Orkla ASA — Director's Dealing 2010

Nov 23, 2010

Mandatory notification of trade - options

On 23 November 2010, in connection with Orkla`s option programme, 15,000 options

in Orkla-shares were exercised at a strike price NOK 40.14 er share.

After this transaction, the total number of options issued in Orkla shares is

now 20,727,000. In addition Orkla has a hedge through a cash-settled financial

derivative of 600,000 underlying shares related to the option programmes.

Orkla owns 9,122,815 treasury shares.

Orkla ASA

Oslo, 23 November 2010

Contact Orkla Investor Relations:

Rune Helland, Tel: +47?2254 4411

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

(Norwegian Securities Trading Act)

[HUG#1464890]