The Board of Directors of Noreco approves annual accounts and Board of Director's report for 2009

Stavanger, 25 March 2010: Norwegian Energy Company ASA (OSE:NOR)The Board of Directors of Norwegian Energy Company ASA has approved the consolidated financial statements, the parent company's financial statements and the Board of Directors' report for 2009. Except for minor balance sheet reclassifications, no changes have been made to the accounts compared with those presented in the 4Q 2009 Interim Report published on 18 February 2010. The Board will propose to the Annual General Meeting not to pay any dividend for 2009. A complete Annual Report will be published on the company's web in the middle of April 2010 together with the notice for the Annual General Meeting, which will be held on 6 May 2010. For further information, please contact: Einar Gjelsvik, VP Strategy & Investor Relations (+47 992 83 856) This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1397667]