SHAREHOLDER INFORMATION

Investor Relations Policy
I.M. Skaugen ASA aims to keep shareholders, analysts and investors updated to the Company's operations in a timely fashion, both by releasing information regularly and holding presentations. The financial calendar showing publication dates for the company's quarterly interim reporting is available on our website.

I.M. Skaugen has for several years focused on achieving and maintaining a transparent and accountable financial reporting system. Accurate and thorough information is vital for securing reasonable pricing for the company, based on underlying values and earnings. It is our policy to report promptly, within 10 working days of the end of each quarter.

Open investor presentations are arranged on a regular basis. The CEO reviews the results and comments on the performance as well as the outlook. The Group's CFO also participates at these presentations, as do other members of the corporate management from time to time.

These presentations are available at the Group's website. Beyond this, the Group maintains a regular dialogue with and conducts presentations to analysts and investors.

Shareholder Policy
The company's shareholder policy aims to create shareholder value through our emphasis on ãCost and Service Leadershipä, constantly improving customer service and focusing on operational efficiency, thereby growing the business profitability.

I.M. Skaugen's goal of creating value for its shareholders means a continuous focus on ensuring that the company's balance sheet and its financing - inclusive of its equity - is adapted to the company's objectives, strategy and risk profile.

The Board of Directors has adopted a financial policy that, amongst others, has targeted an equity ratio (book equity in percent of total assets) of no less than 30 per cent.

The company favors a dividend policy based on financial performance, but the increase in share price should, over time, account for the largest part of the return on shareholder investment. When appropriate, and particularly when the share price is considered low, the company aims to buy back its own shares from the market.

In correspondence with the Norwegian code of practice for corporate governance shareholders have the opportunity at each annual general meeting to approve any mandate to the Board of Directors to issue shares or purchase own shares.

The IMS Share - IMSK

Share Split
To increase the liquidity of the company's shares, Ordinary Annual General Meeting on 1st March, 2006 approved a split of the IMSK share. One old share yields four new shares with a face value of NOK15.00 per share. The last day for trading IMSK shares with face value NOK60.00 per share was 1st March, 2006 and the first day for trading IMSK shares with face value NOK15.00 per share was 2nd March, 2006. At the end of 2006, the share capital was NOK409,138,230 and the number of shares was 27,275,882.

Share performance
The average share price in 2006 was NOK49.34 (vs. NOK48.88 in 2005) with a low of NOK40.50 in September and a high of NOK63.50 in January. Since the beginning of 1997 the IMSK share price has increased from NOK23 to NOK44, an increase of 91 per cent. IMS has paid out NOK539 million (or approximately USD78.17 million) to its shareholders since 1997. The annual average yield since 1997, including dividends paid, has been 19 per cent.

		2006	2005	2004	2003
Share price (closed)e)	NOK	44.00	58.90	38.60	35.50
No. of shares outstandingstanding	1 000	27 186	25 553	23 909	21 976
Share capital	MNOK	409	385	359	330
Market capitalization	MNOK	1 196	1 505	923	780
Total volume	1 000	3 508	3 776	1 476	2 108
Total no. of tradeses		2 273	1 381	730	1 045
No. of shareholdersers		2 459	2 622	2 602	2 774
Dividend paid out *ut*	NOK	2.50	1.88	1.75	5.00
Adjusted for 4 - 1 share split on 2nd March, 2006 * Dividend for 2006 was paid in Dec 2005

IMSK 20 Largest Shareholders shareholders
Name	31.12.2006
	Shares	%
Alcides AS	9 745 996	35.73
SES Holding AS	2 800 000	10.27
Verdipapirfond Odin	1 866 500	6.84
Skagen Vekst	1 728 664	6.34
Skandinaviska Enskil A/C clients account	1 545 116	5.66
Verdipapirfond Odin	650 000	2.38
AP Moller-Maersk A/S	518 400	1.90
MP Pensjon	500 000	1.83
A/S Bemacs	400 000	1.47
E-Invest AS V/Erik Eik	392 724	1.44
Orkla ASA	315 300	1.16
Bratrud Gudmund Joar	291 200	1.07
Steen Tore B	280 000	1.03
SIS Segaintersettle account 2	273 064	1.00
Gironde - A/S	270 000	0.99
JPMorgan Chase Bank clients treaty account	266 000	0.98
Thelogos Investment	254 000	0.93
Tekas AS	251 904	0.92
Thomas Fearnley, Stiftelsen Heddy og Nils Astrup	240 000	0.88
Bear Stearns Securit A/C customer Safe KE	213 780	0.78
Total 20 largest shareholders	22 802 648	83.60
Others	4 473 234	16.40
Total shares	27 275 882	100.00

* Adjusted to reflect the 4-for-1 share split on 2nd March, 2006.