Business: Audun Røneid is Norske Skog's new CFO

Audun Røneid (51) comes from the position as CFO in Davie Yards Inc. in Canada.

"I am happy that Audun Røneid will become the CFO of Norske Skog. He has solid experience from both development and restructuring of international industry, and will strengthen Norske Skog's corporate management team," says CEO Christian Rynning-Tønnesen.

Røneid has a MIB from the Norwegian School of Management (BI). From 1994 to 1998 he was senior vice president of Kværner Ships Equipment, and he was the CFO of Aker Yards from 1998 to 1999. From 1999 to 2002, Røneid held the position of senior vice president finance of Kværner Oil & Gas Field Development. He then worked as CFO of Jotun before taking over as CFO of Davie Yards from 2007.

When Røneid will take up the position will be agreed later.

Oxenøen, 14 July 2008
Norske Skog
Corporate affairs

For further information:

Vice president corporate affairs Tom Bratlie
Telephone: +47 905 21 904

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Business: Norske Skog sells property in Trondheim to Maja Eiendom

Norske Skog sells the 5.2 hectare property Ranheim Vestre in Trondheim Municipality to Maja Eiendom for NOK 72 million.

Maja Eiendom plans to develop the area for residential purposes. This is in accordance with the municipal zoning plan for the area.

It is Norske Skog's wholly owned subsidiary Ranheim Eiendomsutvikling AS which sells the property. The sale will yield a recognised gain of about NOK 70 million before tax.

Eiendomsmegler 1 Midt-Norge has assisted Norske Skog with the sale.

Oxenøen, 11 July 2008
Norske Skog
Corporate affairs

For further information:

Norske Skog:
Vice president corporate affairs
Tom Bratlie
Telephone: +47 905 21 904

Maja Eiendom:
Roger Holmgren
Telephone: +47 951 05 650

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Business: Norske Skog sells Hauger GÃ¥rd in Vestby municipality to Petter Olsen

The farm Hauger GÃ¥rd lies between Hvitsten and Son in Vestby municipality, and comprises 301.5 hectare. The property consists of woodlands and fields, in addition to two residential properties and nine vacation properties.

Petter Olsen is buying the properties from Norske Skog for NOK 43 million. The price corresponds to appraised value and gives a gain of around NOK 40 million.

Petter Olsen owns and operates Ramme GÃ¥rd in the same area. Ramme GÃ¥rd is an eco-cultural meeting place with cultural activities, and farming and guesthouse operations based on versatile and organic agriculture. Petter Olsen buys Hauger GÃ¥rd to complete and expand the ecological farming, and to develop activities aimed at youths in cooperation with other players.

Hauger GÃ¥rd will be developed in line with national and local plans, ensuring access for the public to the area and shoreline.

Oxenøen, 10 July 2008

Norske Skog
Corporate affairs

For further information:

Norske Skog:
Vice president corporate affairs
Tom Bratlie
Telephone: +47 905 21 904

Petter Olsen:
Property manager
Calle Andersen
Telephone: +47 900 79 009

Press release (PDF)

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The Hugin Team