Trade subject to notification - options

26.01.2005: On 25 January 2005, in connection with Orkla's option programme, 12,000 options were exercised at a strike price of NOK 135.

A total of 1,885,846 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 6,494,738 own shares.