Trade subject to notification

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Trade subject to notification - Aarseth
Close relative to Director Geir Aarseth, Orkla ASA, has bought 200 shares in Orkla at NOK 197.00. Geir Aarseth and his close relatives new total shareholding is 4,366 shares and 3,000 options in Orkla.

Ref.: Ellen Ronæss, Manager, Shareholder Services, Tel.: +47 2254 4430 Date: 21 December 2004
Date: 21. dec 2004 Kl 14.12