Orkla ASA — Director's Dealing 2010

Dec 13, 2010

Mandatory notification of trade - options

On 13 December 2010, in connection with Orkla`s option programme, 15,000 options

in Orkla-shares were exercised at a strike price NOK 40.47 per share and 30,000

options at NOK 40.14.

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

now 20,472,000. In addition Orkla has a hedge through a cash-settled financial

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

Orkla owns 7,342,325 treasury shares.

Orkla ASA

Oslo, 13 December 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#1471844]