Norske Skog Skogn has entered into a NOK 500 million term facility loan
agreement with DNB Bank ASA. The facility qualifies as a green loan subject to
established green project criteria relating to emission reductions from the
newly started thermo-mechanical pulp line and purchases of certified wood fibre.

- We are pleased to raise our first green loan at Norske Skog Skogn and to
progress with our work to hold a majority of our debt financing at the
subsidiary level. The financing will free up operating cash flows at Skogn to be
used for purposes across Norske Skog, says CEO Geir Drangsland.

The loan has maturity of three years, with possible extension to four or five
years subject to potential extension requests being approved by the lenders. The
loan has an annual repayment of NOK 50 million and has a floating interest rate
of NIBOR 3M plus a margin. The loan proceeds are expected to be received during
the third quarter subject to certain conditions precedent.

Norske Skog has cancelled its undrawn EUR 31 million revolving credit faciliy
with DNB at the parent level, resulting in, among other, the release of NOK 328
million in restricted cash. Further debt financing at the parent level in the
form of overdraft or revolving credit facilities will be considered within the
amounts permitted by existing loan agreements in the group.

For further information:

Norske Skog media: 
Vice President Communication and Public Affairs
Carsten Dybevig
Email: carsten.dybevig@norskeskog.com
Mob: +47 917 63 117

Norske Skog financial markets:
Vice President Corporate Finance
Even Lund 
Email: even.lund@norskeskog.com 
Mob: +47 906 12 919