Options issued

According to the resolution adopted by the General Meeting on 23 April 2009, 6,525,000 options for executive management and key personnel have been issued today. According to Orkla's option regulations the exercise price is set 10 % higher than close price the day after the release of the first quarter results. This gives an exercise price of NOK 52.36. The options have 6 years maturity terms, and may be exercised in the last three years.

The list of primary insiders that this transaction concerns is attached herewith.

After these transactions, the total number of options issued in Orkla shares is now 16,936,000 in addition to 134,000 synthetic options in the remaining part of the cash bonus programme. Orkla has a hedge through a cash-settled financial derivative of 900,000 underlying shares related to the option programmes.
Orkla owns 11,917,004 treasury shares.

Orkla ASA
Oslo, 22 May 2009
Ole Kristian Lunde, SVP Corporate Communication, Tel: +47 909 43135