Copenhagen Stock Exchange: The NOREX Alliance Adjusts The Common Index Rules

Copenhagen Stock Exchange: The NOREX Alliance Adjusts The Common Index Rules The common NOREX index rules will be adjusted and specified in a number of areas. The changes have been effected in consultation with market participants in Denmark, Norway and Sweden and on the basis of analyses within the NOREX Index Group. The revised rules will be published in continuation of this announcement, but do not become effective until 1 July 2003.

Changes in MSCI and Standard & Poor's Global Industry Classification Standard (GICS)

Based on MSCI and Standard & Poor's annual review of GICS, a number of changes on the industry group, industry and sub-industry levels (see appendix 1) will become effective on 1 May 2003. Following this date the GICS model will comprise 10 sectors, 24 industry groups (previously 23), 62 industries (previously 59) and 132 sub-industries (previously 123). The changes were announced on the MSCI and S&P's websites on 3 December 2002.

The final changes to the individual companies' position in the classification will be adopted by MSCI and S&P and published not later than 15 April 2003. The changes in the classification of the listed companies become effective on 1 May 2003.

Changes in the Copenhagen Stock Exchange's indices resulting from the review of GICS are described in appendix 2