Prospectus approved

Bullet

Stavanger, 20 December 2010, Norwegian Energy Company ASA (Noreco): The Financial Supervisory Authority of Norway, as control authority, has received and approved a prospectus for Norwegian Energy Company ASA, NORECO ASA 10/13 FRN C, ISIN NO0010592306.

Joint Lead Managers: Pareto Securities, DnB NOR Markets, SEB, First Securities

The prospectus is available on http://www.noreco.com and http://www.pareto.no.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)