ELKEM ASA - Statement of the Board of Directors concerning Orkla's offer pursuant to the Securities Trading Act

17 February 2005: The Board of Directors of Elkem ASA has today published its statement (issued pursuant to section 4-16 of the Securities Trading Act) concerning the mandatory offer by Orkla ASA to purchase all the remaining shares in Elkem ASA, cf. the offer document dated 7 February 2005.

The statement of the Board of Directors of Elkem ASA may be found on the Elkem ASA website (www.elkem.com) and under Elkem's notices to the Oslo Stock Exchange on the
OSE website (www.ose.no), and on the Orkla ASA website (www.orkla.com) under "Elkem/Sapa".