-Bank Primary Capital Certificates 182 Sparebanken Midt-Norge Primary Capital Certificates 179 Sparebanken Møre Primary Capital Certificates 179 Sparebanken Nord-Norge Primary Capital Certificates 180 Sparebanken Pluss Primary Capital Certificates 181 Sparebanken Vest Primary Capital Certificates 184 Sparebanken Vestfold Primary Capital Certificates 185 Sparebanken øst Primary Capital Certificates 184 Spits Consumer Discretionary 109 Star Reefers Inc. Industrials 94 Statoil Energy 63 Stavanger Aftenblad Consumer Discretionary 110 Steen & Strøm Financials 139 Stepstone Industrials 94 Stolt-Nielsen Industrials 93 Storebrand Financials 140 Subsea 7 Energy 63 SuperOffice Information Technology 160 Synnøve Finden Consumer Staples 118 Tandberg Information Technology 163 Tandberg Data Information Technology 160 Tandberg Storage Information Technology 162 Tandberg Television Information Technology 161 Teco Coating Services Industrials 95 Teekay Petrojarl Energy 64 TeleComputing Information Technology 161 Telenor Telecommunication Services 168 Telio Holding Telecommunication Services 168 TGS-NOPEC Geophysical Company Energy 64 Tide Industrials 95 Tomra Systems Industrials 96 Totens Sparebank Primary Capital Certificates 185 Trefoil Energy 65 Trolltech Information Technology 162 TTS Marine Industrials 96 Veidekke Industrials 98 Vizrt Information Technology 163 VMetro Information Technology 164 Voss Veksel- og Landmandsbank Financials 140 Wilh. Wilhelmsen ser. A Industrials 99 Wilh. Wilhelmsen ser. B Industrials 99 Wilson Industrials 98 Yara International Materials 74

GUIDE TO THE NORWEGIAN STOCK MARKET | Page 192 The future is traded now GUIDE TO THE NORWEGIAN STOCK MARKET | Page 194 Design: Dinamo Red. • Foto: Getty Images og Christian Houge • Trykk: Kampen Grafisk et es ates esentations ogy etionary es ation Servic echnol e ee o – Sector pr ommunic Tw gy x c ormation T le Utilities Primary Capital Certific Part Thr Inde Part One About the Norwegian stock mark Te Part Ener Materials Industrials Consumer Discr Consumer Stapl Health Car Financials Inf

187 3 29 GUIDE TO THE NORWEGIAN ST OCK MARKET 2007

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