Orkla ASA — M&A Activity 2011

Jan 10, 2011

Negotiations regarding a possible sale of Elkem AS

In response to news article in Dagens Næringsliv today, Orkla ASA hereby

confirms that it is in negotiations with China National Bluestar regarding a

possible sale of Elkem AS' silicon-related operations, including Elkem Solar.

The agreement does not include the shares in Elkem Energi AS.

Orkla ASA will make a further announcement as and when appropriate.

Orkla ASA,

Oslo, 10 January 2011

Contacts:

Rune Helland, SVP, Investor Relations, tel: +47 22 54 44 11

Johan Chr. Hovland, SVP, Corporate Communication and Public Affairs,

tel.: +47 91 76 34 91

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

(Norwegian Securities Trading Act)

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