Oslo, Norway, 2012-02-06 11:35 CET (GLOBE NEWSWIRE) --
STOCK EXCHANGE NOTIFICATION



February 6, 2012


Eksportfinans profit warning financial statements 2011

Following the downgrading of Eksportfinans’ debt by Moody’s to Ba1 and by
Standard &Poor’s to BBB+ in November 2011, the fair value of the Company’s debt
instruments is significantly reduced. As a result the valuation of
Eksportfinans debt instruments carried at fair value as of December 31, 2011
will be significantly reduced compared to September 30, 2011. The Company
currently estimates that the reduction in fair value of its debt instruments
will be approximately NOK 40 billion before tax. As a result, in accordance
with IFRS, the Company will therefore record an unrealized gain on financial
instruments of approximately NOK 40 billion through its Profit &Loss statement.
The company’s capital ratios will not be affected in any material way by this
unrealized gain.

Eksportfinans’ core earnings, which are defined as Net profit excluding
unrealized gains and losses and excluding realized losses hedged by the
Portfolio Hedge Agreement (PHA), will not be affected by this fair value change
and related unrealized gain.



For further information, please contact:

President and CEO Gisèle Marchand
Tel: +47 41 51 74 89
E-mail: [email protected]

EVP Chief Financial Officer Geir Ove Olsen
Tel: +47 22 01 23 05 / +47 900 92 326
E-mail: [email protected]

EVP Director of Staff/ Head of Communications Elise Lindbæk
Tel: + 47 22 01 22 64 / +47 905 18 250
E-mail: [email protected]