AGREEMENT ON SALE OF ”CLUSTER KJERRINGØY”

Codfarmers ASA has today, 14 October 2009, entered into an agreement with Marine Harvest Norway AS regarding sale of the company’s business in “Cluster Kjerringøy”. The sale comprises transfer of assets, rights and obligations related to the locations Vindvika, Movika and Tårnvika, including moorings, barges, boats and other equipment. Codfarmers ASA has today 6 employees related to the production on the location Tårnvika. Marine Harvest Norway AS pays a cash consideration of a total of NOK 17.5 million for the locations, of which leasing debt of NOK 3.6 million shall be deducted at the time of settlement. The cash consideration shall be paid out in two transactions, of which 30% is to be paid out in October 2009 and the remaining amount upon the transfer of the location Tårnvika in August 2010. The locations are principally sold at book values and therefore any accounting profit or loss will not occur upon the completed transaction. “We are very pleased with the agreement regarding the sale of the locations and fixed assets related to “Cluster Kjerringøy” to Marine Harvest Norway AS. The cash consideration from the sale will strengthen the financial position of Codfarmers ASA”, says Michael Malling, CEO of Codfarmers ASA. Following the sale of the three locations related to “Cluster Kjerringøy” Codfarmers ASA has a production capacity of 34,200 MAB (maximum allowed biomass). “The sale contributes to a further concentration of our locations and provides basis for more optimal utilization of these upon the realisation of the company’s growth-plans”, finishes Michael Malling. Oslo, 14 October 2009 Codfarmers ASA For further information, please contact: Michael Malling CEO, tel. +47 22 40 33 94