Svein Richard Brandtzaeg new chief executive of Hydro

OSLO, NORWAY, Jan 12 (MARKET WIRE) --

Svein Richard Brandtzaeg has been named chief executive of Norsk Hydro
ASA, following the resignation of Eivind Reiten, effective March 30,
2009. Reiten has informed the Board of Directors that he wishes to step
down after nearly eight years heading the company.

"The board regrets that Eivind Reiten has decided to resign, but has
respect and understanding for his decision in light of the long period he
has led the company," says Hydro's chair of the board, Terje Vareberg.

"At the same time, the board is very pleased that a very capable and
experienced Hydro leader has agreed to succeed Reiten."

Svein Richard Brandtzaeg, 51, is an executive vice president in Hydro
with responsibility for the Aluminium Products business area, Hydro's
aluminium semi-fabrication activities with about 16,500 employees.
Brandtzaeg, who holds a Ph.D. in chemistry from the Norwegian University
of Science and Technology (NTNU) in Trondheim, Norway. He is also head of
the Hydro Technology Board.

Since he began with the aluminium company Ardal og Sunndal Verk in 1985,
Brandtzaeg has had a number of leadership positions throughout the value
chain in Hydro's aluminium activities - both in metal production and
semi-fabrication, and in Norway and abroad.

"Brandtzaeg has uncommonly broad expertise and very solid experience from
Norwegian and international aluminium business, and he has shown himself
to be a strong and extremely dynamic leader throughout 23 years in
Hydro," says Vareberg.

Reiten resigns after eight years as chief executive

Eivind Reiten, 55, has worked in Hydro since 1986, and has led the
company since May 2001.

"I have always considered seven to eight years as an appropriate horizon
for my time as head of Hydro. This spring will be my eighth year, so now
the time is right to make way for a new leader," Reiten says.

In the course of nearly 23 years in Hydro, Reiten has had a number of
leadership positions in aluminium, magnesium, agriculture, oil and
energy. He has led Hydro through the most wide-ranging restructuring of
the company's entire 103-year history, from an industrial conglomerate to
today's aluminium and energy company.

"Eivind Reiten has made his mark as one of Norway's foremost industrial
leaders. As chief executive in Hydro, he has been in the front lines of a
demanding, but wholly necessary, restructuring in the company, which has
laid the foundation for internationally competitive activities in
agriculture, oil and energy, and aluminium," says Vareberg.

Reiten has also served as oil and energy minister, fisheries minister,
and under-secretary of the finance ministry in the Norwegian government.

Under Reiten's contract with Hydro, which was established in 2001 and
renegotiated in 2004, he will receive three years' salary. Complete
details regarding compensation are included in the annual report on the
company's web site www.hydro.com and Note 11 to the consolidated
financial statements "Employee and management remuneration".

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

Copyright Copyright Hugin AS 2009. All rights reserved.

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