The claim is filed with New York, United States as venue, and under US jurisdiction.
DNO is of the opinion that the claims are groundless and strongly rejects the claims. DNO has engaged US legal counsel.
DNO is currently preparing to file a claim in Norway and/or USA against Cambridge in the amount of approximately USD 6 million for incurred losses plus damages related to the high yield bond process in 2003.
DNO ASA
14 January 2005
Contact:
Helge Eide
Managing Director.
Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80