DNO ASA - Authorisation to acquire treasury shares

At the company's annual general meeting on 21 May 2002 the Board of Directors of DNO was authorised to acquire up to 10 per cent of the share capital in treasury shares pursuant to Section 9-4 of the Norwegian Act relating to Public Limited Companies ("Allmennaksjeloven"). The authorisation was granted for a period of 18 months from the date of the decision of the annual general meeting, and thus expires on 21 November 2003.
The company's acquisition of treasury shares has created values for our shareholders and contributed to improved liquidity of the DNO share. The Board of Directors will continue to make use of the authorisation to enhance shareholder values.
9 September 2003
For further information, please contact:
Helge Eide, Group Managing Director.
Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80