Bakkafrost P/f

Share Issue/Capital Change • Jan 30, 2014

Bakkafrost 30% ownership in new pelagic factory next to Havsbrún

Bakkafrost 30% ownership in new pelagic factory next to Havsbrún

Havsbrún, a 100% owned subsidiary of Bakkafrost, has

decided to participate with a 30% ownership in a new

pelagic factory for human consumption production. The

factory will be located next to Havsbrún's fish meal,

oil and feed production unit in Fuglafjørður in the

Faroe Islands.

Regin Jacobsen CEO: " This is a strategic investment

for Bakkafrost, to secure long term access to marine

raw material for our production salmon feed. Our

salmon is well known in the high-end market, for its

significant content of marine raw material and omega

3. To secure this property of our products in the

future, we have decided to participate in this

project. Bakkafrost will not participate in the

operation of the factory".

Havsbrún's share of the investment is DKK 16-20

million. The total investment in the factory is

estimated to around DKK 200 million. The factory will

have a total freezing capacity of 600 tonnes pr. day.

In addition to freeze whole fish, the factory will be

able to produce fillet and head of products. Off cuts

and downgraded fish from pelagic production factories

is usually a relative large part of the total intake

of raw material. The plan is that the factory will

commence operation during the summer 2014.

The other owners in the company are the pelagic

shipping companies Sp/F Framherji and P/F Palli hjá

Mariannu.

Contacts:

Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01

(mobile)

Teitur Samuelsen, CFO of P/F Bakkafrost: +298 23 51 11

(mobile)

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)

About Bakkafrost:

Bakkafrost is the largest salmon farmer in the Faroe

Islands. The Group is fully integrated from feed

production to smolt, farming, VAP and sales. The Group

has production of fish meal, fish oil and salmon feed

in Fuglafjørður. The Group operates licenses on 14

farming fjords. The Group has primary processing in

Klaksvík, Kollafjørð and Strendur and secondary

processing (VAP) in Glyvrar and Fuglafjørður. The

headquarters are located in Glyvrar, and the company

has a total of 590 employees.

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