11 Mar 2009

Changed composition of loan portfolio

Norske Skog has drawn the full amount under the EUR 400 million (around NOK 3.6 billion) revolving credit facility maturing in February 2012.  The proceeds, combined with EUR 100 million of the company's cash surplus, will be used for prepayment of a EUR 500 million loan maturing in January 2010.
The transaction will have no effect on net interest bearing debt or the gearing of Norske Skog.
Oxenøen, March 11, 2009
Norske Skog
Corporate Affairs