AGR Group Appoints Svein Sollund to CFO Post

AGR Group has appointed Mr. Svein Sollund as Chief Financial Officer. Most recently, Mr. Sollund has been CFO at Skuld, a Norway based marine insurer, where he has worked for the previous 6 years. In addition to working at Skuld, Mr. Sollund held a number of positions at Norway based Storebrand ASA and its largest subsidiary Storebrand Life Insurance, including Finance Director. He also worked at Fair Insurance, Denmark as Insurance Director.

Mr. Sollund holds a CEMS Master from the University of Wien and NHH, Sivilokonom (MBA equivalent), Norges Handelshoyskole and Examen Philosophicum, University of Oslo. Mr. Sollund will commence with AGR Group on 2 January 2008.

The departing CFO, Mr. Haakon Berg, will assist the company in an advisory role as required, with the finance and accounting functions reporting to AGR's Deputy CEO, Arne Aune, until the new CFO joins the Group.