Trade subject to notification

On 29 June 2007, in connection with Orkla`s option programme, 37,500 synthetic options were exercised at a strike price of NOK 20.51 and 20,000 synthetic options were exercised at a strike price of NOK 20.56.

Primary insider Per A. Sørlie (Managing Director Borregaard AS) exercised 37,500 synthetic options to settled price of NOK 112. After this transaction Sørlie`s new holding in Orkla ASA is 39 183 shares, 37,500 options and 37,500 synthetic options.
 
Primary insider Frode S. Marthinsen  (SVP in Orkla) exercised 20,000 synthetic options to settled price of NOK 112. After this transaction Marthinsen`s new holding in Orkla ASA is 16,628 shares, 100,000 options and 40,000 synthetic options.
 
A total of 8,681,345 options in Orkla have currently been issued. Moreover, Orkla has an exposure through a cash-settled financial derivative of 1,400,000 underlying shares in the hedge-position related to the remaining 796,500 synthetic options of the cash bonus programme.
 
Orkla holds 10,630,460 of its own shares.
 
 
 
Contact:
Rune Helland, Investor Relations
Tel.: +47 2254 4411