Norske Skog (OSL:NSG) - Purchase Of USD Bonds

Norske Skog (OSL:NSG) Norske Skog has today sent the following release to Luxembourg Stock Exchange:

Norske Skog has bought back bonds totalling USD 54.4 million (par value) in a USD bond loan maturing on Oct 15, 2011. Together with earlier purchase, Norske Skog's own holding now amounts to USD 141 million, and the residual loan is USD 459 million. The loan has a coupon rate of 7 5/8 per cent and ISIN numbers are USR80036AN77 (Luxembourg listing) and US656533AA45.

Oxenøen, December 17, 2008

NORSKE SKOG Investor Relations

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Norske Skog

www.norskeskog.com

ISIN: NO0004135633

Stock Identifier: XOSL.NSG