Trade subject to notification REC

Orkla has the 27 March 2007 sold 1 194 335 shares in Renewable Energy Corporation ASA (REC) at a share price of NOK 140.33.

After this transaction Orkla holds 196 425 000 shares in REC, which represents 39.75 % of the shares.
 
The reason for the sale is that Orkla wishes to have a certain margin to the 40 % limit that triggers a mandatory offer.
 
The reason for this notification is that Ole Enger and Roar Engeland (both Executive Vice President in Orkla) are members of the Board in REC.
 
 
 
Contact:
Rune Helland, Orkla Investor Relations - Tel: +47 2254 4411
Siv M. Skorpen Brekke, Orkla Investor Relations - Tel: +47 2254 4455