DnB NOR's Division Director Of Securities Services Jorgen Krager To Retire

DnB NOR has announced that Jrgen Krager will retire from his position as head of Securities Services Division on May 1, 2006, on his 62nd birthday. Krager was responsible for the establishment and development of the division where he has

By None

DnB NOR has announced that Jrgen Krager will retire from his position as head of Securities Services Division on May 1, 2006, on his 62nd birthday.

Krager was responsible for the establishment and development of the division where he has served as head since 1965.

Jan B. Penne, currently director for IT Strategy and Business Development in DnB NOR will succeed Jrgen Krager, effective February 1, 2006.

Penne has broad experience from the Norwegian securities industry, serving as Administrative Director in DnB Investor and Chairman of the Board of Norwegian Mutual Fund Association. Penne also has extensive credit experience in Securities Finance from his work as Credit Director in the Retail Division in DnB from 1992 to 1998.

Krager will act in a supportive role for Jan B. Penne until his retirement date.

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