StatoilHydro elects board directors

The corporate assembly of Statoil ASA has elected the board of directors for StatoilHydro.

Offshore staff

STAVANGER, Norway --The corporate assembly of Statoil ASA has elected the board of directors for StatoilHydro. The board will become operative on Oct. 1, when the merger between Statoil and Norsk Hydro ASA's oil and gas business takes effect.

Eivind Reiten was elected chairman of the board and Marit Arnstad was elected deputy chair.

Elisabeth Grieg, Grace Reksten Skaugen, Kjell Bjørndalen, Roy Franklin, and Kurt Anker Nielsen were elected members of the board. The term of office for the shareholder-elected directors will run until 2010.

The employee-elected representatives on Statoil's present board, Lill-Heidi Bakkerud, Claus Clausen, and Morten Svaan, will continue as employee directors in StatoilHydro. In addition, two representatives for the employees in Hydro, Ragnar Fritsvold and Geir Nilsen, will attend StatoilHydro board meetings.

8/23/2007

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