Possible higher taxes for Sauda power plant

Orkla has  learned that the Norwegian Tax Appeal Board changed the former decision by the Central Tax Office on ownership for tax purposes of one of the power plants in Sauda. The decision could have as a consequence that the tax for the AS Saudefaldene will increase by approximately 50 million NOK per year for AS Saudefaldene (where Orkla owns 85%). Orkla disagrees with the Board's decision and will most likely follow up with legal action.

Orkla ASA
Oslo, 15.12.2011

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Senior VP Corporate Communications and Public Affairs
Johan Chr. Hovland
Telephone +47 22 54 44 86/+47 917 63 491

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Rune Helland
Telephone +47 22 54 44 11