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The President and
CEO’s Message
Shareholder Information
The VPS Group
Market Developments
The Board of Directors’ Report
Profit and Loss Account
Balance Sheet
Funds Flow Statement
Notes to the Accounts
Auditor’s Report
Supervisory Committee’s Report
Registrations at 31 December
Corporate Governance
Governing Bodies

REGISTRATIONS
AT 31 DECEMBER


Number
Market value (Mill NOK)

2003
2004
2004
2003
1 601
1 793
BONDS
87 147
89 389
Norwegians holding bonds
22 037
19 693
6 770
6 419
Norwegian enterprises holding bonds
484 721
448 387
1 640
1 581
Foreign investors holding bonds
65 992
78 120

95 557
97 389
Total number of bond holders
Total market value, bonds
572 750
546 200

506
385
SHORT-TERM BONDS
16
14
Norwegians holding short-term bonds
21
151
449
378
Norwegian enterprises holding
short-term bonds
122 425
127 769
33
35
Foreign investors holding short-term bonds
4 766
10 282

498
427
Total number of short-term bond holders
Total market value, short-term bonds
127 212
138 202

1 181
1 176
LIMITED COMPANIES
423 375
416 497
Norwegians holding shares
57 361
43 260
29 649
27 666
Norwegian enterprises holding shares
686 101
531 214
18 800
18 947
Foreign investors holding shares
337 121
213 591

471 824
463 110
Total number of shareholders
Total market value, shares
1 080 583
788 064

25
28
PRIMARY CAPITAL CERTIFICATES
29 008
30 056
Norwegians holding primary capital certificates
6 866
4 944
1 867
1 971
Norwegian enterprises holding
prim.cap.certificates
5 078
3 904
210
242
Foreign investors holding prim.cap.certificates
1 298
9 67

31 085
32 269
Total number of prim.cap.certificate holders
Total market value, primary capital certificates
13 242
9 815

601
597
MUTUAL FUNDS
479 754
467 638
Norwegians holding unit shares in mutual funds
29 190
23 295
14 792
17 200
Norwegian enterprises holding shares
in mut.funds
64 405
45 401
12 053
16 062
Foreign investors holding shares in mutual funds
6 864
2 785

506 599
500 900
Total number of shareholders
Total market value, shares in mutual funds
100 459
71 481
Total market value
1 894 246
1 553 762

3 942
3 802
DERIVATIVES
3 484*
3 866
Norwegians holding derivatives
1 765*
1 947
Norwegian enterprises holding derivatives
516*
583
Foreign investors holding derivatives

5 765*
6 396
Total number of derivative holders

DISBURSEMENTS TO INVESTORS
Interest, bonds
26 244
28 622
Instalments, bonds
88 670
68 131
Return on shares, prim.cap.certificates
29 519
24 008
Interest, short-term bonds
2 268
5 458
Redemption, short-term bonds
270 760
276 478
Return on mutual funds
67
39
Other disbursements
2 341
2 929

Total disbursements
419 869
405 668

1 230 283
1 241 812
SECURITIES ACCOUNTS
* Corrected figures


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