Notification - Transfer of own shares to employees

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Notification - Transfer of own shares to employees
15.12.2003: With reference to the notice to Oslo Stock Exchange dated 17.11.2003 regarding Orkla's offer to its employees to buy Orkla-shares. Today Orkla has transferred 201,100 Orkla-shares to its employees.
After this transaction Orkla owns 7,720,183 Orkla-shares. Orkla has also issued a total of 2,040,500 options. Moreover, Orkla has an exposure through a cash-settled financial derivative of 450,000 underlying shares in the hedge position related to the remaining part of the cash bonus programme.
Ref.: Rune Helland, VP Investor Relations, Tel.: +47 22544411 Siv Merethe Skorpen, AVP Investor Relations, Tel.: +47 22544455
Date: 15. dec 2003 Kl 10.12