Reference is made to the announcement made by Norwegian Air Shuttle ASA (the
"Company" or "NAS") today regarding conversion of vendor debt to equity and new
registered share capital in relation to said conversion.

Avolon Holdings Limited has, through certain of its indirect wholly owned
subsidiaries (collectively the "Relevant Entities") an interest in a total of
168,787,395 ordinary shares in the Company, which following today's share
capital increase was reduced from representing approx. 5.15% to approx. 4.73% of
the total outstanding share capital and voting rights in NAS.

The principal Relevant Entities through which Avolon Holdings Limited holds an
interest in the above shares include Chatsworth Aviation Limited. Avolon
Holdings Limited is 70% owned by an indirect subsidiary of Bohai Leasing Co.,
Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and
30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is
listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX).

This notification is made pursuant to Section 4-3 of the Norwegian Securities
Trading Act.

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© Oslo Bors ASA, source Oslo Stock Exchange