Lerøy Seafood Group ASA : Short comment on Government proposal for changes in regulatory framework for cod trawlers

The Government announced today a proposal that would imply in part significant
changes to the regulatory framework for the fishing industry. Should the
Storting adopt the proposed changes, this will have an impact on operations for
Lerøy Seafood Group ASA's (Lerøy) subsidiaries, Havfisk AS and Norway Seafoods
Group AS. The proposal is the result of a consultation process in which Lerøy
also provided input. To date, the Lerøy Group has not had the opportunity to
gain in-depth knowledge of the proposal from the Government, and is therefore
taking all necessary precautions.

The main elements in the proposal however seem to be that the Government
proposes to remove the so-called trawler fleet land-lock obligation system parts
in return for payment of financial compensation and parts a reduction in the
company's basic quota. Forward-looking framework conditions, including
predictability and a long-term perspective, are central in the effort to
facilitate investments and create jobs in an industry exposed to tough
competition and with high demands for capital. Lerøy is therefore not satisfied
with the Government's proposal, which implies a reduction of the Group's basic
quota of 20 %. It is our opinion that it is essential for the Group to sustain
its raw material basis in order to substantiate the Group's long-term industrial
investments both at sea and on land. The company plans to study the proposal in
detail and assess it in its entirety, including the legal aspects. Lerøy is
satisfied that the Government has understood the need for modernisation of the
framework conditions, and hopes that the company's input to further political
discussions will be heard, so that the final resolution provides the best
possible grounds for the future development of our sector.

Contact persons:

Chairman of the Board Helge Singelstad: +47 916 61 001
CEO Henning Beltestad +47 911 43 545




This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.