Oslo, Saturday, January 1, 2000
Stock Exchange Notification

Blom ASA has retained Pareto Securities to advise on and effect a private placement of shares directed towards professional and international investors raising gross proceeds of up to NOK 129.6 mill. The use of proceeds is for general purposes and supporting continued growth.

BLOM will offer up to 3.6 mill new shares at a subscription price of NOK 36.00 per new share. As a result of the offer, the registered share capital and shares outstanding will increase by approx. 9.8%. The private placement is subject to the approval of the BLOM board of directors.

For further information, please contact:

Mr. Dirk Blaauw, Chief Executive Officer, telephone: +47 22 13 19 23

Mr. Jan Erik Braathen, Chief Financial Officer, telephone: +47 22 13 19 24

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