MANDATORY NOTIFICATION OF TRADE

Board member Erik Wahlstrøm of Codfarmers ASA has
on 16 November 2007 subscribed for and been
allotted 20 convertible bonds in the principal
amount of NOK 100,000 each at a price of NOK
100,000 (NOK 2,000,000 in total) in the convertible
bond loan placed by the Company in the period from
13 to 16 November 2007. The bonds may be converted
into shares in the Company at a conversion price of
NOK 40.60 per share, and Mr Wahlstrøm may
accordingly convert his bonds into 42,961 new
shares. The convertible bond issue shall be
approved by the general meeting of Codfarmers ASA
on 27 November 2007.

Erik Wahlstrøm also owns 339,936 shares in
Codfarmers ASA, of which 2 500 shares are
controlled by his company Brantenborg AS.