Jan Reinås elected as new Chairperson of the Board of Directors in Hydro

(March 16, 2004) The Corporate Assembly of Norsk Hydro ASA has elected Jan Reinås as new Chairperson of the Board of Directors.

Jan Reinås

Reinås replaces Egil Myklebust, who has been member of Hydro's Board for 12 years, the last three years as Chairperson. Myklebust notified the Nomination Committee last November that he did not wish to be reelected at the end ofhis electoral period in the spring 2004.

Jan Reinås (59) has been CEO of the paper group Norske Skogfrom 1994 to the end of 2003, and has previously also been CEO of Scandinavian Airlines. He is currently a member of the Boardof the media group Schibsted ASA and Swiss International Air Lines.

The Corporate Assembly also elected Terje Friestad (52) as member of the Board. Friestad is representing the employees, and is replacing Steinar Skarstein, who is leaving Hydro for Yara International ASA. Friestad has worked for Hydro since 1972. His current position is Senior Engineer at Hydro Aluminium, Karmøy.

The changes will take effect on 25 March 2004.

Hydro's Board will after this consist of:

• Jan Reinås, Chairperson
• Borger A. Lenth, Vice Chairperson
• Terje Friestad (elected by employees)
• Elisabeth Grieg
• Håkan Mogren
• Ingvild Myhre
• Geir Nilsen (elected by employees)
• Anne Cathrine Høeg Rasmussen
• Odd Semstrøm (elected by employees)