16 Jul 2004

Currency Items etc., Q 2 2004

Norske Skog releases 2nd quarter figures on August 3rd, around 1 PM. A conference call will be held at 3 PM the same day. The Silent Period ahead of the release starts on Tuesday, July 20.
 
Norske Skog's trade-weighted basket of currencies (the "Norske Skog Index") had an average value of 91.6 in Q 2 2004, as against an average value of 94.5 in Q 1 2004. The value at June 30, 2004 was 92.8 as against 93.3 at March 31, 2004. Starting point of this index is January 1, 2002.
 
Included in EBIT for Q 2 2004 is a provision of NOK 230 million related to the restructuring plan for Australasia. The amount is not included in the region's EBIT, but shown on a separate line.
 
Gain from sale of forest assets in Norway of NOK 142 million is included in "Other Items", and not included in the reported EBIT.

Oxen°en, July 16, 2004

NORSKE SKOG
Investor Relations