RIGHTS OFFERING

Reference is made to the Codfarmers prospectus
dated 29 November 2007 and the rights offering
(the Offering) of up to 1,000,000 new shares
described therein.

The subscription rights issued in connection with
the Offering in Codfarmers ASA are listed today
with ticker `COD S`.Further, reference is made to the Company`s
announcement on 27 November 2007 where it was
announced that participants in a completed private
placement and convertible loan have agreed not to
exercise or transfer the subscription rights
issued
to them, and such subscription rights will be kept
by DnB NOR Markets in a blocked VPS account and
will remain unexercised throughout the
subscription
period.

Of the total 1,000,000 issued subscription rights
551,602 subscription rights have been issued on
the
basis of Codfarmers ASA shares held on 27 November
2007 by participants in the private placement and
convertible loan, and may not be exercised or
transferred. Persons exercising subscription
rights
and over-subscribing (i.e. subscribing for more
offered shares in the Offering than the number
ofsubscription rights exercised by them) will have
priority to the offered shares that would
otherwise
have been issued on the basis of unexercised
subscription rights. The over-subscribing holders
of subscription rights will consequently be
entitled to allocation of approximately 2.23
shares
for each subscription right exercised, given
adequate over-subscription.


Oslo, 3 December 2007

Codfarmers ASA



For further information, please contact:

Michael Malling
CFO
+47 20 40 33 94


or
Ove C. Allers
DnB NOR Markets, Corporate Finance
+47 22 94 81 21