Elkem holds 71.4% in Sapa (71.7% on a fully diluted basis)

Elkem holds 71.4% in Sapa (71.7% on a fully diluted basis) The public offer, which Elkem ASA made through its wholly owned Swedish subsidiary Elkem Sweden AB ("Elkem"), in accordance with the rules on mandatory offers, to the shareholders in, and the holders of warrants and convertible debentures issued by Sapa AB ("Sapa") has been accepted to such extent that Elkem through the offer, has acquired 6,499,705 shares and 74,300 warrants and 504,500 convertible debentures with a nominal value of SEK 136 issued by Sapa. This corresponds to 19.0% of the capital and votes in Sapa after full exercise of outstanding warrants as well as full conversion of outstanding convertible debentures. In addition Elkem holds since before 19,675,382 shares in Sapa, corresponding to 53.7% of the capital and votes. Elkem's total holding in Sapa after the public offer thereby amounts to 71.4% of the capital and votes in Sapa or 71.7% after full exercise of outstanding warrants and full conversion of outstanding convertible debentures. Payment will commence September 13, 2002. Oslo, Norway, September 12, 2002 Stockholm, Sweden, September 12, 2002 Elkem ASA Elkem Sweden AB For further information, please contact: Svein Sundsbø Elkem ASA Telephone number: +47 90 95 47 17 or +47 22 45 01 80 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/12/20020912BIT00370/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/12/20020912BIT00370/wkr0002.pdf