Offshore staff

STAVANGER, Norway --The election committees of Statoil and Hydro have presented recommendations for the board of directors of StatoilHydro which will be established through the planned merger between Statoil and Hydro's oil and gas activities.

Eivind Reiten, president and CEO of Hydro, has been recommended as chair of the board of the merged company.

Statoil's Election Committee has recommended Marit Arnstad as deputy chair and Grace Reksten Skaugen, Kjell Bjørndalen, and Roy Franklin as board members of StatoilHydro. Marit Arnstad and Grace Reksten Skaugen are members of Statoil's board.

Hydro's Election Committee has recommended Elisabeth Grieg and Kurt Anker Nielsen as board members. Both are members of Hydro's board.

In addition, three members of the StatoilHydro board will be elected by and among the employees.

Election of the board will be made by Statoil's present Corporate Assembly after the companies' extraordinary general meetings have considered the merger, and on the condition that the merger proposal receives approval. The extraordinary general meetings are expected to be held in late June/early July.

5/4/2007