Pronova BioPharma share buy back

Pronova BioPharma ASA (OSE: PRON.OL) ("Pronova BioPharma" or the "company") has on 10 November 2008 purchased 22 000 of its own shares in the market at a price of NOK 19,61 per share and intends to purchase an additional 178 000 shares in the market. Pronova BioPharma ASA has entered into an agreement to sell 200 000 of the company's shares to Per-Oluf Olsen, who will take over as CEO of the company after Tomas Settevik. This sale will be effected once Per-Oluf Olsen has assumed the position of CEO. Following the completion of these transactions, Pronova BioPharma ASA will not hold any of its own shares.