BRANDED CONSUMER GOODS WEAKER THAN AFTER FIRST FOUR MONTHS OF 1997

In his report to Orkla`s Annual General Meeting today, Group CEO Jens P. Heyerdahl d.y. said that Orkla had started the year with overall profit before non-recurring items at the same level as last year, but profit from the Nordic branded consumer goods business was lower than at the same time in 1997. Food products and beverages in Norway and Sweden in particular have so far achieved disappointing results. The Chemicals business started the year better than last year. Orkla`s equity portfolio has performed at the same rate as the market as a whole and realised gains were on a par with 1997.

Mr. Heyerdahl, who also reported on the Group`s internationalisation process, said that Orkla is aiming for further growth for the branded consumer goods business on East European markets.

Ref:
Lisbeth Lindberg, Director of Information and Investor Relations
Tel: +47 22 54 44 23/22 54 40 00
Astrid Løken Øyehaug, Investor Relations
Tel: +47 22 54 44 25
Harald Ullevoldsæter, Vice President Financial Planning and Analysis
Tel: +47 22 54 44 20