SalMar ASA — M&A Activity 2010

Jul 8, 2010

RaumaGruppen AS - Acqusition

SalMar has on July 8(th) 2010 agreed to acquire the share majority RaumaGruppen

AS through purchase of 96.3% of the shares in Reistad Eiendom AS, a company

holding 73.08% of the shares in RaumaGruppen AS, as well as purchase of 2.46% of

the shares in RaumaGruppen AS directly from Bjarte Tunold. Reistad Eiendom AS

has no activity other than the ownership in RaumaGruppen AS.

The purchase price for the shares is set to NOK 304.9 million. The share

transfer will take place on 8(th) of July, the purchase price will be paid in

cash.

RaumaGruppen AS is a holding company in a Group including:

* Rauma Stamfisk AS (100%) - broodstock and roe/egg production

* Rauma Sætre AS (100%) and Rauma Eik AS (100%) - production of smolt

* Rauma Misund AS (100%) - farming

* Vikenco AS (51%) - harvesting, processing and sales

RaumaGruppen AS harvested about 7,500 tonnes gutted weight in 2009 and had

revenues of approximately NOK 370 million. The company has 8 farming licenses

including two broodstock licenses. The hatcheries produce about 3 million smolt

per year, most of which is used internally. Rauma Stamfisk (broodstock) produces

eggs of the well-known Rauma-stock. In the 2009/2010 season, the production is

expected to be around 20 million eggs. In 2009, Vikenco AS had about 10,000

tonnes gutted weight of salmon and produced close to 4,000 tonnes of fillet. The

largest markets for Vikenco are Norway and the US.

The CEO of the company is Erling Keiseraas and RaumaGruppen AS has about 100

employees. The Board of Directors includes Anders Talleraas (chairman), Per Olav

Mevold, Bjarte Tunold James Stove Lorentzen and Per Magne Grøndahl.

As part of the transaction, the following key personnel will sell their shares;

+------------------+------------------------------+----------------------------+

|Name |Position in RaumaGruppen AS |Direct or indirect ownership|

| | |in RG before the transaction|

+------------------+------------------------------+----------------------------+

|Anders Talleraas |Chairman of the Board |3,8 % |

+------------------+------------------------------+----------------------------+

|Per Olav Mevold |Vice chairman of the Board and|7,3 % |

| |CEO of Vikenco AS | |

+------------------+------------------------------+----------------------------+

|Bjarte Tunold |Board member |17,9 % |

+------------------+------------------------------+----------------------------+

|Per Magne Grøndahl|Board member |15,4 % |

+------------------+------------------------------+----------------------------+

|Erling Keiseraas |CEO |6,2 % |

+------------------+------------------------------+----------------------------+

Key figures for RaumaGruppen AS

(1 000 NOK)    Per Q1 2010  2009 2008 2007

Revenues  118 000 366 000 269 000 196 000

Pre-tax profits  21 000 26 000 -33 000 17 000

Fixed assets  222 000 225 000 217 000 218 000

Current assets  165 000 170 000 143 000 126 000

Total assets  387 000 396 000 359 000 343 000

Equity  158 000 137 000 124 000 151 000

Debt  228 000 258 000 235 000 193 000

Total equity & debt  387 000 396 000 359 000 343 000

SalMar has an explicit growth strategy and the acquisition of the share majority

in RaumaGruppen AS is a valuable and important contribution to the company's

existing production in Central Norway. SalMar currently holds 43 licenses in

this region, which has been the region where SalMar historically has delivered

the best financial and biological results in the Group.

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

(Norwegian Securities Trading Act)

[HUG#1430572]