Trade subject to notification - rollover hedge position

14.04.2005: Reference is made to previous notifications regarding Orkla's derivative position linked to hedging of Orkla's share price based bonus programme (latest notification dated 29 June 2004).

Orkla has on 13 April 2005, in connection with a maturing contract, closed a new transaction in cash settled financial derivative linked to the development in the Orkla share price with the equivalent of 180,000 shares. The transaction has been closed based on a share price equal to NOK 238.54. The transaction does not change the exposure in cash settled financial derivative in the Orkla share.
 
After this transaction Orkla has through cash settled financial derivatives a position equivalent to 450,000 shares linked to hedging of its share price based bonus programme. A total of 1,706,777 options have been issued. Orkla currently holds 6,300,713 own shares.