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Distributed: Nov 7, 2008

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Norske Skog (OSL:NSG) Norske Skog has bought back bonds totalling USD 25 million (par value) at a price of 68 per cent in a USD bond loan maturing on Oct 15, 2011. The loan has a coupon rate of 7 5/8 per cent and with ISIN number US656533AA45.

The remaining amount of this loan after the buy-back is USD 575 million.

Oxenøen, November 7, 2008

NORSKE SKOG Investor Relations

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Norske Skog

www.norskeskog.com

ISIN: NO0004135633

Stock Identifier: XOSL.NSG



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