StatoilHydro

StatoilHydro (OSL:STL) Stavanger, Norway - 29 October 2008. StatoilHydro ASA announced today that it is inviting holders of certain of its outstanding debt securities to approve, by separate extraordinary resolutions, proposed amendments to the terms and conditions (the "Conditions") of each series of the Notes (as defined below). Adoption of the proposed amendments would permit StatoilHydro ASA to transfer legal ownership of its Norwegian Continental Shelf assets to StatoilHydro Petroleum AS, its wholly-owned subsidiary, thereby simplifying the asset structure of StatoilHydro ASA's group companies (the "Group"). This transfer would centralize the Group's Norwegian Continental Shelf assets in a single legal entity and is expected to reduce the administrative and management burden of holding similar assets across separate legal entities. The resulting group structure would be customary for oil and gas companies, including the Group's market peers. In connection with such transfer, S ...

StatoilHydro (OSL:STL) Executive vice president for Exploration and Production Norway (EPN), Tore Torvund, and executive vice president for Projects, Morten Ruud, are resigning from their present posts and StatoilHydro's corporate executive committee with effect from today.

StatoilHydro (OSL:STL) The shutdown of the rich gas pipeline between Kvitebjørn and Kollsnes will impact StatoilHydro's production for the remainder of the year.

StatoilHydro (OSL:STL) Hilde Merete Aasheim is leaving StatoilHydro ASA for a position as executive vice president for Aluminium Metal in Norsk Hydro ASA.

StatoilHydro (OSL:STL) THIS PRESS RELEASE IS NOT BEING TRANSMITTED INTO ITALY

StatoilHydro (NYSE:STO) StatoilHydro ASA (OSE: STL, NYSE:STO) second quarter 2008 result was influenced by high production and high prices. Net income in the second quarter of 2008 amounted to NOK 18.9 billion, up 36% compared to NOK 13.9 billion in the second quarter of 2007. Net income in the first half of 2008 amounted to NOK 35.0 billion, compared to NOK 23.9 billion in the first half of 2007.

StatoilHydro (NYSE:STO) MEETING OF HOLDERS OF THE EUROPEAN SECURITIES IS ADJOURNED

StatoilHydro (NYSE:STO) CONSENT SOLICITATIONS FOR CERTAIN OTHER OUTSTANDING DEBT SECURITIES ARE PROCEEDING