Transfer of own shares to employees

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Transfer of own shares to employees
14.12.2004: With reference to the notice to Oslo Stock Exchange dated 26.11.2004 regarding Orkla's offer to its employees to buy Orkla-shares. Today Orkla has transferred 224,940 Orkla-shares to its employees.
After this transaction Orkla owns 6,526,405 Orkla-shares. Orkla has also issued a total of 1,930,179 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.: Ellen W. Ronæss, Manager, Shareholder Services, Tel: +4722 54 44 30
Date: 14. dec 2004 Kl 10.12