NOR01: Noreco exercises right o call entire outstanding bond


Stavanger, 30 November, 2009: Norwegian Energy Company ASA ("Noreco" or "the Company" - OSE:NOR) has today completed the early repayment of all outstanding bonds in NOR01 (NO 001037906.8).

NOR01 totaling NOK 1,840 million was called according to the loan agreement at 103% of par value. NOR02 (NO 001037907.6) was called simultaneously with NOR01.
The outstanding bonds have today been repaid at the call price.
Einar Gjelsvik, Vice President Strategy & IR (+47 99 28 38 56)
Jan Nagell, CFO (+47 99 49 72 71)