Mandatory notification of trade - options

Under its option programme for senior executives, Orkla exercised 475,000
options with average strike NOK 39,97 on the last exercise date, 15 December
2010.

At the same time, 160,000 options were cancelled due to resignations.

A list of the primary insiders affected by the option exercise is attached
herewith.

After this transaction, the total number of options issued in Orkla shares is
now 19,769,500. Orkla has a hedge through a cash-settled financial derivative of
600,000 underlying shares related to the option programmes.

Orkla owns 6,958,597 treasury shares.

Orkla ASA

Oslo, 16 December 2010


Contact Orkla Investor Relations:

Rune Helland, Tel: +47?22 54 44 11

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



[HUG#1473054]