CODFARMERS ASA - PUBLIC OFFERING AND INDICATIVE PRICE R

The board of directors of Codfarmers ASA
resolved on 26 September 2006 to offer up to 4.5
million new shares in a public offering. The
transaction will be completed in connection with
the listing of the Company`s shares on Oslo
Stock Exchange. The indicative offer price range
has been set from NOK 21 to NOK 26 per share,
implying a market capitalisation of the Company
prior to the offering of between approx. NOK 229
million and NOK 283 million.The board of directors of Codfarmers ASA
resolved on 26 September 2006 to offer up to 4.5
million new shares in a public offering. The
transaction will be completed in connection with
the listing of the Company`s shares on Oslo
Stock Exchange. The indicative offer price range
has been set from NOK 21 to NOK 26 per share,
implying a market capitalisation of the Company
prior to the offering of between approx. NOK 229
million and NOK 283 million. The final offering
price will be determinated by the Board on the
basis of the book building-process to be
conducted as part of the institutional offering.
Subject to approval of the listing application
and the prospectus by Oslo Stock Exchange, the
book building and application period will run
from 29 September 2006 to 12 October 2006. It is
expected that trading of the shares on Oslo
Stock Exchange will commence on or about 19
October 2006.

DnB NOR Markets is the Manager for the offering
and the listing.

Codfarmers is one of the leading developers in
the new industry of cod farming. Codfarmers is
among the companies with the largest licensed
production capacity in the industry. At full
utilization, Codfarmes estimates a production
capacity within its existing licences of
approximately 20,000 tons of cod at it`s two
clusters in Northern Norway.
For further information, please contact:
Codfarmers ASA

Michael Malling
CFO
Tlf. + 47 22 40 33 94

Øystein Steiro
CEO
Tlf. + 47 22 40 33 91

Harald Dahl
COB
Tlf. + 47 90 11 92 82