Hydro Shareholders to Vote on Statoil Merger on July 5

Norsk Hydro ASA will hold an Extraordinary General Meeting of shareholders on July 5, 2007, to vote on the proposed merger of the petroleum activities of Norsk Hydro ASA with Statoil ASA.

The Boards of Directors of Hydro and Statoil resolved on March 12 and 13, 2007, respectively, to recommend the merger. Hydro's Corporate Assembly considered the proposal from the Board of Directors on March 29, 2007, and recommends that the general meeting of the company adopts the merger.

Following the US Securities and Exchange Commission (SEC) approval of Statoil's Registration Statement on Form F-4, which includes the prospectus relating to the planned merger of Hydro's petroleum activities with Statoil on Friday, May 25, 2007, all documentation is now in place for Hydro's shareholders to consider the proposed merger.

The Extraordinary General Meeting will be held on Thursday, July 5, 2007, at 5 p.m. CET at Radisson SAS Scandinavia Hotel, Holbergsgate 30, Oslo, Norway.

All shareholders registered directly in the Norwegian Central Securities Depository, except those subscribing to electronic notices of general meetings, will shortly receive the notice of the Extraordinary General Meeting accompanied by the extensive documentation that has been prepared in connection with the approval of the "Merger Plan". Holders of Hydro's American Depositary Receipts will also receive the material. All documents are also available on Hydro's website www.hydro.com.