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THIS PRESS RELEASE IS NOT BEING TRANSMITTED INTO ITALY
Stavanger, Norway - August 18, 2008. StatoilHydro ASA
("StatoilHydro") announced today that it is terminating its consent
solicitations and not accepting any consent instructions relating to
proposed amendments to its 9.00% Debentures due 2012, 7.50%
Debentures due 2016, 6.70% Debentures due 2018, 7.75% Debentures due
2023, 7.15% Debentures due 2025 and 7.25% Debentures due 2027 issued
under the 1992 Indenture (each as defined below), and its 7.25%
Debentures due 2027 issued under the 1994 Indenture (as defined
below). In accordance with the terms and conditions set forth in the
respective consent solicitation statements dated June 10, 2008, any
consent instructions given with respect the these series of debt
securities will be voided, and no consent payments will be paid to
their holders.
On July 25, 2008, StatoilHydro announced bondholder approval of
amendments relating to its 6.36% Notes due 2009, 9.125% Debentures
due 2014, 6.80% Debentures due 2028 and 7.15% Debentures due 2029
issued under the 1992 Indenture (each as defined below), and the
9.125% Debentures due 2014 issued under the 1994 Indenture (as
defined below) by its wholly-owned subsidiary, StatoilHydro Petroleum
AS ("StatoilHydro Petroleum"). On August 1, 2008, StatoilHydro made
consent payments of $1.50 per $1,000 principal amount of the
securities to holders of such securities who properly delivered valid
and unrevoked consents on or prior to 5:00 p.m. New York City Time on
July 24, 2008.
The consent solicitations related to (i) the indenture (the "1992
Indenture") relating to the $300,000,000 6.36% Notes due 2009 (the
"6.36% Notes due 2009"), $350,000,000 9.00% Debentures due 2012 (of
which $152,853,000 are outstanding) (the "9.00% Debentures due
2012"), $99,522,000 9.125% Debentures due 2014 (the "9.125%
Debentures due 2014"), $300,000,000 7.50% Debentures due 2016 (of
which $243,825,000 are outstanding) (the "7.50% Debentures due
2016"), $250,000,000 6.70% Debentures due 2018 (the "6.70% Debentures
due 2018"), $300,000,000 7.75% Debentures due 2023 (the "7.75%
Debentures due 2023"), $250,000,000 7.15% Debentures due 2025 (the
"7.15% Debentures due 2025"), $480,512,000 7.25% Debentures due 2027
(the "7.25% Debentures due 2027"), $250,000,000 6.80% Debentures due
2028 (the "6.80% Debentures due 2028"), and $275,000,000 7.15%
Debentures due 2029 (the "7.15% Debentures due 2029" and
collectively, the "1992 Indenture Securities"); and (ii) the
indenture (the "1994 Indenture") relating to the $500,000,000 7.25%
Debentures due 2027 (of which $15,588,000 are outstanding) (the
"7.25% Debentures due 2027 issued under the 1994 Indenture"), and the
$100,000,000 9.125% Debentures due 2014 of StatoilHydro Petroleum (of
which $478,000 are outstanding) (the "9.125% Debentures due 2014
issued under the 1994 Indenture", and collectively, the "1994
Indenture Securities").
Merrill Lynch International, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, UBS Limited and UBS Securities LLC acted as Joint
Solicitation Agents.
Global Bondholder Services Corporation was retained to act as
Information Agent and Tabulation Agent with respect to the consent
solicitations.
This document does not constitute an offer to exchange or sell or an
offer to exchange or buy any securities.
StatoilHydro
http://www.statoilhydro.com/
ISIN: NO0010096985
Stock Identifier: XOSL.STL
US: NYSE:STO
