Registered capital increase and issue of convertible loan

Reference is made to the stock exchange notice dated 10 July 2009 regarding completed extraordinary general meeting in Codfarmers ASA (reg no 984 186 614). Pursuant to the resolutions of the general meeting and the authorizations which were granted the board of directors the following changes have been decided and registered in the Norwegian Register of Business Enterprises: i) The share capital in the company has been increased twice, first time from NOK 2,039,465.10 to NOK 3,039,465.10 in connection with a private placement (registered in the Norwegian Register of Business Enterprises on 16 July 2009), thereafter from NOK 3,039,465.10 to NOK 3,901,965.10 in connection with a private placement targeting bondholders under the company’s existing convertible bond loan (registered in the Norwegian Register of Business Enterprises on 17 July 2009). The company’s registered share capital is after this NOK 3,901,965.10, divided on 39,019,651 shares, each with a nominal value of NOK 0.10. Each share in the company carries one vote. ii) Issue of an unsecured convertible bond loan of NOK 71,781,500. The issue is directed at bondholders under the company’s existing NOK 100,000,000 convertible bond loan resolved by the general meeting on 27 November 2007, and is a part of an agreed continuance and restructuring of this. This information is subject of the disclosure requirements according to Section 5-8 of the Norwegian Securities Trading Act. For further information, please contact: Michael Malling CEO - phone: +47 22 40 33 94 Harald Dahl COB - phone: +47 90 11 92 82