CODFARMERS ASA ACQUIRES HATCHING FACILITY

Codfarmers ASA today finalised an agreement with
Bunes Fisk AS to buy their hatching facility in
Morkvedbukta outside Bodø, Nordland, Norway. The
facility was purchased at a price of MNOK 20
including 1,860 sqm of buildings and 6,700 sqm of
land. The facility, built in 2004, is licensed for
4,5 million juveniles, keeping of brood fish, and
production of a considerable number of cod fry.
The facility is located in a maritime business
environment with immediate access to the marine
sciense expertise of Bodø University College
situated right next door.

Codfarmers intends to expand the facility into an
integrated haching, cod fry and juvenile
production facility with an annual production
capacity of 10 million juveniles. `The
acquisition of the facility in Morkvedbukta is an
important part of our strategy to secure the whole
value chain and ensure regular access to high
quality juveniles ideally suited for the
favourable cod farming conditions in the region of
Nordland` says Øystein Steiro, CEO of Codfarmers.

A short presentation of the hatching facility can
also be found at http://www.codfarmers.com
(Norwegian version only)

For further information please contact:

Harald Dahl
Chairman
Phone: + 47 23 11 85 65 / 90 11 92 82


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,
Codfarmers estimates a production capacity within
its existing licenses of approximately 20,000 tons
of cod at its two clusters in Northern Norway.