Possible higher taxes for Sauda power plant

Orkla has  learned that the Norwegian Tax Appeal Board changed the former
decision by the Central Tax Office on ownership for tax purposes of one of the
power plants in Sauda. The decision could have as a consequence that the tax for
the AS Saudefaldene will increase by approximately 50 million NOK per year for
AS Saudefaldene (where Orkla owns 85%). Orkla disagrees with the Board's
decision and will most likely follow up with legal action.

Orkla ASA
Oslo, 15.12.2011

Ref.:

Senior VP Corporate Communications and Public Affairs
Johan Chr. Hovland
Telephone +47 22 54 44 86/+47 917 63 491

Senior VP Investor Relations
Rune Helland
Telephone +47 22 54 44 11

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)






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Source: Orkla ASA via Thomson Reuters ONE

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