Reference is made to the announcement made byNorwegian 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 whichAvolon Holdings Limited holds an interest in the above shares includeChatsworth Aviation Limited .Avolon Holdings Limited is 70% owned by an indirect subsidiary ofBohai Leasing Co., Ltd. , a public company listed on theShenzhen Stock Exchange (SLE: 000415) and 30% owned byORIX Aviation Systems , a subsidiary ofORIX Corporation which is listed on theTokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). This notification is made pursuant to Section 4-3 of theNorwegian Securities Trading Act.
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