Mandatory notification of trade - options

Under its option programme for senior executives, Orkla exercised 475,000 options with average strike NOK 39,97 on the last exercise date, 15 December 2010.

At the same time, 160,000 options were cancelled due to resignations.

A list of the primary insiders affected by the option exercise is attached herewith.

After this transaction, the total number of options issued in Orkla shares is now 19,769,500. Orkla has a hedge through a cash-settled financial derivative of 600,000 underlying shares related to the option programmes.

Orkla owns 6,958,597 treasury shares.

Orkla ASA

Oslo, 16 December 2010

Contact Orkla Investor Relations:

Rune Helland, Tel: +47　22 54 44 11