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Aasheim has extensive industrial experience and comes from the position as executive vice president and member of the corporate management board of energy group StatoilHydro ASA, in charge of Corporate Staffs and Services.

She held a number of senior management positions in Norwegian metals maker Elkem ASA in the period 1986-2005 and joined Hydro in 2005 as executive vice president for Leadership & Culture, including Human Resources, Health, Safety and Environment and Corporate Social Responsibility. She headed the comprehensive integration process related to the merger of Hydro’s oil and gas activities with Statoil and started working for StatoilHydro on October 1, 2007, following the merger.

Aasheim holds an MA in business economics from the Norwegian School of Economics and Business Administration (NHH) and is a state-authorized public accountant. In her new job, she will report directly to Hydro President and CEO Eivind Reiten.

A date for Aasheim’s departure from StatoilHydro has yet to be decided.

Dale Sjøtveit will leave Hydro on September 1. In the interim period before Aasheim takes on her new position, Jan Arve Haugan, Hydro’s head of Technology and Part-owned Smelters, will act as head of the business area.

As of August 15, head of Corporate Strategy and Business Development Arvid Moss will become a member of Hydro’s corporate management board. Moss has held several senior management positions in Hydro and was project leader for the merger process that ended up in the merger agreement with Statoil in December 2006.

Press contact
Contact: Inger Sethov
Telephone: +47 22532036
Cellular: +47 95022359

Investor contact
Contact: Stefan Solberg
Telephone: +47 22539280
Cellular: +47 91727528


Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management’s plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro’s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.  Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized.  Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro’s key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct.  Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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