Annual General Meeting

The Annual General Meeting of Orkla ASA was held on Thursday, 3 May at 3 p.m. in Sarpsborg.

Points no. 1, 2, 3, 4, 6 and 7 on the agenda were adopted unanimously.

The authorisation of 6 May 1999 for the Board of Directors to increase share capital through new share subscriptions was renewed. The Board of Directors is authorised to increase share capital through new share subscriptions with an aggregate nominal value of up to NOK 90,000,000, divided between a maximum of 14,400,000 shares, each with a nominal value of NOK 6.25. This authorisation may be used for one or more share issues.

The authorisation of 4 May 2000 for the Board of Directors to acquire the company's own shares was renewed. The General Meeting of Orkla ASA authorised the Board of Directors to permit the company to acquire shares in Orkla ASA with a nominal value of up to NOK 81,250,000 divided between a maximum of 13,000,000 shares. The amount that may be paid per share shall be no less than NOK 20 and no more than NOK 500. The Board of Directors shall have a free hand with respect to methods of acquisition and disposal of the company's own shares. This authorisation replaces the authorisation granted by the General Meeting on 4 May 2000 and shall apply from 4 May 2001 until 3 November 2002.

Under the agenda points 5 and 8 the General Meeting adopted the following:

The shareholders elected, according to the Election Committee's proposal, the following persons as members and deputy members to the Corporate Assembly:

Members:
Svein Erik Amundsen, CEO Bergesen (re-elected)
Johan Andresen, CEO Tiedemanns Holding (new)
Harald Arnkværen, lawyer (new)
Kurth Augustson, conculting (new)
Elisabeth Grieg, managing director Grieg International (new)
Marianne Lie Harg, former CEO Vattenfall (new)
Jan Kildal, CFO Norske Skog (new)
Bjørn Kristoffersen, managing director KLP (new)
Tore Lindholt, CEO Folketrygdfondet (re-elected)
Svein Rennemo, consulting (new)
Anniken Thue, director National Gallery (new)
Bjørn Trondsen, CEO EDB Business Development (new)
Allan Åkerstedt, managing director Storebrand Kapitalforvaltning ASA (re-elected)
Svein Aaser, CEO DnB (new)

Deputy members:
Astrid Sørgård, director Benefit network ASA (new)
Terje Venold, CEO Veidekke ASA (new)
Atle Eide, CEO Kværneland ASA (new)
Gun Værsted, CEO Vital Forsikring (new)
Niels Stolt Nielsen, CEO Stolt Sea farm Holding plc (new)
Margareth Øvrum, director Statoil (new)


The proposal from Canica that the reports of inquiry that have been compiled by the investigation committee set up by the Board of Directors should be handed over to the Corporate Assembly was adopted.