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Trade subject to notification - option exercise
05.03.2004: On 4 March 2004, in connection with its option programme, Orkla exercised 22,329 options at a strike price of NOK 160.
At the same time, Orkla issued 80,000 options at a share price of NOK 216.15, to be exercised no earlier than the day after publication of Orkla's results for 2006 (in February 2007) and no later than 15 December 2009.
After exercise of options, Orkla's holding of Orkla shares is reduced to 7,681,854. A total of 2,082,171 options have currently been issued. 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.
 
The following of the above transactions concern primary insiders:
 
Name
Options exercised
Assigned new options
Total number of options
Orkla-shares
Håkon Chr. Andersen
6 666
 
13 334
*)
Roar Engeland
 
40 000
130 000
13.002
Dag J. Opedal
 
40 000
130 000
16.613
 
 
At the same time Managing Director of Orkla Foods International Håkon Chr. Andersen sold 6,600 shares at a share price of NOK 195.36 *) He now owns 9,268 Orkla shares.



Ref.:
Ole Kristian Lunde, SVP Corporate Communications, Tel: +47 22544431

Ellen W. Ronæss, Shareholder Service, Tel.: +47 22544430


Date: 05. mar 2004 Kl 10.03