In order to facilitate employee ownership in the bank the board of Sparebanken
Sør has decided to continue the savings program for full-time employees in the
bank.

Full-time employees in the bank are invited to buy equity certificates in the
bank for amounts between NOK 15,000 and NOK 65,000, with a 20% discount to the
market price. The purchase is financed by deducting an equal amount from the
salary over the next 12 months. The discount is given subject to a 24-month lock
up period.

The savings program is implemented as a resale where the bank will sell from its
own holdings of equity certificates. If the bank's employees order a higher
number of equity certificates in the savings program than the bank's own
holdings, the bank will carry out a buyback of equity certificates in connection
with the savings program.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

For further information, please contact:
Steinar Vigsnes, CFO, tlf: 906 13 135

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