Reference is made to company disclosure dated 19th of April 2012 regarding notice of Annual General Meeting 2012. The company has the following proposal for the election of the Board of Directors.

The following Board members are proposed reelected:

Wenche Rettedal
Erik O. Jacobsen

The following new Board members are proposed:

Michael Steensland Brun, Chairman
Hans Petter Aas
Sigrun Sagedahl

The Board of Directors will after the proposal consist of:

Michael Steensland Brun, Chairman
Wenche Rettedal
Erik O. Jacobsen
Hans Petter Aas
Sigrun Sagedahl

Stavanger 26. April 2012

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.