Trade subject to notification - exercised options

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Trade subject to notification - exercised options
On 17 September 2004, in connection with Orkla's option programme, 6,000 options were exercised in Orkla shares at a strikeprice of NOK 132.
A total of 1,822,140 options in Orkla 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. Orkla currently holds 6,824,307 shares.
Ref.: Ellen W. Ronæss, Shareholder Services, Tel.: +47 2254 4430 Date: 20 September 2004
Date: 20. sep 2004 Kl 10.09