Trade subject to notification

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Trade subject to notification - Elkem
22.10.2002: Orkla's Financial Investments area has on 21 October 2002 bought 16,450 shares in Elkem ASA at a price of NOK 179.50 per share.
After this transaction Orkla including subsidiaries owns 18,574,322 Elkem shares, representing 37.7% of the share capital. Enclosed pdf.file
Reference: Rune Helland, VP Investor Relations, Tel. +47 22 54 44 11 Erik Thuestad, AVP Investor Relations, Tel. +47 22 54 44 25
Date: 22. oct 2002 Kl 09.10