Mowi ASA

MHG - Agreement to divest UK farming assets

Marine Harvest is pleased to announce an agreement to divest its integrated

farming operations on the Shetland and Orkney Islands to Cooke Aquaculture Inc.

The operations have a combined harvest volume of 17.4 thousand GWT estimated for

2014. The agreed Enterprise Value (EV) is GBP 122.5 million, which corresponds

to an EV/kg of approximately NOK 70. Closing of the transaction is expected in

the second quarter.

The divestment is a consequence of the remedies set forth by the EU Commission

for the approval of the Morpol transaction in September 2013. The EU Commission

required Marine Harvest to divest farming capacity on the Shetland and Orkney

Islands. The agreement is conditional on the EU Commission approving that the

purchaser and the transaction as well as the sales terms satisfy these remedies.

The majority of the assets included in the transaction have been booked as

assets held for sale and Marine Harvest's volumes guidance will not be affected

by the transaction. Based on the year end 2013 balance sheet, anticipated gain

on the sale is approximately NOK 300 million. Final gain is to be determined

upon completion of the transaction.

A completion of the sale is likely to increase the potential dividend capacity

for Q1. The final Q1 dividend will be decided by the Board in connection with

the Q1 result announcement planned for April 30

Arctic Securities has acted as financial advisor and Wiersholm and Brodies have

acted as legal advisors in the transaction.

For queries please contact:

Ivan Vindheim, CFO +47 958 71 310

Forward-looking Statements

This press release may be deemed to include forward-looking statements, such as

statements that relate to the probability that the transaction will close,

certain harvest volumes, enterprise values, estimate regarding the closing of

the transaction, and anticipated and final gain from the transaction. Forward-

looking statements are typically identified by words or phrases, such as

"about", "believe," "expect," "plan," "goal," "target," "strategy," and similar

expressions or future or conditional verbs such as "may," "will," "should,"

"would," and "could." Forward-looking statements are Marine Harvest's current

estimates or expectations of future events or future results. Actual results

could differ materially from those indicated by these statements because the

realization of those results is subject to many risks and uncertainties,

including the risk that the transaction may not close. All forward-looking

statements included in this press release are based on information available at

the time of the release, and Marine Harvest assumes no obligation to update any

forward-looking statement.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1772098]

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