Trade subject to notification - Stein Erik Hagen

Company closely associated with Stein Erik Hagen, Chairman of the Board of Orkla ASA, has on 20 November 2007 bought 2,605,000 shares in Orkla ASA at an average share price of NOK 94.54.

After this transaction, Stein Erik Hagen and his close associates own 226,905,000 shares in Orkla ASA, corresponding to 21.9 % of outstanding shares in Orkla.
The board of directors of Orkla ASA will upon request consider the acquisition as Stein Erik Hagen and his close associates own more than 20% of the shares in Orkla ASA according to applicable concession legislation. The acquisition also requires that Canica obtains concession from relevant concession authorities
Rune Helland, Orkla Investor Relations, Tel: +47 2254 4411