Danish Carlsberg A/S’ acquisition of Orkla’s 40 % shareholding in Carlsberg Breweries has been completed on 8 March 2004, Carlsberg A/S announced to the Copenhagen Stock Exchange. Consequently, the Executive Board of Carlsberg A/S now comprises Nils S. Andersen, Chief Executive Officer, Jørn P. Jensen, Executive Vice President and CFO and Paul Bergqvist, Executive Vice President. Orkla’s members of the Board of Directors of Carlsberg Breweries have resigned from the company’s Board.

10 March, 2004