Trade subject to notification - exercised options

On 2 September 2004, Orkla exercised 23,334 options at a strikeprice of NOK 135. A total of 1,868,807 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 part of the cash bonus programme.
 
Orkla currently holds 6,870,974 shares.