Trade subject to notification - Anders Berggren

25.11.2005: On 24 November 2005, in connection with Orkla's option programme, 9,000 options were exercised, respectively 5,000 at a strike price of NOK 130 and 4,000 at a price of NOK 127.

Anders Berggren, Senior Vice President Financial Investments, exercised the above-mentioned options and, at the same time, sold 9,000 shares at a price of NOK 250.06.  Moreover, close associate to Anders Berggren has sold and he has bought 571 shares in Orkla ASA at a price of NOK 251.  His, inclusive close associates, new total holding in Orkla is 4,671 shares, 19,000 options in Orkla shares and 5,000 synthetic options.
 
After the transaction a total of 1,502,975 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 420,500 synthetic options of the cash bonus programme.
 
Orkla holds 2,057,674 of its own shares.