AGREEMENT ON SALE OF EQUIPMENT

AGREEMENT ON SALE OF EQUIPMENT On 31 January 2010, Codfarmers ASA and its subsidiary NAP Marine AS, entered into agreements with Mainstream Norway AS regarding the sale of certain equipment and leasing agreements. The sale comprises transfer of boats, moorings and feeding machines. Mainstream Norway AS shall pay a total cash consideration of NOK 14,050,000 for the equipment, from which assumed leasing debt assumed by the buyer, currently estimated to NOK 6,245,000, shall be calculated and deducted at the time of settlement. The total expected cash payments are NOK 6,429,000 to Codfarmers ASA and NOK 1,376,000 to NAP Marine AS. The delivery and payment shall take place in several transactions, of which 10% is paid in connection with the signing of the agreements and the remaining amount upon final delivery. The final delivery is agreed to take place in week 22 in 2010. The equipment is principally sold at book value. Hence, no significant accounting profit or loss will occur upon the completed transaction. “We are pleased with the agreements regarding the sale of the equipment to Mainstream Norway AS. The cash consideration from the sale strengthens the financial position of Codfarmers, and represents an adjustment of the invested and tied-up capital in line with the Company’s business plan going forward”, says Michael Malling, CEO of Codfarmers ASA. Oslo, 1 February 2010 Codfarmers ASA For further information, please contact: Michael Malling, CEO, tel. +47 22 40 33 94