Extraordinary Write-down in Q2 2009

Codfarmers ASA hereby informs that the reduced market prices for cod in Q2 2009 imply an extraordinary write-down of the standing biomass of NOK 25 million. The write-down is a consequence of a value adjustment of Codfarmer’s standing biomass based on an expected sales price of NOK/kg 30 (FOB Oslo). Future requirements for adjustment in positive or negative direction depend on the price development. Adjustments are considered each quarter. The write-down has no consequences for the Company’s cash reserves. The Company has sound equity subsequent the restructuring of the Company’s debt of NOK 50 million with extended maturity, capital increase with gross proceeds of NOK 40 million, and loan and grants from Innovasjon Norge of NOK 33 million. Further information will be made available in connection with the presentation of the result for Q2 2009 at Shippingklubben on Tuesday 25 August 2009 at 08:30 hours (CET). This information is subject to the disclosure requirements pursuant to Section 5-2 of the Norwegian Securities Trading Act. Oslo, 18 August 2009 Codfarmers ASA For further information, please contact: Michael Malling CEO, tlf. +47 22 40 33 94