Trade subject to notification - options

On 4 October 2004, in connection with Orkla's option programme, 28,332 options were exercised in Orkla shares at a strike price of NOK 135. Of these, 24,999 options were exercised for cash payment. At the same time, Orkla issued 20,000 options at a strike price of NOK 198.55.

These options may not be exercised until after the publication of Orkla's financial results for 2007 (in February 2008) and no later than 15 December 2010.
 
A total of 1,792,812 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 6,799,978 shares.