Trade subject to notification - exercised options

03.12.2004: On 2 December 2004, in connection with Orkla's option programme, 3,334 options were exercised in Orkla shares at a strike price of NOK 135.

A total of 1,823,679 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 6,751,345 own shares.