Sale of Orkla’s hydropower assets in Salten closed

We refer to the notice to the Oslo Stock Exchange dated 5 October 2009 regarding Orkla-owned Elkem’s sale of its hydropower plants in Salten and Bremanger.

The shares in Elkem Energi Siso AS and Elkem Energi Lakshola AS (the power plants in Salten) was sold to Norsk Vannkraftproduksjon AS to a sale price of NOK 4,300 million. This transaction is today, on 4 January 2010, closed.  

Norsk Vannkraftproduksjon AS is owned by NTE Energi AS, a wholly owned subsidiary of Nord-Trøndelag Elektrisitetsverk Holding AS, and Østfold Energi AS on a 50/50 basis.

Orkla ASA

Oslo, 4 January 2010

Media contact:

Johan Chr. Hovland, Senior VP, Elkem Energi and SVP Public Affairs, Elkem AS,

Tel.: +47 91 76 34 91

Investor Relations contact:

Siv Merethe S. Brekke, Tel: +47 2254 4455

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)