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STX NORWAY ANNOUNCEMENT REGARDING COMPULSORY ACQUISITION OF STX EUROPE SHARES
23.1.2009

STX Norway AS has today issued the following announcement:

STX Norway AS has today effected a compulsory  acquisition of the shares of STX Europe ASA  (`STXEUR`) not already held by STX Norway AS in  accordance with section 4-25 of the Norwegian  Public Limited Companies Act. As a result, STX Norway AS has become the owner of all the shares in STXEUR and the minority shareholders` shareholder interest in STXEUR has been converted into a claim for monetary compensation.
 
The price offered in the compulsory acquisition is NOK 45 per share which is based on the actual value of STXEUR, estimated by STX Norway AS using recognized valuation methods.
 
Any objections to or rejection of the offer price must be made on or before 23 March 2009. Shareholders who have not objected to or rejected the offered share price within this deadline, are deemed to have accepted the offer price. For the minority shareholders that accept the offer before 16.30 CET on 5 February 2009, settlement will take place on or about 12 February 2009, provided that such acceptance is received by ABG Sundal Collier Norge ASA no later than 5 February 2009 at 16:30 CET. Settlement to the shareholders whose acceptances are received after 16.30 CET on 5 February 2009, as well as to minority shareholders that do not object to or reject the offer price on or before 23 March 2009, will take place on or about 30 March 2009.

 
   
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