DNO Purchases 40M Shares

DNO International ASA exercised a call option to purchase 40.000.000 DNO shares at a price of NOK 5,00 per share.

DNO simultaneously sold 40.000.000 DNO shares at a price of NOK 6,50 per share.

DNO further purchased an American call option for 40.000.000 DNO shares at a strike of NOK 3,25 per share, with an option premium of NOK 3,4995 per share and expiry date September 1, 2008.

DNO also issued a European put option for 40.000.000 DNO shares at a strike of NOK 3,25 per share, with an option premium of NOK 0,10 per share and expiry date September 1, 2008.

Following these transactions, DNO holds 23.873.960 treasury shares. In addition, DNO holds options for purchase of 80.000.000 DNO shares.

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