Elkem acquires further shares in Sapa

Elkem acquires further shares in Sapa Elkem ASA, acting through its wholly owned subsidiary Elkem Sweden AB, has acquired a further 350,000 shares in Sapa AB, amounting to a total of 0.95 percent of the voting rights and share capital. Elkem Sweden AB's current shareholding is therefore 18,682,682 shares, amounting to 50.06 percent of the voting rights and share capital after full exercise of outstanding warrants and full conversion of outstanding convertible debentures issued by Sapa AB and 50.96 percent based on the number of issued shares. The highest price paid by Elkem Sweden AB in connection with the acquisition of Sapa AB shares is SEK 175 per share. The last day for accepting the public offer is September 2, 2002. Payment for tendered shares is planned to commence on or about September 10, 2002. Oslo, August 22, 2002 Elkem ASA For further information, please contact: Svein Sundsbø Elkem ASA Telephone number: +47 90 95 47 17 Elkem Sweden AB SE-101 22 Stockholm Organisation number: 556601-6332 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/22/20020822BIT01270/wkr0001.doc http://www.waymaker.net/bitonline/2002/08/22/20020822BIT01270/wkr0002.pdf

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