Norske Skog sells forest in Brazil

Norske Skog sells forest areas in Brazil as part of the work to improve the company's financial position Norske Skog has entered into an agreement with CMNPAR Four Participacoes S.A., a Brazilian company advised by Global Forest Partners LP, a US based, SEC registered investment advisor, for the sale of around 21 500 hectares of forest in Brazil, of which 10 500 hectares are productive forest. - We are satisfied with the sale of the forest property in Brazil, which did not generate cash and was not a core asset. This will improve our financial position by reducing our net debt, says Sven Ombudstvedt, CEO and President of Norske Skog. The sales price for the shares is USD 63.5 million (approximately NOK 335 million), which will be paid within few days. The sale has resulted in a gain of around NOK 43 million, which will be recognized in the first quarter of 2011 and included in "Other gains and losses". Oxenøen, 3 May 2011 Norske Skog Corporate communication For further information: Media: Financial markets: Vice President Corporate Communication Vice President Investor Relations Carsten Dybevig Jarle Langfjæran Mob: (+47) 917 63 117 Mob: (+47) 909 78 434 Senior Advisor Investor Relations Frode Tegnér Mob: (+47) 906 19 102 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Norske Skog via Thomson Reuters ONE [HUG#1511587]