Reference is made to Marine Farms ASA’s (“MAFA”) announcement regarding a planned private placement on 14 June 2006.

The private placement is now completed, subject to satisfactory completion of the acquisition of Niord Sea.

Marine Farms intends to issue a total of 25,408,000 new shares, using the entire board authorization equal to 50% of the current share capital, at a subscription price of NOK 7.0 per share, corresponding to total gross proceeds of NOK 177,856,000.

The board of directors of Marine Farms is pleased with the response to the private placement from both Norwegian and international investors as well as existing shareholders.

The proceeds from the private placement will be used to fund the planned acquisition of Niord Sea, and the private placement will not be completed if MAFA fails to reach a satisfactory agreement with the seller of Niord Sea. Closing of the Niord Sea acquisition is expected in week 26.

After approval and registration of the private placement, the number of shares in MAFA, each with a par value of NOK 1.0, will increase from 50,816,005 to 76,224,005.

                       

The private placement was managed by ABG Sundal Collier Norge ASA.

Bergen, 23 June 2006

Marine Farms ASA, Board of Directors

For further information, please contact:

Ove Berg at +47 55 90 44 70

Trygve Bruvik – Chairman of the Board.