19 Apr 2007

Currency effects, etc, in the first quarter of 2007

Norske Skog's accounts for the first quarter of 2007 will be published at 08.00 on Friday 4 May.

A presentation with webcast will be held in the company's premises at 13.00 on the same date. More information concerning this presentation will be posted to Norske Skog's website at www.norskeskog.com.

The silent period ahead of publication will commence on Monday 23 April.
 
Special items related to the first-quarter results
 
The net effect of energy hedging related to Norske Skog's electricity contracts is an expense of NOK 380 million for the quarter. This is an unrealised change in value, which arises because future energy prices relate to some extent to underlying derivatives.

Included under financial items, currency effects add up to a gain of roughly NOK 80 million. This gain is mainly unrealised.
 
Norske Skog's trade-weighted basket of currencies (the Norske Skog index) had an average value of 88.5 in the first quarter of 2007, compared with 90.2 in the fourth quarter of 2006 and 88.6 in the first quarter of 2006. The starting date for the index is 1 January 2002.

Oxen°en, 19 April 2007

Norske Skog
Investor relations