Trade subject to notification - options

On 10 January 2005, in connection with Orkla's option programme, 16,666 options were exercised for cash payment at a strike price of NOK 135. A total of 1,901,179 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 6,510,071 own shares.