Options to Hydro's Top Management OSLO, Norway, Sept. 2 /PRNewswire-FirstCall/ -- As a continuation of the company's short- and long-term incentive systems, Hydro's Board has agreed to allocate options to around 35 persons in Hydro's top management. The distribution will be as follows: 15,000 options for the President and CEO, 7000 - 10,000 for the remaining four members of Corporate Management, and 2500 - 3500 for the other top executives in this scheme. The share price for the option scheme for 2004 has been set at NOK 476 per share. These options can be exercised from 1 July 2007, at the earliest, up to 30 June 2010, at the latest. The exercise of options is conditional on a commitment to a long-term shareholding in the company. A maximum limit on the gain from exercising options has been set for options allocated in 2004 and after. This is equivalent to the basic salary of the executive in question for the year in which the gain is realized. Certain statements in this press release are or may constitute "forward- looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not in the nature of historical facts may be deemed to be forward-looking statements and may contain identifying words such as "believes", "anticipates", "plans", "expects" and similar expressions. These forward looking statements are based on Hydro's current expectations, assumptions, estimates and projections about the company and the industries in which it engages in business. All forward-looking statements involve risks and uncertainties. For a detailed description of factors that could cause Hydro's actual results to differ materially from those expressed in or implied by such statements, please refer to its annual report on Form 20-F for the year-ended December 31, 2002 and subsequent filings on Form 6-K with the U.S. Securities and Exchange Commission. With respect to each non- GAAP financial measure Hydro uses in connection with its financial reporting and other public communications, Hydro provides a presentation of what Hydro believes to be the most directly comparable GAAP financial measure and a reconciliation between the non-GAAP and GAAP measures. This information can be found in Hydro.s earnings press releases, quarterly reports and other written communications, all of which have been posted to Hydro's website (http://www.hydro.com/). Contact Kristin Brobakke Telephone (+47 )22 53 27 44 Cellular (+47) 91 84 06 81 E-mail Contact Idar Eikrem Telephone (+47) 22 53 32 73 Cellular (+47) 95 02 83 63 E-mail Norsk Hydro ASA Drammensveien 264 N-0240 Oslo Norway Telephone: (+47) 22 53 81 00 Fax: (+47) 22 53 27 25 http://www.hydro.com/ DATASOURCE: Norsk Hydro CONTACT: Kristin Brobakke, +47-22-53-27-44, Cell, +47-91-84-06-81, or , or Idar Eikrem, +47-22-53-32-73, Cell, +47-95-02-83-63, or , or Norsk Hydro ASA, +47-22-53-81-00, Fax: +47-22-53-27-25 Web site: http://www.hydro.com/

Copyright