Marine Harvest launches EUR 375 million convertible bond offering due 2019

Marine Harvest - Convertible Bond
24 April 2014

Marine Harvest launches EUR 375 million convertible bond offering due 2019

Marine Harvest ASA ("Marine Harvest" or the "Company") announces today that it
intends to issue EUR 375 million in principal amount of convertible bonds (the
"Bonds") with a five-year tenor.

The senior unsecured Bonds are convertible into common shares of the Company.
The Bonds are expected to have an annual coupon in the range of 0.875% - 1.500%
payable semi-annually in arrear and a conversion premium of 30.0% - 35.0% over
the volume weighted average price of the Company's common shares on the Oslo
Stock Exchange (translated into EUR) between launch and pricing.

The Bonds will be issued and redeemed at 100% of their principal amount and
will, unless previously redeemed, converted or purchased and cancelled, mature
in 2019. Marine Harvest has the right to call the Bonds after approximately
three years if the value of the Marine Harvest common shares underlying one Bond
on the Oslo Stock Exchange (translated into EUR) exceeds, for a specified period
of time, 130% of the principal amount of a Bond.

The Bonds are expected to be settled on or around 6 May 2014. The Bonds will not
be listed on issue but Marine Harvest may decide to list the Bonds on an
exchange at a later stage.

The proceeds from the Bonds will be used for general corporate purposes
including refinancing of the Company's indebtedness.

Credit Suisse and Goldman Sachs International are acting as joint bookrunners.

Marine Harvest expects to announce the final terms and conditions related to the
convertible bond transaction on 24 April 2014.


This announcement does not constitute or form part of an offer to sell or the
solicitation of an offer to subscribe for any securities of Marine Harvest.

Important Note
This press release is not being issued in or to the United States of America,
Canada, Australia, Japan or in any other jurisdiction in which such distribution
would be prohibited by applicable law. This press release does not constitute or
form part of an offer or solicitation of an offer to purchase or subscribe for
securities in the United States. The Bonds and the shares referred to herein
will not be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States, except pursuant to
an applicable exemption from registration. No offering of such securities is
being made in the United States.

This press release is directed only at persons who (i) are outside the United
Kingdom or (ii) have professional experience in matters relating to investments
who fall within Article 19(5) ("investment professionals") of The Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the
"Order") or (iii) are persons falling, within Article 49(2)(a) to (d) ("high net
worth companies, unincorporated associations etc") of the Order (all such
persons together being referred to as "relevant persons"). This press release is
directed only at relevant persons and must not be acted on or relied on by
persons who are not relevant persons. Any investment or investment activity to
which this press release relates is available only to relevant persons and will
be engaged in only with relevant
persons. In addition, if and to the extent that this press release is
communicated in, or the offered securities to which it relates is made in, any
EEA member state that has implemented Directive 2003/71/EC (as amended, and
together with any applicable implementing measures in any member state, the
"Prospectus Directive"), this press release and the offering described herein
are only addressed to and directed at persons in that member state who are
"qualified investors" within the meaning of the Prospectus Directive (or who are
other persons to whom the offer may lawfully be addressed) and must not be acted
on or relied on by other persons in that member state.

Credit Suisse and Goldman Sachs International are acting for the Company and no
one else in connection with the offer of the Bonds and will not be responsible
to any other person for providing the protections afforded to their client, or
for providing advice in relation to the proposed offer of the Bonds.

Stabilisation/FCA
In connection with the issue of the Bonds, the Stabilising Manager (or any
person acting on behalf of the Stabilising Manager) may over-allot Bonds or
effect transactions with a view to supporting the market price of the Bonds at a
level higher than that which might otherwise prevail. However, there is no
assurance that the Stabilising Manager (or any person acting on behalf of the
Stabilising Manager) will undertake stabilisation action. Any stabilisation
action may begin on or after the date on which adequate public disclosure of the
terms of the offer of the Bonds is made and, if begun, may be ended at any time,
but it must end no later than the earlier of 30 days after the issue date of the
Bonds and 60 days after the date of the allotment of the Bonds. Any
stabilisation action or over-allotment must be conducted by the relevant
Stabilising Manager (or any person acting on behalf of the Stabilising Manager)
in accordance with all applicable laws and rules.

For further information, please contact:
Ivan Vindheim, CFO, Tel: +47 958 71 310
Henrik Heiberg, Finance Director, Tel: +47 21 56 20 11, Mobile: +47 917 47 724


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1779512]