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Orkla ASA : CONTEMPLATED SECONDARY SALE OF SHARES IN RENEWABLE ENERGY CORPORATION ASA

    Orkla ASA : CONTEMPLATED SECONDARY SALE OF SHARES IN RENEWABLE ENERGY
                               CORPORATION ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Orkla ASA ("Orkla") hereby announces a contemplated private placement of up to
329,569,968 existing shares in Renewable Energy Corporation ASA ("REC"). The
price per share in the Private Placement will be determined through an
accelerated book-building process. The minimum order and allocation has been
set to the number of shares that equals an aggregate purchase price of at
least the NOK equivalent of EUR 100,000.

The book-building period commences today, 30 April 2013, at 16:35 CET and may
close at any time on short notice. Orkla may complete or terminate the Private
Placement at its own discretion.

SEB and DNB Markets have been appointed as joint-lead managers and
book-runners for the Private Placement. 

Orkla is currently a primary insider in REC.

For further information, please contact:
SEB, telephone +47 21 00 85 32
DNB Markets, telephone +47 24 16 92 26
Oslo, 30 April 2013

                                     ****

This press release does not constitute or form part of an offer or
solicitation to purchase or subscribe for securities in the United States. The
securities referred to herein may not be offered or sold in the United States
absent registration or an exemption from registration as provided in the U.S.
Securities Act of 1933, as amended. The Company does not intend to register
any portion of the offering of the securities in the United States or to
conduct a public offering of the securities in the United States. Copies of
this announcement are not being made and may not be distributed or sent into
the Australia, Canada, Japan or the United States.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Orkla ASA via Thomson Reuters ONE
HUG#1698014