NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN,
OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL.

Det vises til børsmeldingen til UBS Limited den 19. November 2012 vedrørende
utløp av stabiliseringsperioden for børsintroduksjonen ("Tilbudet") av
Borregaard ASA ("Borregaard", ticker: "BRG").

Ettersom overallokeringsopsjonen til UBS (på vegne av tilretteleggerene) på å
kjøpe tilleggsaksjer fra Orkla ASA ("Orkla", ticker: "ORK") ikke har blitt
utøvet, vil Orklas eierandel i Borregaard forbli på 19 %, noe som tilsvarer
19 000 000 aksjer.

Orkla er representert i styret i Borregaard og er derfor en primærinsider i
Borregaard, jf. verdipapirhandelloven § 4-2.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §§ 4-2 og
4-3.

Kontaktperson:
Rune Helland, Direktør Investor Relations, Orkla ASA
Telefon: +47 22 54 44 11 / +47 97 71 32 50

DISCLAIMERS

This announcement is not and does not form a part of any offer for sale of
securities.

Copies of this announcement are not being made and may not be distributed or
sent into the United States, Australia, Canada, Japan or any other jurisdiction
in which such distribution would be unlawful or would require registration or
other measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an exemption from the registration requirements of the
Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States.

Any offering of the securities referred to in this announcement will be made by
means of a prospectus. This announcement is not a prospectus for the purposes of
Directive 2003/71/EC (together with any applicable implementing measures in any
Member State, the "Prospectus Directive"). Investors should not subscribe for
any securities referred to in this announcement except on the basis of
information contained in the aforementioned prospectus.

In any EEA Member State other than Norway that has implemented the Prospectus
Directive, this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Directive, i.e., only to investors who can receive the offer without an approved
prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only to
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Stabilization/FSA

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe," "expect," "anticipate,"
"intends," "estimate," "will," "may," "continue," "should" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although Orkla believes that these assumptions were reasonable when made, these
assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

[HUG#1658948]

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