Lysaker, 20 December 2007

Nord Pool ASA has investigated possible breaches
with the Market Conduct Rules, and has found that Imarex Energy AS, ICAP Energy
AS and Quality Energy Brokers AS has violated  the Market Conduct Rules section
2 on reporting of non-exchange transactions. 

The Market Conduct Rules states
that if a broker is to report non-exchange transactions on behalf of seller and
buyer, the broker shall report for both parties within 15 minutes of the
transaction being closed. Trades made outside trading hours shall be reported
within opening of trading hours the forthcoming trading day. The broker shall
also ensure that the transaction is reported with correct information.

The
abovementioned brokers have during September and October 2007 failed to report
a number of non-exchange trades inside the time limits set out in the Market
Conduct Rules. Based on investigations undertaken by Market Surveillance, the
cases were sent to the Disciplinary Committee. In accordance with the
recommendation given by the Disciplinary Committee, the board of Nord Pool ASA
has decided to give written warnings to Imarex Energy AS, ICAP Energy AS and
Quality Energy Brokers AS. 

Stricter enforcement of the reporting rules
In
order to reduce the number of breaches with the reporting rules Nord Pool's
Market Surveillance department has implemented a stricter enforcement of these
rules. The sanctions given to the abovementioned brokers are a part of this
process. In the event of future repeated or material breaches with the
reporting rules, the use of sanctions in the form of violation charges must be
expected.
For further information, please contact Nord Pool ASA: 

Erik Thrane,
General Counsel, phone + 47 67 52 80 89

Lars Galtung, Vice President
Communications, phone: + 47 67 52 80 80