ORK - Trade subject to notification

As of 7 October 1999, Oktav Invest a.s., in which Orkla has an 80% interest, held 4,188,084 Orkla A shares and 837,612 Orkla B shares. The prospectus concerning the ongoing preferential rights issue in connection with the removal of the distinction between A shares and B shares stated that the subscription rights allocated to Oktav Invest would be sold on the market. Oktav Invest has decided to sell only 20% of its allocated subscription rights (equivalent to 837,616 subscription rights). The sale took place on 19 November at a share price of NOK 14.9812. The remaining subscription rights will not be sold. The transaction will not change the company’s holding of Orkla shares.