Trade subject to notification Orkla ASA / Elkem ASA

09.03.2005: On 8 March 2005 Orkla ASA and Elkem ASA carried out the following transactions:

The closely associated company Elkem ASA has sold and Orkla ASA has purchased 32,377 shares in Orkla ASA at a price of NOK 226.57 per share. The shares, which were owned by Elkem ASA before 10 January 2005, constituted Elkem ASA's total holding of Orkla shares.
 
Since this is an internal transaction within the Orkla Group, it entails no change in Orkla's (including its subsidiaries') holding of Orkla shares, which still totals 6,362,677 shares.
 
Orkla has issued 1,777,075 options. Orkla has also an exposure through a cash-settled financial derivative of 450,000 underlying shares in the hedge position related to the remaining 448,500 synthetic options of cash bonus programme.