Trade subject to notification

Group Chief Executive of Orkla ASA, Mr. Jens P. Heyerdahl d.y. including close associates has in connection with the rights issue of Orkla ASA been granted 331,956 subscription rights and has on November 12 1999 subscribed for 47,421 new shares at nominal value NOK 6.25. After the rights issue his total shareholding consists of 475,597 shares. In addition Mr. Heyerdahl owns 10% of Oktav Invest AS which in total owns 5,025,696 shares in Orkla (4,188,084 A-shares and 837,612 B-shares).

Managing Director of Orkla ASA, Mr. Tom Vidar Rygh has in connection with the rights issue of Orkla ASA been granted 47,624 subscription rights. He acquired on November 8 1999 4,008 subscription rights and has on November 12 1999 in total subscribed for 7,376 new shares at nominal value NOK 6.25. After the rights issue his total shareholding consists of 60,000 shares.

Member of the Board of Directors of Orkla ASA, Mr. Odd Gleditsch jr. has in connection with the rights issue of Orkla ASA been granted 400 subscription rights and has on November 12 1999 subscribed for 57 new shares at nominal value NOK 6.25. After the rights issue his total shareholding consists of 1,897 shares.

Member of the Board of Directors of Orkla ASA, Mr. Truls Holthe has in connection with the rights issue of Orkla ASA been granted 6,300 subscription rights and has on November 12 1999 subscribed for 900 new shares at nominal value NOK 6.25. After the rights issue his total shareholding consists of 30,496 shares.