OKEA ASA

OKEA - purchase program for shares under company incentive program

Reference is made to the general incentive program established by OKEA ASA

("OKEA" or the "company"), which is based on certain defined key performance

indicators and requires that cash bonuses awarded under the program is used to

acquire shares in the company. In connection with such awards, OKEA will

facilitate the corresponding purchases of existing shares in OKEA by employees

of the company. The purchases will be managed by Pareto Securities AS and is

estimated to comprise an amount up to approx. NOK 7 million in aggregate. The

purchases may be conducted in the open market on Oslo Børs or in negotiated

transactions. The company will on an ongoing basis announce the number of any

shares acquired, as well as the price paid (high, low, average). There is no

time limit on completion of the purchases.

The following primary insider will acquire shares as part of this purchase

(percentage of total acquired volume in brackets): Erik Haugane (1.69 %), Tor

Bjerkestrand (1.35 %), Kjersti Hovdal (1.20 %), Ola Borten Moe (1.20 %), Anton

Ernst Tronstad (1.20 %), Andrew James McCann (1.10 %), Ida Ianssen Lundh (0.75

%), Marit Vik-Langlie (0.75 %), Ragnhild Aas (0.72 %), Anne Lene Rømuld (0.68

%), Frank Stensland (0.63 %), Bjørn Pettersen (0.61 %), Jan Atle Johansen (0.37

%) og Bengt Morten Sangolt (0.37 %).

All purchases will be carried out on behalf and for the account of the relevant

employees, and OKEA will not acquire any own shares for treasury. All shares

purchased will be held on a client account with Pareto until the purchases has

been completed or terminated. The shares ultimately acquired will be subject to

a 12-month lock-up period on certain terms.

Contacts:

Erik Haugane, CEO, 90721655

Ståle Myhre, VP Investor Relations, 91751878

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