26 Mar 2001 Norske Skog sells Tasman Pulp Norske Skog has today reached an agreement to sell the Tasman Pulp mill at Kawerau, New Zealand, to Carter Holt Harvey. The agreed price is USD 130 million (NOK 1,170 million), which is in line with the book value of Tasman Pulp. The completion of the transaction is scheduled for 30 April, 2001. An additional payment of up to USD 10 million (NOK 90 million) due to a profit split agreement will become payable depending on the development of global pulp prices over the next two years. The deal has been approved by both the Carter Holt Harvey and the Norske Skog boards and the New Zealand Commerce Commission. - The divestment of Tasman Pulp is in line with our strategy of concentration on the core business publication paper world-wide, said Jan Reinås, CEO of Norske Skog. – During the five month period August – December 2000, Tasman Pulp recorded a gross operating profit of NOK 348 million, which is a margin of 51 %. We have now sold it at book value, meaning a very good return in the short period under Norske Skog’s ownership. It is among the best performing pulp mills in the world, and we believe Carter Holt Harvey has the necessary operational focus to help the mill realise its full potential. Tasman Pulp has a capacity of 285,000 tonnes of sulphate pulp. The new owner, Carter Holt Harvey, is the second largest company in New Zealand, with large activities within forestry, building materials and pulp and paper in New Zealand and Australia. Oxenøen, March 26, 2001 NORSKE SKOG Corporate Communications For further information: Media: Hanne Aaberg, VP Corporate Communications, tel. +47 67 59 90 00/+47 913 51 681 Financial markets: Mr Jan Kildal, Senior VP & CFO, tel. +47 67 59 90 00 Mr Jarle Langfjæran, VP Investor Relations, tel. +47 74 08 72 82/+47 909 78 434