CHANGES IN THE MANAGEMENT

The Board of Directors in Codfarmers ASA has in connection with the demanding situation with the contemplated refinancing, arrived at the conclusion that there is need for a strengthening of the Company’s management. The Board has, after consultation with the Company’s CEO, Michael Malling, resolved that the Malling shall resign as of 30 April 2010. The Board of Directors wish to express that they are very satisfied with Malling’s efforts for the Company, in his time as CFO since November 2005 and later as CEO since November 2008. The Company’s current working chairman of the Board, Harald Dahl, will simultaneously leave his position at the Board of Directors. The current vice chairman of the Board, Marianne E Johnsen, will assume the position as chairman of the Board until the annual general meeting in 2010. For further information, please contact: Marianne E. Johnsen, acting Chairman of the board, tel: +47 936 63 000 Harald Dahl, acting CEO, tel: +47 90 11 92 82