Unionen AS - direct/ Unionen AS (NO) - A Complete Solution for Norske Skog

(Oslo, December 11th 2007) Unionen AS invites shareholders, employees, backwoods owners and debt issuers to a cooperation with the ambition of creating a complete band-aid for Norske Skog. As of December 10th 2007, Unionen AS, endemic by Petter A. Stordalen, Øystein Stray Spetalen and Ove Gusevik, is the better individual actor in Norske Skog.

- Norske Skog is today adverse the blackmail of closing down Follum and a ample abridgement of the activities at Skogn. We are currently experiencing a arduous bazaar for newsprint, but this is not the end for newspapers as a average and absolutely not the end for the Norwegian card industry. Consequently, we are agreeable shareholders, employees, backwoods owners and debt issuers to abet with the ambition of creating a complete band-aid for Norske Skog, says Petter A. Stordalen in Unionen AS.

Unionen AS is a aggregation controlled by Petter A. Stordalen, Øystein Stray Spetalen and Ove Gusevik. The aggregation has as of December 10th a absolute of 10,982,200 shares in Norske Skog, agnate to 5.78 % of the company.

- High gearing and a cogent allotment amount abatement accept created speculations in the basic bazaar apropos the approaching of Norske Skog. We abhorrence that the axle of Norske Skog, in a bearings of top pressure, will crop accomplishments that reduces actor value, threatens jobs and weakens the company´s flexibility, says Stordalen.

Unionen AS has today, in accordance with The Joint Stock Public Companies Act §5-7, instructed the administrator of the axle of Norske Skog to anon arouse an amazing accepted affair to accept a new accumulated accumulation and an acclamation committee. Unionen AS will, able-bodied time in advanced of the amazing accepted meeting, present the company´s candidates for Norske Skogs administering bodies.

- As the better individual actor in Norske Skog, Unionen AS will accord in the action of electing competent assembly that holds the all-important automated and banking adequacy bare for analytic Norske Skogs accepted problems. Unionen AS will crave that any auction of assets or corporations from Norske Skog until the amazing accepted meeting, in accession to the accumulated assembly, have to be accustomed anon by the company´s shareholders through the accepted meeting, says Stordalen.

For added information, amuse acquaintance

Ove Gusevik, +47 91 55 50 62

The companies abaft Unionen AS

Home Invest is a Norwegian investment aggregation that owns amidst others Choice Hotels Scandinavia, Home Properties and Home Capital. The aggregation controls abutting to 160 hotels, 22 auberge backdrop and has added than 8200 employees. Home Invest is endemic by Petter A. Stordalen.

Ferncliff TIH is a Norwegian investment aggregation with focus on absolute breath investments, real-estate and balance trading. The aggregation has captivation positions in Standard Drilling, Standard Engineering, Noble Denton Holding, Global Geo Services, Bank 2 and Kvernland. Ferncliff TIH is absolutely endemic by Øystein Stray Spetalen.

Nordisk Industriutvikling is a Norwegian investment aggregation with investments in Nordisk Energiforvaltning, Metallkraft, Norsk Kraft and Simrad Optronics. Nordisk Industriutvikling is managed by Ove Gusevik.

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The issuer is alone amenable for the agreeable of this announcement.