STATOILHYDRO ASA MAKES FURTHER ANNOUNCEMENTS REGARDING ITS DEBTCONSENT SOLICITATIONS

Stavanger, Norway - July 25, 2008. StatoilHydro ASA ("StatoilHydro")
announced today bondholder approval of amendments relating to its
6.36% Notes due 2009, 9.125% Debentures due 2014, 6.80% Debentures
due 2028 and 7.15% Debentures due 2029 issued under the 1992
Indenture (each as defined below) and the 9.125% Debentures due 2014
issued under the 1994 Indenture (as defined below) by its
wholly-owned subsidiary, StatoilHydro Petroleum AS ("StatoilHydro
Petroleum"). On or about August 1, 2008, StatoilHydro will make
consent payments of $1.50 per $1,000 principal amount of the
securities to holders of such securities who properly delivered valid
and unrevoked consents on or prior to 5:00 p.m. New York City Time on
July 24, 2008.
 
On July 21, 2008, StatoilHydro had announced that holders of its
European Securities (as defined below) duly passed an Extraordinary
Resolution at the adjourned meeting of such holders on July 18, 2008,
and, accordingly, the modifications to the Trust Deed (as defined
below) referred to in the Extraordinary Resolution were implemented
with effect from July 18, 2008, following the execution and delivery
of the Sixth Supplemental Trust Deed by StatoilHydro and The Bank of
New York Mellon.  Today, StatoilHydro will make consent payments of
¤1.50 per ¤1,000 principal amount of the Euro Notes (as defined
below) and £1.50 per £1,000 principal amount of the Sterling Notes
(as defined below) to noteholders who properly furnished valid and
unrevoked consents on or prior to 5:00 p.m. Central European Time on
June 27, 2008.
 
StatoilHydro also announced today that it is extending the Expiration
Date, as described below, for holders to deliver consents and receive
a consent payment in connection with its consent solicitations for
the proposed amendments relating to the 9.00% Debentures due 2012,
7.50% Debentures due 2016, 6.70% Debentures due 2018, 7.75%
Debentures due 2023, 7.15% Debentures due 2025 and 7.25% Debentures
due 2027 issued under the 1992 Indenture (each as defined below), and
relating to the 7.25% Debentures due 2027 issued under the 1994
Indenture (as defined below). Subject to satisfaction and/or waiver
of all acceptance conditions, StatoilHydro will make consent payments
of $1.50 per $1,000 principal amount of such securities to holders of
such securities who have properly delivered valid and unrevoked
consents on or prior to 5:00 p.m. New York City Time on August 8,
2008, unless the Expiration Date of the consent solicitations for
these securities is extended. The consent solicitations for the
proposed amendments are being made upon the terms and are subject to
the conditions set forth in the consent solicitation statements dated
June 10, 2008.
 
The consent solicitations relate to (i) the indenture (the "1992
Indenture") relating to the $300,000,000 6.36% Notes due 2009 (the
"6.36% Notes due 2009"), $350,000,000 9.00% Debentures due 2012 (of
which $152,853,000 are outstanding) (the "9.00% Debentures due
2012"), $99,522,000 9.125% Debentures due 2014 (the "9.125%
Debentures due 2014"), $300,000,000 7.50% Debentures due 2016 (of
which $243,825,000 are outstanding) (the "7.50% Debentures due
2016"), $250,000,000 6.70% Debentures due 2018 (the "6.70% Debentures
due 2018"), $300,000,000 7.75% Debentures due 2023 (the "7.75%
Debentures due 2023"), $250,000,000 7.15% Debentures due 2025 (the
"7.15% Debentures due 2025"), $480,512,000 7.25% Debentures due 2027
(the "7.25% Debentures due 2027"), $250,000,000 6.80% Debentures due
2028 (the "6.80% Debentures due 2028"), and $275,000,000 7.15%
Debentures due 2029 (the "7.15% Debentures due 2029" and
collectively, the "1992 Indenture Securities"); (ii) the indenture
(the "1994 Indenture") relating to the $500,000,000 7.25% Debentures
due 2027 (of which $15,588,000 are outstanding) (the "7.25%
Debentures due 2027 issued under the 1994 Indenture"), and the
$100,000,000 9.125% Debentures due 2014 of StatoilHydro Petroleum (of
which $478,000 are outstanding) (the "9.125% Debentures due 2014
issued under the 1994 Indenture", and collectively, the "1994
Indenture Securities"); and (iii) the Trust Deed (the "Trust Deed")
relating to its £225,000,000 6.50% Notes due 2021 (of which
£1,020,000 are outstanding, the "Sterling Notes") and ¤400,000,000
6.25% Notes due 2010 (of which ¤300,000,000 are outstanding, the
"Euro Notes", and together with the Sterling Notes, the "European
Securities").
 
Merrill Lynch International, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, UBS Limited and UBS Securities LLC are acting as Joint
Solicitation Agents.  Questions with respect to the terms of the
consent solicitations should be directed to Merrill Lynch, Pierce,
Fenner & Smith Incorporated at +1 (888) ML4-TNDR (toll-free) and +1
(888) 654-8637, to Merrill Lynch International at +44 (0)20
7995-3715, to UBS Securities LLC at +1 (203) 719-4210 (collect) and
+1 (888) 719-4210 (toll free) and to UBS Limited at +44 (0)20
7567-7480.
 
Global Bondholder Services Corporation ("GBSC") has been retained to
act as Information Agent and Tabulation Agent with respect to the
consent solicitations.  Requests for assistance in completing and
delivering the consent letters, related documents, requests for
additional copies of such documents and questions relating to the
payment of the consent payments should be directed to GBSC at +1 866
387-1500 (toll-free) or +1 212 430-3774 (banks and brokers).
 
This document does not constitute an offer to exchange or sell or an
offer to exchange or buy any securities.
 
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