SUCCESSFUL OFFERING

The Board of Directors of Codfarmers ASA has
resolved to complete the Offering of 4,500,000
new shares as set forth in the prospectus dated
27th of September 2006. The Offer Price per
share has been set to NOK 26. The share capital
increase is based on an authorization given to
the Board of Directors by the general meeting on
the 8th of September 2006.The Board of Directors of Codfarmers ASA has
resolved to complete the Offering of 4,500,000
new shares as set forth in the prospectus dated
27th of September 2006. The Offer Price per
share has been set to NOK 26. The share capital
increase is based on an authorization given to
the Board of Directors by the general meeting on
the 8th of September 2006.

As a result of the Share Issue, the share
capital of Codfarmers will increase with NOK
450,000, from NOK 1,088,925 to NOK 1,538,925,
and the number of shares outstanding will
increase with 4,500,000, from 10,889,250 to
15,389,250.

The gross proceeds from the Offering equal NOK
117 millions before adjusting for discount to
employees and fees and expenses.

451,500 shares were allocated to retail
investors (10%) and 4,048,500 shares were
allocated to institutional investors (90%), in
line with the prospectus dated 27th of September
2006. A total of 277 investors were allocated
shares in the offering.

Information regarding allocation and payment
instructions will be sent to participating
investors on the 13th of October 2006. First day
of trading of the Codfarmers shares on Oslo Børs
will be the 19th of October 2006.

The Offering was more than 4 times subscribed,
and the Board of Directors is very pleased with
the result from the Offering. The Company now
has a strong and diversified shareholder
structure, including high-quality Norwegian and
international institutional investors, and has
increased its financial strength in order to be
a leading developer in the new industry of cod
farming.

The Offering was managed by DnB NOR Markets.

Codfarmers ASA, Board of Directors
12th of October 2006

For further information, please contact
Codfarmers ASA:

Chief Executive Officer
Øystein Steiro
Tel: + 47 22 40 33 91

Chief Financial Officer
Michael Malling
Tel: + 47 22 40 33 94


ABOUT CODFARMERS: Codfarmers is one of the
leading developers in the new industry of cod
farming. Codfarmers is among the companies with
the largest licensed production capacity in the
industry. At full utilization, Codfarmers
estimates a production capacity within its
existing licenses of approximately 20,000 tons
of cod at it`s two clusters in Northern Norway