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Hafslund Hires Holten

Maritime Activity Reports, Inc.

February 23, 2004

Hafslund ASA has hired Ingeborg Aass Holten (42) in the role as Senior Vice President Organizational Development. Holten will be part of Hafslund ASA's Executive Committee and joins the company at the latest 1 May 2004. She will replace Trond Aker who has filled the deputy role since November 2003. Ingeborg Aass Holten joins Hafslund with professional experience from the management consulting company Accenture, where she has worked since August 1997 as Associate Partner. She has been Accenture's specialist within the Human Resources (HR) Practice and she has been responsible for HR-related projects, HR-strategies, personnel management, strategic competence management, leadership development and development of measuring and rewarding systems. Holten has professional experience from Volvo Group Norway where she was responsible for the Training and Human Resources Practice. She has also had the role as Training Manager in Securitas AS and as a Training Consultant in UNISYS (previously Burroughs). She holds a Masters in Pedagogics from the University of Oslo (1990). Holten will in the role as Senior Vice President Organisational Development be responsible for the company's competence development within Hafslund's different business areas. This role includes the superior responsibility for personnel, IT, information, real estate and administration in general.

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