Det Norske V Content eritas annual report 2004 DNV in brief 02 President’s introduction 04 Report of the Board of Directors 06

BUSINESS AREAS 00 DNV Maritime 14 DNV Certification 18 DNV Technology Services 22 DNV Consulting 26

DNV annual report 2004 CORPORATE 00 Information Technology 30 DNV Research 32 The DNV people 36 Safety, Health, and the Environment 40 Det Norske Veritas Corporate Social Responsibility 42 Red Cross partnership 44

Council, Board of Directors, Committees 46 Management teams and senior managers 50

FINANCIAL 00 Financial review 51 Notes to the financial statements 57 Auditor’s report 66

Global Reporting Initiative index 70 Det Norske V Content eritas annual report 2004 DNV in brief 02 President’s introduction 04 Report of the Board of Directors 06

BUSINESS AREAS 00 DNV Maritime 14 DNV Certification 18 DNV Technology Services 22 DNV Consulting 26

DNV annual report 2004 CORPORATE 00 Information Technology 30 DNV Research 32 The DNV people 36 Safety, Health, and the Environment 40 Det Norske Veritas Corporate Social Responsibility 42 Red Cross partnership 44

Council, Board of Directors, Committees 46 Management teams and senior managers 50

FINANCIAL 00 Financial review 51 Notes to the financial statements 57 Auditor’s report 66

Global Reporting Initiative index 70 Highlights

Highlights from 2004

The international community’s focus on risk and the increasing tendency towards zero tolerance of STATUS accidents has resulted in a high level of demand for safety and quality services, which are DNV’s core areas. With the objective of safeguarding life, property, and the environment, 2004 was a year of considerable activity in all DNV’s four business areas; DNV Maritime, DNV Certification, DNV Technology Services and DNV Consulting.

DNV MARITIME DNV TECHNOLOGY SERVICES The total DNV-classed fleet: DNV-classed rigs: 5,083 ships and offshore installations (5,100 in 2003), 158 offshore installations (147 in 2003), including mobile rigs, 16,6 per cent of the world fleet (16,4 percent in 2003). jack-ups, floating production ships and drill ships, representing 17 per cent of the total number of units. DNV CERTIFICATION ISO 9001: 39,634 certificates DNV CONSULTING ISO 14001: 6,033 certificates High level of impact on client's business performance Other certificates: 12,767 in delivering DNV's objective. Total certificates: 58,434 (45,542 in 2003).

Det Norske Veritas

DNV Maritime DNV Certification DNV Technology Services DNV Consulting

Head office Main support and service centres Local offices 6,200 people in 300 offices in 100 countries.

MILESTONES KEY FIGURES

26 MARCH 13 SEPTEMBER DNV was the first company to be accredited by the UN DNV Research celebrated its 50th anniversary. Operating revenue Profit for the year Framework Convention on Climate Change to validate 99 99 climate change mitigation projects where companies in 00 00 industrialised countries invest in greenhouse gas abatement 1 OCTOBER 01 01 in the developing world (CDM projects). DNV Certification launched Risk Based Certification™, 02 02 its exclusive approach to all management system certification. 03 03 1 APRIL 04 04 DNV passed the 100 million-gross tons mark by taking Danaos Shipping’s container ship P&O Nedlloyd Caracas into 4 DECEMBER > Operating revenue for the > Profit for the year 2004 class on delivery from Korea’s Samsung Heavy Industry yard. DNV celebrated its 140th anniversary. year 2004 NOK 5,957 million NOK 148 million Highlights

Highlights from 2004

The international community’s focus on risk and the increasing tendency towards zero tolerance of STATUS accidents has resulted in a high level of demand for safety and quality services, which are DNV’s core areas. With the objective of safeguarding life, property, and the environment, 2004 was a year of considerable activity in all DNV’s four business areas; DNV Maritime, DNV Certification, DNV Technology Services and DNV Consulting.

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