Norsk Hydro Share Buyback

Norsk Hydro Share Buyback 


OSLO, Norway, June 2  /PRNewswire-FirstCall/ -- Norsk Hydro ASA (NYSE:NHY) has
on 1 June 2005 purchased 38,000 own shares at a price of NOK 529.05 per share.
After this transaction, Hydro holds 7,919,564 own shares. The transaction is
part of a buyback programme that was approved by Hydro's General Meeting on 1
December 2004. This buyback programme opens for buyback of up to 5,617,621
shares in the market, and is valid for 18 months. The shares will subsequently
be sought cancelled. Hydro's largest shareholder, the Norwegian State, has
committed to participate by cancelling a proportional part of its shares,
leaving the State's 43.82 per cent ownership unchanged. The compensation to the
State will be equal to the price achieved in the market, plus an interest of
NIBOR + 1 per cent, calculated from the dates of acquisition of the
corresponding shares. In total, up to 10 million shares may be cancelled,
equivalent to 4 percent of the outstanding shares. The decision on cancellation
must be made with a majority vote of 2/3 of the shares represented at the
General Meeting. Any further buyback transactions under this programme will be
disclosed at Oslo Stock Exchange, and on http://www.hydro.com/.

Certain statements in this press release are or may constitute
"forward-looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Statements that are not in the nature of
historical facts may be deemed to be forward-looking statements and may contain
identifying words such as "believes", "anticipates", "plans", "expects" and
similar expressions. These forward looking statements are based on Hydro's
current expectations, assumptions, estimates and projections about the company
and the industries in which it engages in business. All forward-looking
statements involve risks and uncertainties. For a detailed description of
factors that could cause Hydro's actual results to differ materially from those
expressed in or implied by such statements, please refer to its annual report
on Form 20-F for the year-ended December 31, 2004 and subsequent filings on
Form 6-K with the U.S. Securities and Exchange Commission. With respect to each
non-GAAP financial measure Hydro uses in connection with its financial
reporting and other public communications, Hydro provides a presentation of
what Hydro believes to be the most directly comparable GAAP financial measure
and a reconciliation between the non-GAAP and GAAP measures. This information
can be found in Hydro's earnings press releases, quarterly reports and other
written communications, all of which have been posted to Hydro's website
(http://www.hydro.com/).

  Contact   Gudmund Isfeldt                Idar Eikrem
  Telephone [phone]                    [phone]
  Cellular  [phone]                    [phone]
  E-mail          

DATASOURCE: Norsk Hydro



CONTACT: Gudmund Isfeld, , [phone] or

[phone] cell or Idar Eikrem,  , [phone] or

[phone] cell, both for Norsk Hydro ASA 



Web site: http://www.hydro.com/ 

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