Trade subject to notification - options, Halvor Stenstadvold, Inger Johanne Solhaug og Trygve Chr. Moe

24.02.2006: On 23 February, in connection with is option programme, Orkla exercised 21,333 options, respectively 15,000 at a strike price of NOK 133, and 6,333 at a strike price of 136.

And also 20,000 synthetic options at a strike price of NOK 75.05.
 
The transactions concern the following primary insiders:
 
1)
Executive Vice President Halvor Stenstadvold who sold 15,000 shares at a price of NOK 293.51 and paid out cash corresponding to 20,000 synthetic options. Stenstadvold's new total holding in Orkla is 13,107 shares and 20,000 synthetic options.
 
2)
Executive Vice President Inger Johanne Solhaug who sold 3,333 shares at a price of NOK 293.51. Solhaug's new holding in Orkla is 480 shares and 11,333 options.
 
3)
Senior Vice President Trygve Christian Moe who sold 3,000 shares at a price of NOK 294.16. Moe's new holding in Orkla is 0 shares and 9,700 options.
 
A total of 1,637,742 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 366,500 synthetic options of the cash bonus programme.
 
Orkla holds 1,873,941 of its own shares.