Kommunekreditt Norge AS

The objective of Kommunekreditt is to offer competitive long-term financing to municipalities, county municipalities and corporations engaged in government operations.

Kommunekreditt is wholly-owned subsidiary of Eksportfinans ASA and forms part of the Eksportfinans Group. This Group is Norway's largest credit agency, with total assets of NOK 165.2 billion at year-end 2006. The Group is owned by Norwegian commercial banks, about 20 savings banks and the Norwegian State, and was established to provide the best possible long-term financing for the Norwegian export business and the local government sector.

As a result of its participation in the Eksportfinans Group, Kommunekreditt is a part of a finance community that obtains funds at favourable terms for the financing of long-term low-risk lending. The reason for this is that the Group has obtained the highest rating for its funding (AAA) from the rating agencies Moody's and Fitch IBCA.The Group has high competence in and long experience of funding in international capital markets.

The business operations of Kommunekreditt and Eksportfinans have obvious features in common in that they are both engaged in specialised long-term financing involving low risk. This offers economies of scale and access to systems and competence, so that the business may be operated and developed in a secure and cost-effective manner.

Kommunekreditt Norge (www.kommunekreditt.no)

Financial information, in Norwegian