Trade subject to notification

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Trade subject to notification

All employees in Norway, Sweden, Denmark and Finland have been offered the opportunity of buying 60 or 120 Orkla shares at a price of NOK 116.50 per share minus a 20% discount. On 1 December 1999, the following primary insiders purchased 120 shares in Orkla ASA at a price of NOK 93.20 per share. All the new shareholding figures include shares that have been subscribed for in connection with the preferential rights issue: After the purchase, Jens P. Heyerdahl d.y., President and Group Chief Executive, and close relatives will have a total shareholding of 475,717 Orkla shares. In addition Mr. Heyerdahl owns 10% of Oktav Invest AS which in total owns 5,025,696 Orkla shares, and Halvor Stenstadvold, Exec. Vice-President, Orkla ASA, will have a total shareholding of 5,120 Orkla shares.
Ref.: Lisbeth Lindberg, SVP Information/Investor Relations Tel: +47 22 54 44 23 Astrid L. Øyehaug, Investor Relations Tel: +47 22 54 44 25 Anne B. Sturød, Investor Relations Tel: +47 22 54 44 18
Date: 02. dec 1999 Kl 09.12