Nel ASA

Mandatory notification of trade

Reference is made to the stock exchange announcement

made earlier today regarding the final result and

allocation in the subsequent offering in NEL ASA

(the "Company"). Primary insiders in the Company have

today been allocated shares in connection with the

subsequent offering as follows:

ELMO Holding AS, a company controlled by Lars Markus

Solheim, Erik Evju, Ole Arnt Lindgren and Magne

Myrhaug, all employees of NEL ASA, have been

allocated 2,615,385 shares. ELMO Holding AS has

following this a shareholding of 62,000,000 in the

Company.

Ann Marie Gohli Russel, member of the Board, has been

allocated 50,000 shares. Ann Marie Gohli Russel has

following this a shareholding of 376,923 in the

Company.

Bjørn Simonsen, Director - Market Development and

Public Relations, has been allocated 325 000 shares

through the company Simonsen Invest AS. Bjørn

Simonsen has following this a shareholding of

1,665,769 in the Company through Simonsen Invest AS.

All shares were allocated at the subscription price

in the subsequent offering, being NOK 1.35.

This information is subject to the disclosure

requirements pursuant to section 5-12 of the

Norwegian Securities Trading Act.

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