Orkla ASA — Director's Dealing 2010

Dec 16, 2010

Mandatory notification of trade - options

Under its option programme for senior executives, Orkla exercised 475,000

options with average strike NOK 39,97 on the last exercise date, 15 December

At the same time, 160,000 options were cancelled due to resignations.

A list of the primary insiders affected by the option exercise is attached

herewith.

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

now 19,769,500. Orkla has a hedge through a cash-settled financial derivative of

600,000 underlying shares related to the option programmes.

Orkla owns 6,958,597 treasury shares.

Orkla ASA

Oslo, 16 December 2010

Contact Orkla Investor Relations:

Rune Helland, Tel: +47?22 54 44 11

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

(Norwegian Securities Trading Act)

[HUG#1473054]