UNQUOTE

NORWAY - Argentum delivers record profits

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Norwegian Argentum has announced record results. The state-owned fund-of-funds generated EBIT of NOK 472m and net profits of NOK 452m in 2005. In Q1 2006, it recorded net profits of NOK 175m.

Argentum was established in 2001 and due to the record profits its capital under management has increased from NOK 2.4bn to NOK 3.1bn. 'Even though Argentum is in an early investment and development phase, the rusults prove that its fund-of-funds model work,' says Joachim Høegh-Krohn, managing director of Argentum.
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