Morpol ASA : Morpol ASA - Amendment of the credit agreement dated 21 December 2010

Morpol ASA : Morpol ASA - Amendment of the credit agreement dated 21 December
                                     2010




Press Release
Morpol ASA - Amendment of the credit agreement dated 21 December 2010



Oslo, 20^th August 2013: Morpol ASA (OSE: MORPOL)

In December 2010 Morpol ASA entered into a five year loan facility of EUR  250 
million (the  "Agreement") with  the  bank consortium  in  which DnB  NOR  and 
Rabobank are the mandated  lead arrangers. On 20th  December 2012 the  Company 
and the Bank amended the credit agreement and changed the final maturity  date 
of the agreement  to 30.09.2013.  On the  2^nd of  May 2013  an amendment  was 
signed, that extended the final maturity date of the agreement to  31.12.2013. 
Today a further amendment has been signed. The new conditions set the required
maximum Gearing  Ratio, equal  to 4  quarters rolling  EBITDA divided  by  Net 
Interest Bearing Debt, at the end of Q2 2013 and at the end of Q3 2013 on  the 
level of 7.5 and 6.75 respectively.

Morpol had a net interesting bearing debt  of EUR 188.0 million at the end  of 
Q1 2013.

For further information, please contact:
Piotr  Kapinos,   Chief   Financial   Officer,   p.kapinos@morpol.com,   phone 
+48512400 151

About Morpol
The Morpol  Group  is  engaged  in  salmon processing  as  well  as  sale  and 
distribution of finished salmon products.
The Morpol Group's main products are:  cold and hot smoked salmon,  gravadlax, 
fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon  and 
salmon specialties. The  Morpol Group  also has salmon  farming activities  in 
Scotland since 2010  and Norway since  2011. The Morpol  Group had revenue  of 
approximately EUR 502.7 million in 2012.

Founded in 1996 in Ustka  on the Baltic coast  of Poland, the company  employs 
over 4 000  people in  nine countries.  Morpol Group  is the  world leader  in 
smoked salmon. The company has achieved its world leading position through the
efficiency of processing activities, a  constant focus on product quality  and 
service provided to retail and food service customers. Morpol serves customers
across Europe, Japan and the United States.
For more information, please visit our web site at www.morpol.com

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

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Source: Morpol ASA via Thomson Reuters ONE
HUG#1724062
 
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