Trade subject to notification - exercised options

20.10.2004: On 19 October 2004, in connection with Orkla's option programme, 4,000 options were exercised in Orkla shares at a strikeprice of NOK 135.

A total of 1,737,512 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 6,786,678 shares.