Trade subject to notification - options

Reference to notification on 4 Desember 2003. In connection with Orkla's option programme, 121,500 options have been issued at a share price of NOK 207,35, of which 114,000 to be exercised no earlier than the day after publication of Orkla's results for 2007 (in February 2008) and no later than 15 December 2010, and 7,500 be exercised no earlier than the day after publication of Orkla's results for 2006 (in February 2007) and no later than 15 December 2007.

The above transactions also concern primary insiders as mentioned below.

A total of 1,847,013 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 6,774,679 own shares.
 
The following primary insiders have received options to be exercised no earlier than the day after publication of Orkla's results for 2007 (in February 2008) and no later than 15 December 2010:
 
Director Tor Aamot, receives 3,000 options. New holding 24,667 options and 6,100 shares in Orkla.
Director Karl Otto Tveter, receives 3,000 options. New holding 24,667 options and 1,000 shares in Orkla.
Director Terje Andersen, receives 3,000 options.  New holding 37,000 options and  2,600 shares in Orkla.
Managing Director Torkild Nordberg, Orkla Brands, receives 5,000 options.  New holding 44,167 options and 600 shares in Orkla.
Managing Director Mikael Aru, Procordia Food, receives 3,000 options.  New holding 6,000 options and 100 shares in Orkla.
 
The following primary insider has received options to be exercised no earlier than the day after publication of Orkla's results for for 2006 (in February 2007) and no later than 15 December 2007.
 
Managing Director Jan Lindh, Orkla Media, receives 7,500 options.  New holding 7,500 options and 32,928 shares in Orkla.