AGREEMENT

The Boards of Directors of Lerøy Seafood Group ASA (LSG) and BioMar AS have

entered into an agreement to the effect that LSG will purchase 50.71% of the

shares in Sjøtroll Havbruk AS. Sjøtroll Havbruk AS is active in the production

of fry/smolt and farming of fish for consumption, and also slaughtering and

processing. The company's farming of fish for consumption is provided by 25

salmon and salmon trout-farming licences. Sjøtroll Havbruk AS also has a 27.5%

shareholding in the breeding company SalmoBreed AS. Sjøtroll Havbruk AS has an

annual forecast for 2011 of 26,000 gutted weight tonnes of salmon and salmon

trout. The company has about 250 employees.

The shares are being bought for MNOK 540, which is equivalent to an enterprise

value as at August of MNOK 1,298 on a 100% basis. MNOK 408.5 of the cost of the

shares is being paid in cash, while the remainder is being paid in the form of

1 million shares in LSG at a share price of NOK 131.5.

The transaction is planned for mid-November 2010. The transaction is fully

financed.

The Board of Directors and the management of LSG are both extremely satisfied

with what has been achieved by the agreement that has been entered into, and

they look forward to further developing Sjøtroll Havbruk AS together with the

company's shareholders, management and employees.

Following the purchase, LSG will have a production of salmon and salmon trout

from 130 licenses in Norway, as well as significant production in Scotland. The

group also has its own roe production and sufficiently meets the needs for

high-quality smolt. As a result of the buy-out, the Group's central activities

in the areas of fish-farming, processing, sales and distribution allow it to

benefit from significant synergies.

Any questions or comments may be directed to the Chairman of the Board of

Directors, Helge Singelstad + 47 916 61 001, or the CEO, Henning Beltestad

+47 911 43 545.

Bergen, 28.09.2010

The Board of Directors of Lerøy Seafood Group ASA

Key figures for Sjøtroll Havbruk AS for 2009 and 2008:

Sales 2009: MNOK 795, 2008: MNOK 752

Operating profit 2009: MNOK 110, 2008: MNOK -16

Total balance 2009: MNOK 1,085, 2008: 1,098

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1447171]

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