Contemplating issuing Tier 1 and Tier 2 capital

Protector Forsikring ASA is considering to issue a perpetual Tier 1
and a dated Tier 2 bond issue, callable and with floating rate. The
total volume will be up to NOK 750 million. The purpose of the
bonds will be to optimize and strengthen the company's capital
structure in a period where it expects significant growth.

Protector has appointed Nordea Markets and Pareto Securities as
Arrangers for the bond issue.

The company is planning to host investor meetings on the following
dates and venues:

Monday 20 March: Helsinki and Stockholm
Tuesday 21 March: Oslo
Wednesday 22 March: Bergen

The presentation for the investor meetings is available at
www.protectorforsikring.no.

Issuance is subject to customary approval from the Financial
Supervisory Authority.

Contact persons Protector Forsikring ASA:

CEO: Sverre Bjerkeli, mobile: +47 928 38 072
CFO: Vibeke Krane, mobile: +47 975 71 784
Chief Investment Officer: Cathrine Foyn, mobile: +47 955 22 012