COD – PRIVATE PLACEMENT DIRECTED AT HAVLANDET MARIN YNGEL AS

Reference is made to previous stock exchange notices from Codfarmers ASA (“Codfarmers”) regarding the agreement with Havlandet Marin Yngel AS and its parent company INC Invest AS with respect to financing of purchase of cod fry.

Codfarmers’ board of directors has today, pursuant to the mentioned agreement and on the basis of the authorisation to the board of directors to increase the share capital granted by the general meeting on 8 March 2012, resolved to carry out a private placement directed towards Havlandet Marin Yngel AS of 461,974 new shares at a subscription price of NOK 7.80 per new share. The private placement will provide Codfarmers with gross proceeds of NOK 3,603,397 for financing of purchase of cod fry.

The share capital increase in connection with the private placement is expected to be registered with the Norwegian Register of Business Enterprises on or about 15 March 2012. Following the registration of the share capital increase, Codfarmers will have a share capital of NOK 57,746,160, divided into 57,746,160 shares, each with a nominal value of NOK 1.00.

For further information, please contact:

Marianne E. Johnsen, Chair of Codfarmers, telephone +47 93 66 30 00
Harald Dahl, CEO of Codfarmers, telephone +47 90 11 92 82

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.