VPS And Oslo Børs Have Terminated Their Discussions On A Possible Merger

VPS Holding ASA and Oslo Børs Holding ASA have held discussions over some time with a view to a merger of the two entities. Reference is made in particular to the joint press release of 21 November 2003. The background for this was a wish to evaluate the overall effects of an integration of this part of the securities value chain in Norway without creating any obstacles to either party's individual participation in international collaboration or integration projects.

Following comprehensive and constructive discussions, the parties have identified attractive strategic prospects for an integration of VPS and Oslo Børs. However the parties' negotiation teams have not found it possible to agree on the terms of a merger agreement at the current time. VPS and Oslo Børs have therefore decided to terminate these negotiations.

The parties intend to continue to maintain close contact in order to be able to resume discussions in the event of any change in the basis for negotiations.