Sale of Eksportfinans' subsidiary Kommunekreditt Norge AS to Kommunal Landspensjonskasse (KLP)

Eksportfinans is pleased to announce that the process for selling
Eksportfinans' wholly owned subsidiary Kommunekreditt Norge AS to KLP has been
finalized, pending necessary government authorizations and other closing
conditions. Eksportfinans considers this to be a very good solution for the
local government sector in Norway, as well as for the employees of
Kommunekreditt. 

The shares were sold at book value on March 31, 2008, which was NOK 870
million. Pursuant to the agreement with KLP, Eksportfinans will retain
approximately NOK 11 billion of loans lent by Kommunekreditt. In addition
Eksportfinans will provide funding to KLP for the remainder of Kommunekreditt's
loan portfolio for a period of two years on agreed terms. 

Kommunekreditt provides loans to the Norwegian local government sector in a
broad sense. Eksportfinans took over the company from Kreditkassen in 1999, at
which time the loan portfolio was around NOK 5 billion. With a strategy to
become an important financing partner for the local government sector, the
lending balance increased significantly every year until 2008. By spring 2008,
the company's lending portfolio reached a peak of around NOK 70 billion.
President and CEO of Eksportfinans, Gisele Marchand comments: “ In the decade
that Kommunekreditt has been owned by Eksportfinans it has made an important
contribution to development and welfare through the financing of a number of
projects in areas such as infrastructure, schools, child care facilities,
nursing homes, roads, bridges, ports and water supply.” 

Eksportfinans' reason for selling Kommunekreditt is to ensure that
Kommunekreditt can continue to be an attractive financial partner for its
clients, also in the current demanding financial markets. ”As a consequence of
the global financial crisis it has been challenging for Eksportfinans to obtain
sufficient competitive, long term funding to enable Kommunekreditt to grow and
develop further since the autumn of 2008. In Eksportfinans opinion KLP is well
positioned to be a strategic, long term owner of Kommunekreditt”, says Gisele
Marchand. 

Through this agreement Eksportfinans will enhance its capacity to finance the
Norwegian export industry. This will be the company's core business going
forward. 

Pareto has assisted Eksportfinans in the sales process. 

More information is available on www.eksportfinans.no. 

Contacts:
President and CEO Gisele Marchand, ph 22 01 22 01, mail gma@eksportfinans.no
EVP Director of staff /communications Elise Lindbæk, tlf 90 51 82 50, 
mail el@eksportfinans.no