Pertra Names New CFO

Paul Hjelm-Hansen has been named as Chief Financial Officer in Pertra and will commence his new position January 15, 2006.

Hjelm-Hansen received his MBA from the University of Denver, USA, in 1988, and is a licensed Financial Analyst (AFA) from The Norwegian School of Economics and Business Administration. In addition, he is a licensed Portfolio Manager (The Norwegian Society of Financial Analysts/The Norwegian School of Economics and Business Administration).

He has previously been engaged as Financial Analyst in Christiania Bank og Kreditkasse, Investment Manager in Fokus Bank, Financial Manager with Bachke & Co AS, and as Portfolio Manager with Christiania Bank og Kreditkasse. He is presently an independent investor and consultant; he is consultant for several funds and holds a number of board positions. Through his board appointment in Petro Midt-Norge AS and Pertra AS he is already well acquainted with Pertra. Hjelm-Hansen resigns as Board Member in Pertra AS, but will continue as Member of the Board in Petro Midt-Norge AS, as this company is due for dissolution soon.

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