| Following the private placement on 9 June 2009, Grieg Seafood ASA (the "Company") has been notified by Grieg Holdings AS regarding conversion of NOK 59,000,000 in the subordinated convertible bond loan (The 8 % Grieg Seafood ASA Subordinated Convertible Bond Issue 2009/2010). The conversion rate is NOK 4 per share. The share capital increase will be implemented and registered in accordance with the terms of the loan agreement. Grieg Holdings AS is the largest shareholder in Grieg Seafood ASA and did not participate in the private placement in the Company. In connection with the private placement, Grieg Holdings has entered into a lock-up agreement with the lead manager in the private placement, which is valid until the release of the Company's Q2 report. |