On 12 December 2008, in connection with Orkla`s option programme, 80 000 options in Orkla-shares were exercised at a strike price of NOK 27.20 per share.

 

In addition, 15 000 synthetic options were exercised at a strike price of NOK 20.51 per share.

 

A total of 10 567 165 options in Orkla have currently been issued. Moreover, Orkla has an exposure through a cash-settled financial derivative of 1 400 000 underlying shares in the hedge-position related to the remaining 586 500 synthetic options of the cash bonus programme.

 

Orkla holds 11 971 772 treasury shares.

 

Orkla ASA,

Oslo, 15 December 2008

 

Contact:

Lars Røsæg, Orkla Investor Relations.

Tel.: +47 22 54 44 26