Hydro expands aluminium extrusion operations in South America.

Norsk Hydro, the Norwegian oil and energy, light metals and plant nutrition group, today announced that it has entered into an agreement to purchase all shares in Aldural SA in Pilar, in the State of Buenos Aires, Argentina, from its private owners. Final approval of the transaction is required from the anti-trust regulatory authorities. The present Executive Directors of Aldural, Jorge Cardenes and Hector Canete, will continue to manage the business.

Aldural is a leading extruder in Argentina with around 9% market share. It is a one-press operation and has a second press on order, which will be in production during the second half of 2001 and the investment of which will be paid by Hydro.

Hydro Aluminium Extrusion, the second-biggest soft alloy aluminium extruder worldwide, is a division of the Light Metals Business Area of Norsk Hydro ASA, the biggest industrial company in Norway.

'We are very pleased that Aldural joins our group of worldwide operations,' says Jean-Claude Raimondi, President of Hydro Aluminium Extrusion, 'and we are confident that the combination of the good market position of Aldural in Argentina with the expertise we have available in Brazil and from other Hydro sources will create a leading extrusion business in South America, contributing substantially to the promotion of aluminium extrusion applications and the growth of this market in Argentina.'

For further information on Hydro Aluminium Extrusion, its parent organisation and its companies, see its internet site: www.aluminium-extrusion.hydro.com.

For further information on Aldural see its internet site: www.aldural.com

Contact person at Hydro Aluminium Extrusion headquarters in Lausanne, Switzerland:

Henner Meckel, Director Market Communications
Tel.: +41-21-621 8383 Fax: +41-21-621 8343
E-mail: henner.meckel@hydro.com