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Storebrand ASA (OSL:STB) Storebrand Bank Konsern Q2 Results

Storebrand ASA (OSL:STB) Interim results for 1st half year 2008

* Storebrand Bank achieved group profit of NOK 37 million before tax in Q2 and NOK 81 million for the first six months of 2008. * Storebrand Bank ASA's profit before tax was NOK 52 million in Q2 and NOK 94 million for the first six months of 2008. * Ring Eiendomsmegling's profit was affected by the weak development in the real estate market. * Reduced sales of alternative savings products, including the real estate investment fund, and the continued instability in the credit market had a negative effect on the result. * Storebrand Kredittforetak AS issued their first covered bonds. The lending volume at the close of Q2 amounted to NOK 7,400 million.

For further information contact:

CEO Klaus-Anders Nysteen, mobile +47 992 65 691 Finance director, Trond Fladvad, mobile +47 928 97 173

LINK: http://hugin.info/169/R/1242997/267552.pdf

Storebrand ASA

http://www.storebrand.no/

ISIN: NO0003053605

Stock Identifier: XOSL.STB

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Storebrand ASA

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