Shipping loans

DnB NOR is aware that there are rumours and claims in the market concerning the
quality of the bank's portfolio of shipping loans. 
 
DnB NOR has a global shipping portfolio consisting of loans to the leading
industrial players in this industry. These clients are characterised by
extensive resources, a high level of fixed contracts on their vessels, strong
equity and healthy liquid reserves. 
 
The credit quality of DnB NOR's shipping portfolio, measured in terms of
expected losses, is better than the average for the overall corporate market
portfolio. 
 
In order to give the market further insight into the situation, a web meeting
will be held for investors and analysts on Monday, 24 November 2008 at 2:00 pm
CET, where senior executives in the Shipping Division will answer questions
sent in related to the portfolio. A presentation will be available on the
Group's web page dnbnor.com no later than 12 noon CET on Friday, 21 November to
provide background information prior to the meeting. At the same time, details
regarding the web meeting will also be presented. 
 
DnB NOR would like to emphasise, in line with what was communicated in the
report for the third quarter of 2008, that the bank is well capitalised and
that the Group's plan for strengthening core capital remains unchanged. The
plan is based on the assumption that no share issue will be required. 
 
 
For further information, please contact:
 
Bjørn Erik Næss, CFO
Per Sagbakken, executive vice president, IR/Long-term Funding
Trond Bentestuen, group executive vice president, Corporate Communications