New version of Portfolio account added

* Launch of the Portfolio account with insurance in both Norway and Sweden
 
* Gross subscriptions of more than NOK 1.2 billion
* Operating earnings of NOK 16 million
* Approximately 50 per cent of client's equity received from BUH1 reinvested
* 29 per cent of client's equity invested through Portfolio account
 
Stock exchanges around the world have been characterized by major turbulence
during the last few months, and many have seen their investments decrease in
value. Continuous economic challenges in the Euro zone, combined with
uncertainty as to whether discussions in the US Congress would lead to an
agreement to raise the nation's debt ceiling or not, added further uncertainty
to the world's financial markets during the quarter.
 
We constantly work on developing and launching improved investment solutions
that are adapted to the prevailing market conditions, the latest being
"Portfolio account with insurance" ("PA-I").
 
This investment solution, which is a further development of the Portfolio
account, implies that clients who choose the PA-I may set up an individual
investment portfolio, consisting of Acta's total investment product offering,
including the alternative investment universe.  In line with the tax-regulations
for capital insurance, the clients are able to reallocate the portfolio without
tax-consequences and postpone the payment of tax until the PA-I is paid out, and
thus have a larger amount available for investments. We have high expectations
for this way of holding investments, and believe that the Portfolio account with
insurance will be suitable and attractive for many of our clients.
 
We are encouraged to see that approximately half of our satisfied clients have
chosen to reinvest a large part of the equity they received following the real
estate transaction where companies owned by our clients sold real estate for
more than SEK 7 billion. Approximately 50 per cent of the equity distributed to
shareholders in BUH1 was reinvested in products offered by Acta, and this
contributed positively to gross subscriptions of more than NOK 1.2 billion in
the second quarter of 2011.
 
The Acta Group had operating earnings of NOK 16 million in the second quarter of
2011. This represents an improvement of 60 per cent compared to the previous
quarter. Adjusted for the correction made to the group's VAT accounts of NOK 19
million, and one-off costs related to the Swedish organisation, operating
earnings ended at NOK 3 million. Even if we are not completely satisfied with
the financial results, the underlying operations are showing signs of
improvement. Combined with sound cost control, we are now focusing on increasing
our revenue, and we believe 2011 will be an acceptable financial year given all
the major adaptations we have carried out.
 
A complete English version of the interim report and the presentation of the
2nd quarter and 1st half of 2011 are attached on  www.newsweb.no and on Acta's
Investor Relations web pages www.acta.no.
 
Geir Inge Solberg
CEO
 
Contact details:
Geir Inge Solberg, Chief Executive Officer, +47 908 78 043
Christian Tunge, Chief Financial Officer, +47 450 65 850
Rune Wangsmo, Public Relations Director, +47 995 41 507
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
 
Presentation: 
http://hugin.info/132742/R/1538841/470076.pdf
 
2nd quarter 2011: 
http://hugin.info/132742/R/1538841/470075.pdf
 
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Source: Acta Holding ASA via Thomson Reuters ONE
 
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