MINUTES FROM ANNUAL GENERAL MEETING

Codfarmers ASA held its ordinary Annual General Meeting in Oslo today. The Board of Directors` Annual Report and Financial Statements for 2007 were approved unanimously.

Erik Wahlstrøm and Ole Jacob Myre retires from the Board of Directors.

In accordance with the proposal of the Nomination Committee, Svein Ove Strømmen and Sturle Skeidsvoll were unanimously elected as a new members of the Board.

Svein Ove Strømmen is in possession of a comprehensive experience with leadership and board work, both for listed companies and other companies. Strømmen has successfully established several companies which have expanded and subsequently been listed on the stock exchange. He is currently the chairman of the board in Vizrt and Data Invest, and he has previously been the chairman in Nera and VMetro.

Sturle Skeidsvoll is educated within fish farming technology and biology. He has broad experience within the fish farming industry and is one of the most well-informed persons regarding cod farming in Norway. Skeidsvoll has until recently been employed in the position as the general manager of Dana Feed AS.

In accordance with the board recommendation the following members to the nomination committee were unanimously elected:

Jarl Ulvin (chairman) (re-election)
Morten Werring (re-election)
Ottar Haugerud (election)

In accordance with the Board`s proposal in the notice the Board was given authorisation to increase the company`s share capital with up to NOK 40 000. The authority shall be valid until the ordinary general

meeting of the Company in 2009, but under no circumstance longer than to 30 June 2009.

The signed minutes are enclosed.