Oslo, November 4, 2004

As a result of the change in strategic focus announced in NUT`s Q3 report, the Board of Directors and CEO Eirik Ubøe have agreed that Ubøe is to leave is position as CEO of NUT. Ubøe has agreed to make himself available for NUT in an advisory capacity, initially until the end of 2004.

Trond Syvertsen has been appointed Chief Executive Officer of NUT. These changes in management are effective as of today. For further information please contact Trond Syvertsen.

 

For further information please contact:
Trond Syvertsen, CEO +47 23310880