DNB Bank ASA

DNB lowers the interest rate on home mortgages

DNB has today decided to reduce interest rates on home mortgages by up to 0.50

percentage points. This is the second time in under two weeks that the bank has

lowered its home mortgage rate.

- Due to the extraordinary situation the market is changing very quickly, which

makes the price of money for banks unpredictable. This makes it very difficult

to set long-term mortgage rates at the moment, says Ingjerd Blekeli Spiten, head

of Personal Banking in DNB.

- As Norway's largest bank, DNB must help keep the wheels turning at a time of

uncertainty. Mortgages usually have a horizon of 20 to 30 years, and DNB intends

to be a safe and predictable partner for our customers, through this crisis and

for many years to come. We will continue to be here for customers across the

country, and help find solutions for those who find themselves in a difficult

situation, she continues.

- A huge number of Norwegians are now applying for interest-only periods, and we

want to help them as quickly possible. We therefore ask that customers who have

questions about interest rates, wait to contact us until they have received

information on how their loans are affected by this interest rate change," says

Spiten.

The interest rate change for existing home mortgages comes into effect from 2

May. Our new rates will apply to new mortgages from 24 March.?Next week, all

customers whose interest rates are adjusted will be given information in the

Internet bank or receive a letter by regular mail, explaining how their mortgage

is affected.

For further information, please contact:

Even Westerveld, EVP Corporate Communications, tel. ( 47) 400 16 744

Rune Helland, head of Investor Relations, tel. ( 47) 977 13 250

This information is subject to the disclosure requirements according to Section

5-12 of the Norwegian Securities Trading Act.

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