First quarter 2008

HIGHLIGHTS

• Production targets were largely met
• Revenue growth of 10 percent
  • NOK 1,771 million versus NOK 1,616 in the first quarter 2007
• EBITDA declined by 15 percent, mainly due to higher expansion cost and currency translation effects
  • NOK 742 million versus NOK 869 million in the first quarter 2007
  • EBITDA margin of 42 percent in the first quarter
  • Expansion cost of NOK 82 million in the quarter
• EBIT declined by 21 percent
  • NOK 579 million versus NOK 737 million in the first quarter 2007
• NOK 2 billion wafer contract signed with existing wafer customer in April
• Acquired 20 percent of US downstream player on April 11
• Production and financial targets for 2008 remain intact