WealthNotes linked to the S&P 500 130-30 Index (NYSE Ticker: WNF)

2008-07-27T22:07:00.000-04:00

WEALTHNOTES Exchange-Traded Notes (ETNs) are senior, unsecured debt securities that provide exposure to the S&P 500 130/30 Total Return Strategy Index. The issuer of the ETNs is Eksportfinans ASA, which has a current credit rating of AAA from Moody's (negative outlook) and AAA from Fitch Ratings, and AA+ from Standard & Poor's.

The S&P 500 130/30 Total Return Strategy Index (the Index) was developed by Standard & Poor's to follow an investment strategy in which the portfolio commits 30% of its capital to offsetting allocations in short and leveraged long positions. 130/30 strategies, such as the Index, are sometimes referred to as "enhanced active" or "active extension" strategies.

The Index establishes over- and underweight positions relative to the S&P 500 Index. The Index is rebalanced quarterly and is a market-capitalization weighted index using the S&P 500 Index weights as the benchmark as of each reference date. Constituent stocks of the Long Basket each have their weight increased by 1% relative to the S&P 500 Index, effectively equivalent to a long position in their constituent stocks, while constituent stocks of the Short Basket each have their weights decreased by 1% relative to the S&P 500 Index.

Important Disclosure:

No investment should be made without first reading the full Pricing Supplement along with the Prospectus Supplement and Prospectus dated February 5, 2007 relating to the Eksportfinans ASA U.S. Medium-Term Note Program, available at www.sec.gov.

The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-920-0884. You should always consult your investment, legal, tax, accounting and other advisors before investing.