Protector Forsikring

Legal Proceedings Report • May 11, 2010

Negotiated settlement of plant/building at Halsa

Protector Forsikring ASA has finalised a claims

settlement with Codfarmers ASA which implies that

Codfarmers ASA receives a cash settlement of NOK 8m

for the plant/building at Halsa and that Protector

participates in a share issue in Codfarmers ASA with

NOK 10m. The deal is subject to a successful share

issue in Codfarmers ASA of NOK 50m and that

Innovation Norway (the mortgagee) approves the

settlement. The settlement will have no influence on

Protector's Q2 result.

Oslo, 11 May 2010

Protector Forsikring ASA