The Offering consists of 1,000,000 new shares and 1,000,000 existing shares from Marine Farms' stock of own Shares. The Offer Price per share is NOK 14.0. The share capital increase is based on an authorization given to the Board of Directors by the general meeting on the 22nd of May 2006.

As a result of the Share Issue, the share capital of Marine Farms will increase with NOK 2,000,000, from NOK 64,637,256 to NOK 66,637,256, and the number of shares outstanding will increase with 1,000,000, from 32,318,628 to 33,318,628. After the Offering, Marine Farms will reduce its stock of own shares from 1,008,000 to 8,000.

The gross proceeds from the Offering equal NOK 28,000,000 (NOK 14,000,000 from the issue of new shares and NOK 14,000,000 from the sale of existing shares from Marine Farms' stock of own shares) before adjusting for discount to investors in the Retail Offering and fees and expenses.

A total of 1,000,000 shares were allocated to retail investors and 1,000,000 shares were allocated to institutional investors, in line with the prospectus dated 25th of September 2006. A total of 1,430 investors were allocated shares in the offering, which will increase the number of shareholders in Marine Farms from approximately 200 to approximately 1,630, far exceeding Marine Farms' expectations.

All investors that are allocated shares in the Retail Offering will receive a discount of 10% per share for 500 shares (will each receive 500 shares at NOK 12.60 per share). As the number of investors that were allocated shares in the Retail Offering equaled 1,416, a total of 708,000 discounted shares will be issued in the Offering.

Information regarding allocation and payment instructions will be sent to participating investors on 10th or 11th of October 2006. First day of trading of the Marine Farms shares on Oslo Børs in 12th October 2006.

The Offering was significantly over-subscribed and the Board of Directors is very pleased with the result from the Offering.

The Offering was managed by ABG Sundal Collier Norge ASA. Nordnet Bank NUF acted as placing agent in the Retail Offering.

Marine Farms ASA, Board of Directors
10th of October 2006

For further information, please contact:

Chief Executive Officer
Bjørn Myrseth
Tel: + 47 55 90 44 70 / +47 90 55 49 63

Chief Financial Officer
Pål Angell-Hansen
Tel: + 47 55 90 44 72 / + 47 91 57 81 73

ABOUT MARINE FARMS: Marine Farms ASA is an international aquaculture company with a diversified and integrated seafood portfolio. Marine Farms holds significant market positions within the production of farmed salmon in Scotland and farmed seabass and seabream in Spain, and is launching ambitious cobia operations in Belize and Vietnam.

NOTE: This Oslo Børs announcement is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities. Please refer to the Prospectus dated 25 September 2006 for complete Offering information. The distribution of this Oslo Børs announcement and the offer and sale of shares in Marine Farms is in certain jurisdiction prohibited by law. Any persons reading this Oslo Børs announcement should inform themselves of and observe any such restrictions. Neither this Oslo Børs announcement, nor the Prospectus, or any copies thereof, may be copied, taken, disseminated or transmitted into the United States or distributed, directly or indirectly, in the United States, Canada, or Japan or to any U.S. persons.

This Oslo Børs announcement is not an offer of securities for sale in the United States. The offer and sale of the securities of Marine Farms have not, and will not be, registered under the United States Securities Act of 1933, as amended. The securities may no be offered or sold in the United States absent such registration or an applicable exemption from such registration.