Borregaard - Share Issue/Capital Change 2014

Borregaard: Trade subject to notification - Shares for Employees 2014

10 February 2014: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Employees in Borregaard have been offered the opportunity to buy Borregaard

shares at a discount, for the amount of NOK 4 000, NOK 12 000, NOK 20 000 or NOK

28 000. The price per share will be equal to the average market price (volume

weighted) for the share on 17 February 2014, with a 30% discount.

The offer is valid from 10 - 17 February 2014.

The following primary insiders have bought shares in Borregaard on 10 February

2014: (see attachment)

The purchase price and the number of shares acquired by the primary insiders, as

well as their updated shareholdings, will be notified the Stock Exchange

following the determination of the purchase price.

Contacts:

Jørn Syvertsen, Director Investor Relations, +47 95 83 63 35

Lotte Kvinlaug, Investor Relations Officer, +47 922 86 909

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1760564]

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