Internal transaction of own shares

27.12.2004: The following 100 % owned subsidiaries of Orkla ASA have today sold the following number of Orkla-shares to Orkla ASA for NOK 200 per share:

XX Orkla	77 135 shares
Oktav Invest	4 424 380 shares
Rederi-A/S Orkla	669 276 shares
Drammen Kjex	519 320 shares
Salvesen- Thams	56 shares

Total	5 690 167 shares

None of the above mentioned subsidiaries will after the transaction own any Orkla-shares.

This transaction does not change the number of Orkla's reported own shares, which still is 6 516 071 shares.

Ref.:
Rune Helland, VP Investor Relations, Tel: +47 22544411

Date: 27. dec 2004 Kl 09.12