Hydro fulfills ownership commitments on Trevo acquisition

(Jan. 16, 2002) Hydro is now fulfilling a contractual obligation to purchase additional shares in the the Brazilian fertilizer company Adubos Trevo, as specified in the acquisition agreement from 2000.

Both the number of shares involved, about 50% of the banks' total shareholding, as well as the US dollar price, are specified in the original agreement with the banks holding the shares. That agreement also determined that minoritiy shareholders apart from the banks would be given the right to sell to Hydro at the same price.

The transaction, regardless of whether other minority shareholders sell or not, will not significantly change the control situation of the company, since Hydro already controls 96% of ordinary shares, as well as almost 92% of the total capital.

Ordinary shares make up one-third of the total number of shares in Trevo and the remaining two-thirds are preferential shares.