Trade subject to notification

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Trade subject to notification - Elkem
23.10.2002: Orkla's Financial Investments area has on 23 October 2002 bought 275,500 shares in Elkem ASA at a price of NOK 180 per share.
After this transaction Orkla including subsidiaries owns 18,849,822 Elkem shares, representing 38.3% 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: 23. oct 2002 Kl 11.10