Marine Farms - Marine Farm ASA – Private Placement

Contact information

Marine Farms ASA
Postboks 2032, Nordnes
5817 Bergen
Norway

Phone: +47 55 90 44 70
Fax: +47 55 23 46 45

NO 930 501 778 MVA

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Marine Farm ASA – Private Placement

The Board of Directors of Marine Farms ASA ("Marine Farms") plans to complete a private placement of up to 3,300,000 new shares. The private placement will be marketed to professional and institutional investors today (1 February 2007).

Proceeds from the private placement shall be used to finance the expansion of Marine Farms' Spanish seabass and seabream operations, hereunder the planned acquisition of Cultivos del Ponto. Marine Farms is in the process of completing the due diligence process in connection with the Cultivos del Ponto acquisition, and expects to complete the transaction in line with the terms indicated in the stock exchange announcement on 2 January 2007.

Following the Cultivos del Ponto acquisition, Marine Farms' annual production capacity in Spain will increase by approximately 3,000 tonnes, to approximately 9,000 tonnes, and Marine Farms will become the largest producer of seabass and seabream in Spain and one of the largest producers in the Mediterranean.

ABG Sundal Collier has been retained as Marine Farms' advisor in connection with the planned private placement.

Marine Farms ASA
1 February 2007

For further information, please contact (telephone +47 55 90 44 70):
Pål-Angell Hansen, CFO (telephone +47 91 57 81 73)
www.marinefarms.no