After several years of annual ad hoc agreements, Norway and EU have now entered
into a long term bilateral agreement on mackerel. This agreement regulates
important issues such as the division of the total mackerel quotas between the
parties, and questions of mutual zone access in the parties' mackerel fisheries.

Norwegian vessels mackerel fisheries in the EU zone were on the 2. October last
year suddenly closed after disagreements between Norway and EU concerning the
agreements on mutual zone access. At this time, Norwegian vessels had a
remaining quota of approximately 70.000 tons. This affected the raw material
supply for Norway Pelagic in 2009, as it was limited to 79.000 tons.

The remaining quota of 70.000 tons will be caught in 2010, and this means
Norwegian vessels will be allowed to catch 246.000 tons mackerel in 2010. The
agreement will imply greater flexibility for both industry and fleet to adjust
activity in terms with market conditions. In the longer run, It will also imply
a more stable framework conditions for Norway Pelagic in terms of stable and
substantial deliveries, both from Norwegian and foreign vessels. The agreement
implies extended access to each others zones in 2010 and full access from 2011.

Norway Pelagic had in 2009 40% of all mackerel landings in Norway, and will aim
to have at least the same share in 2010.

Contact: Sigurd Teige, Chairman of the Board, tel 913 69 300

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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