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Sparebank 1 SR Bank ASA : -Bank: Oversubscribed rigths issue in SpareBank 1 SR-Bank ASA

06/04/2012 | 01:50am US/Eastern
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Not for release, publication or distribution in the United States, Canada, Australia or Japan.

The subscription period in the rights offering and the employee offering at SpareBank 1 SR-Bank expired Friday 1 June 2012 at 1730 hours (CET). A preliminary count shows that by the expiry of the subscription period SpareBank 1 SR-Bank had received subscriptions for about 70,9 million new shares in the rights offering corresponding to about NOK 1,9 billion. Issue amount is the previously announced 1.5 billion, representing a total of 55,555,555 new shares. The preliminary count shows an oversubscription of about 28%.

- I am very pleased with the interest shown for the capital increase, especially in light of the turbulent period we now see in the financial markets. SpareBank 1 SR-Bank is an attractive company to invest in, which is important to our future business plans, says CEO Arne Austreid in SpareBank 1 SR-Bank.

The preliminary count of the employee offering shows that the employees subscribed for a total of about 705.858  new shares distributed on 260 employees. The overall subscribed
amount is about NOK 19 million.

The final allocation of shares offered in the rights offering and the employee offering will be adopted by the CEO and the Chairman of the Board of Directors of SpareBank 1 SR-Bank on Thursday, 7 June 2012. The allocation will be carried out in conformity with the allocation criteria set forth in the prospectus dated 9 Mai 2012. The final subscription result will
be published by notice via the Oslo Stock Exchange on 7 June 2012. On the same
day, there will be sent letters concerning the allocation of shares and the corresponding subscription amount to be paid by each subscriber.

Stavanger, 4 June 2012

Contact persons:
Inge Reinertsen, Chief Financial Officer, tel. +47 909 95 033
Thor-Christian Haugland, Executive Vice President Communications, tel. +47 480 31 633
Vidar Torsøe, Vice President Investor Relations, tel. +47 970 80 656

Disclaimer
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and  possessions, any State of the United States and the District of Columbia), Canada, Australia, Japan or Hong
Kong or in other jurisdictions where such distribution is not lawful. These materials do not constitute or form a part of any offer or solicitation topurchase or subscribe for securities in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The securities mentioned herein may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of theSecurities Act. There will be no public offer of securities in the United States.

The contemplated issue of ordinary shares (the "Shares") in SpareBank 1 SR-Bank ASA (the "Rights Issue"), the exercise or sale of subscription rights contemplated to be issued in the Rights Issue (the "Rights") and the subscription or purchase of Shares or Rights are subject to specific legal or regulatory restrictions in certain jurisdictions. SpareBank 1 SR-Bank ASA
assumes no responsibility in the event there is a violation by any person of such restrictions.

This stock exchange release is for information purposes only and has not been approved by any regulatory authority. It is not a prospectus, disclosure document or offering document and does not purport to be complete. Nothing in this stock exchange release should be interpreted as a term or condition of the Rights Issue. Investors should not subscribe for, purchase, otherwise acquire, sell or otherwise dispose of Rights and/or ordinary shares except on the basis of information in the prospectus to be published by SpareBank 1 SR-Bank ASA in due course in connection with the Rights Issue (the "Prospectus") which will
contain further information relating to the company as well as a summary of the risk factors to which any investment is subject. This stock exchange release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire any securities offered by any person in any jurisdiction in which such an offer or solicitation is unlawful.

The distribution of this stock exchange release and/or the Prospectus into jurisdictions other than Norway may be restricted by law. Persons into whose possession this stock exchange release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

SpareBank 1 SR-Markets, Arctic Securities ASA, Pareto Securities AS and SpareBank 1 Markets are acting for SpareBank 1 SR-Bank ASA and no one else in connection with the Rights Issue and will not be responsible to anyone other than SpareBank 1 SR-Bank ASA for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue and/or any other matter referred to in this document.

This document and any materials distributed in connection with this document may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect SpareBank 1 SR-Bank ASA 's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the risks and uncertainties to be set out in the prospectus.

This information is subject of the disclosure requirements acc. to §5-12 vphl (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: SpareBank 1 SR-Bank ASA via Thomson Reuters ONE

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