Bond Trustee Fees

The Issuer of Bonds pays an Annual Fee to the Bond Trustee. The Annual Fee covers the work related to the establishing and the supervision of the Bond Loan according to the Bond Agreement.

The Annual Fee is payable in advance and falls due for the first time together with the issue of the Bonds, and subsequently once a year.

The Annual Fee will be adjusted annually in accordance with the Norwegian Consumer Price Index.

The Issuer will be charged separately for work related to extraordinary situations under the Bond Agreement or any other Finance Document (as defined in the Bond Agreement). The Work Fee will be charged on a case to case basis, by hourly rate or based on assessed fixed rate.

The Issuer will also be charged separately for Bondholders’ meetings, and will be charged a Fixed Meeting Fee which includes preparation of standard documents for the meeting, the use of the premise of the Bond Trustee related to the meeting and the Bond Trustee’s participation at the meeting.

Schedule for the Annual Fee (all prices in NOK);

Issuers within the Finance sector – loans with fixed interest or FRN and standard loan agreement and Covered Bonds;
Number of running issues	< NOK 100 mill.	>= NOK 100 mill.
0 - 5	17 000	27 000
6 - 10	14 000	22 000
11 - 25	12 000	17 000
> 25	12 000	12 000
> 50	7 000	7 000

Finance sector – subordinated loans and tier 1/ hybrid capital;
< NOK 20 mill	>= NOK 20 mill and < NOK 100 mill	>= NOK 100 mill
22 000	27 000	32 000

Norwegian local government;
Tenor of the bond	< NOK 100 mill	>= NOK 100 mill.
<= 3 year	12 000	17 000
> 3 year	17 000	22 000

Others, including all non – Norwegian Issuers;

Standard		40 000 - 500 000
Subordinated		40 000 - 500 000
Convertible		60 000 - 500 000

Additional Fees (may deviate for certain cases);

Tranche with addendum		from 2 000*
Tap Issue Fee		from 6 000*
Linked notes**		Individual
Bondholders’ Meeting: Fixed Meeting Fee		20 000*
Work Fee, per hour		from 1000,- to 3500,-
Non-recurrent fee, *Structured product

CD's (Certificate of Deposit)

The CD Trustee Fee
The Issuer of CD's pays a CD Trustee Fee in advance to the CD Trustee.

Schedule for the CD Trustee Fee (all prices in NOK);
FIX Standard	FIX Negative pledge
4 000,-	6 000,-
FRN Standard	FRN Negative pledge
6 000,-	8 000,-
For custom – made CD Agreements, the CD Trustee Fee will be determined on an individual basis.

PROSPECTUS

The preparation of a prospectus yields a fee to Norsk Tillitsmann related to the amount of work involved.

Schedule for the Fee related to the preparation a prospectus (all prices in NOK);

Norwegian finance companies:
Registration documents:       NOK 40 000
Supplement to prospectus:     from NOK 5 000
Securities document:                NOK 5 000

Other Norwegian companies:
Registration documents:       from NOK 70 000
Supplement to prospectus:     from NOK 5 000
Verdipapirdokument:                from NOK 5 000

Individual pricing for unaccustomed and complicated prospectus.

Non- Norwegian companies:
Individual pricing for non – Norwegian companies.