NOR02: Noreco exercises right to 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 NOR02 (NO 001037907.6).

NOR01 totaling NOK 400 million was called according to the loan agreement at 103% of par value. NOR01 (NO 001037906.8) was called simultaneously with NOR02.
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)