Norsk Hydro ASA has today completed the sale of its 29.7percentownership interest in Qatar Vinyl Company (QVC) to QatarPetroleum.The transaction represents net proceeds to Hydro of USD 136million(NOK 735 million). The transaction is expected to result in a gainofapproximately NOK 100 million to be recorded in the thirdquarterresults. This completes the divestment of Hydro'sPolymersactivities.

Hydro entered into an agreement to sell its Polymers activitiestoINEOS in late May 2007, consisting of production facilitiesinNorway, Sweden and the UK, and the 29.7 percent ownership interestinQVC. The sale to INEOS was completed February 1, 2008, excludingtheQVC ownership interest as Qatar Petroleum exercised itspre-emptiveright to acquire the QVC ownership interest.

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Certain statements included within this announcement containforward-looking information, including, without limitation, thoserelating to (a) forecasts, projections and estimates, (b)statementsof management's plans, objectives and strategies for Hydro, suchasplanned expansions, investments or other projects, (c) targetedproduction volumes and costs, capacities or rates, start-up costs,cost reductions and profit objectives, (d) various expectationsaboutfuture developments in Hydro's markets, particularly prices,supplyand demand and competition, (e) results of operations, (f)margins,(g) growth rates, (h) risk management, as well as (i) statementspreceded by "expected", "scheduled", "targeted", "planned","proposed", "intended" or similar statements.

Although we believe that the expectations reflected in suchforward-looking statements are reasonable, these forward-lookingstatements are based on a number of assumptions and forecaststhat,by their nature, involve risk and uncertainty. Various factorscouldcause our actual results to differ materially from those projectedina forward-looking statement or affect the extent to which aparticular projection is realized. Factors that could cause thesedifferences include, but are not limited to: our continued abilitytoreposition and restructure our upstream and downstream aluminiumbusiness; changes in availability and cost of energy and rawmaterials; global supply and demand for aluminium and aluminiumproducts; world economic growth, including rates of inflation andindustrial production; changes in the relative value of currenciesand the value of commodity contracts; trends in Hydro's keymarketsand competition; and legislative, regulatory and politicalfactors.

No assurance can be given that such expectations will prove tohavebeen correct. Hydro disclaims any obligation to update or reviseanyforward-looking statements, whether as a result of newinformation,future events or otherwise.

Copyright © Hugin AS 2008. All rights reserved.