22 Jan 2004

Tax Items and Currency, Q 4 2003

Norske Skog releases 4th quarter figures on February 5, around 2 PM. The Silent Period ahead of the release starts on Friday, January 23.
In the Q 4 figures, a tax correction (income) of NOK 212 million will be booked, relating to a tax dispute from 2001. The amount will have the same cash effect.
Norske Skog's trade-weighted basket of currencies (the "Norske Skog Index") had an average value of 90.0 in Q 4 2003, which is a 1.3 % strengthening of NOK compared to the average in Q 3. The value at December 31 was 90.6, which is a weakening of 1.9 % compared to the index value at the end of Q 3. Starting point of this index is January 1, 2002.

Oxen°en, January 22, 2004
Investor Relations