Norske Skog's own holding amounts to 719,976 shares after this purchase, which is done under the authorization to buy back up to 10 % of the shares, given by the Annual General Meeting.

 

The shares will be used in connection with the employee share scheme and for bonus payments, and they will not be cancelled.

 

The current buy-back program is limited to 500,000 shares and goes on until December 31, 2004. Norske Skog has so far bought back 239,500 shares under the authorization.

 

Oxenøen, 04 August 2004

NORSKE SKOG

Investor Relations