Trade subject to notification - Anders Berggren

15.08.2005: On 12 August 2005, in connection with its option programme, Orkla exercised 4,000 options at a strike price of NOK 127 and 5,000 at NOK 130.

The transaction concern the following primary insider:
-  Anders Berggren, exercised 4,000 at a price of 127 and 5,000 shares at NOK 130 and, at the same time, sold 9,000 shares at a price of NOK 255.99.  His new total holding in Orkla is 4,671 shares, 28,000 options in Orkla shares and 5,000 synthetic options.
 
A total of 1,566,875 options have currently been issued.  Moreover, Orkla has an exposure through a cash-settled financial derivative of 450,000 underlying shares in the hedge position related to the remaining 430,500 synthetic options of the cash bonus programme.
 
Orkla currently holds 6,162,478 shares.  The resolution adopted by the Annual General Meeting to amortise 4,016,071 shares is expected to be carried out in August this year.  When the amortisation has been implemented, Orkla will hold a total of 2,146,407 of its own shares.