We refer to earlier communications regarding the sale of Orkla's forests.

Orkla is selling the wholly-owned forest companies Borregaard Skoger AS,  AS Børresen and Borregaard Vafos AS to Statskog for a total of NOK 1 725 million after a broad process with strong competition and a number of  attractive offers .  The sale covers approximately 1.1 million decares, of which around 750 000 decares are productive forest land. The transaction also encompasses Borregaard Skoger's equity interest in Statskog-Borregaard Skogsdrift (SB Skog).

The transaction is subject to approval by Stortinget (the Norwegian Parliament).  Completion of the transaction also assumes approval by the Norwegian Competition Authority.

Contact persons:

Rune Helland, Tel: +47 22 54 44 11

 Roar Engeland, Tel: +47 926 53 197