Trade subject to notification - exercised options

On 31 August 2004, Orkla exercised 9,333 options at a strikeprice of NOK 135.

A total of 1,892,141 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 6,894,308 shares.
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