Election of StatoilHydro board

(Aug. 23, 2007) The corporate assembly of Statoil ASA has today, 23 August, elected the board of directors for StatoilHydro. The board will become operative on 1 October when the merger between Statoil and Norsk Hydro ASA's oil and gas business takes effect.

Eivind Reiten was elected chairman of the board with eight votes in favor and four against. Marit Arnstad was elected deputy chair.

Elisabeth Grieg, Grace Reksten Skaugen, Kjell Bjørndalen, Roy Franklin and Kurt Anker Nielsen were elected members of the board.
In line with the merger agreement between Statoil and Hydro, the term of office for the shareholder-elected directors will run until 2010.

The employee-elected representatives on Statoil's present board, Lill-Heidi
Bakkerud, Claus Clausen and Morten Svaan, will also be employee directors in
StatoilHydro. In addition, two representatives for the employees in Hydro,
Ragnar Fritsvold and Geir Nilsen, will attend StatoilHydro board meetings.