Buyback of shares

Yesterday, 2 December 1999, Orkla ASA purchased a total of 500,000 A shares in Orkla ASA at a price of NOK 125 per share. The shares were purchased through a stockbroker. After the transaction, the Orkla Group has a total holding of 7,702,508 shares in Orkla ASA (including 80% of the shares owned by Oktav Invest), comprising 6,426,859 A shares and 1,275,649 B shares.

Orkla intends to use its own shares for sale to employees who have purchased Orkla shares at a discount pursuant to a special offer from the company. Moreover, Orkla will always hold a small proportion of the company’s stock of its own shares to cover its obligations to its employees in connection with other share price-related bonus and savings schemes.