NORWAY PELAGIC (NPEL) – 1st QUARTER 2008: RECORD HIGH SUPPLY OF RAW MATERIAL AND STILL POSITIVE DEVELOPMENT

Norway Pelagic has completed a quarter with record high supply of raw material, satisfactory
operations and continued upturn in demand in the main markets.

The fishery of NVG-herring is normally good in 1st quarter and then diminishes during winter following
the migration and spawning pattern of the herring. A large part of this year’s increased quota has been
caught during January and February. Sales and margins have also been satisfactory and there has
particularly been a noticeable increase in the sales to the African market.

”Good and stable access to raw materials and favourable market conditions make good impacts for
Norway Pelagic”, states CEO Gunnar Domstein. ”Never before has such volumes been landed to the
pelagic industry for human consumption. The positive development seems to continue, both in terms
of raw material base and the market conditions.”

The group’s operating revenues in 1st quarter 2008 amounted to MNOK 543,8. Operating result was
MNOK 40,1 and result before tax was MNOK 37,7. Operating margin was 7,4% and profit margin
before tax 6,9%.

In accordance with natural seasonal fluctuations in the industry, low activity is expected in the 2nd
quarter due to limited supply of raw material, but continued positive development for the whole year
based on increased supply of raw material and underlying upturn in demand in the main markets.

Norway Pelagic ASA applied 29th April to be listed on the main list of Oslo Stock Exchange.