Trade subject to notification - exercised options

11.11.2004: On 10 November 2004, in connection with Orkla's option programme, 6,666 options were exercised in Orkla shares at a strike price of NOK 135.

A total of 1,730,846 options in Orkla 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 6,780,012 own shares.