UPDATE FROM THE BOARD OF DIRECTORS OF COPEINCA ASA IN CONNECTION WITH THE VOLUNTARY OFFERS

The Board of Directors (the "Board") of Copeinca ASA ("Copeinca" or the "Company") wishes to provide an update on the current situation with respect to the voluntary offers for the Company.

On 23 May 2013, the Board of Directors of Cermaq ASA ("Cermaq") announced that Cermaq (i) withdraws its current voluntary offer for Copeinca (ii) will not accept the current offer for Copeinca from China Fishery Group Limited ("CFGL") and (iii) will support an initiative by Copeinca to solicit interest from parties interested in Copeinca to maximize shareholder value

As per the announcement by CFGL on 11 May 2013, the CFGL offer for Copeinca at NOK 59.70 per share will expire at 21:00pm CET on 23 May 2013. The Board notes the announcement by CFGL on 21 May 2013 which states that CFGL's 50.1% acceptance condition remains, and that in the event the current offer should be unsuccessful, CFGL intends to make a new offer and will also consider increasing the offer price above NOK 59.70 per share.

The Board has been informed by each of Dyer Coriat Holding SL ("DCH") and Weilheim Investments SL ("Weilheim") that each of them will not accept the current offer from CFGL. Together with the announcement from Cermaq, this means that shareholders controlling 51.5% of Copeinca's outstanding shares will not accept the current offer from CFGL and the Board consequently recognises that the CFGL offer condition of minimum 50.1% acceptance will not be satisfied.

The Board will reinitiate a process which will seek to maximise value for all Copeinca's shareholders by soliciting interest from parties potentially interested in acquiring Copeinca. The Board is confident that Cermaq, DCH and/or Weilheim would consider favourably any transaction that may result from such process, provided that this would be in the best interest of all Copeinca's shareholders.

For further information, please contact:

Samuel Dyer Coriat
Chairman, Copeinca ASA
Email: [e-mail]
Tel: + 51-(1)-213 4040

Mikkel Storm-Jensen Managing Director and Co-Head of Nordic IBD UBS   Email: [e-mail] Mobile: [phone] Tel: [phone]	Enrique Vivot Managing Director and Head of Latam Andean Region UBS Email: [e-mail] Mobile: [phone] Tel: [phone]
Per Even Hauge         Director DNB Markets     Email: [e-mail] Mobile: [phone]       Tel: [phone]	Torleif Ernstsen Director Carnegie Email: [e-mail] Mobile: [phone] Tel: [phone]

About Copeinca ASA
Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru. The Company produces its fishmeal and fish oil from anchovy harvested off the coast of Peru, and most of its production is exported. Key countries for export are China, Japan, Germany, Canada, Chile and Denmark.  Typical customers are fish and animal feed producers as well as refineries for omega-3 products.  Copeinca ASA runs its operations out of Lima and has its own fleet.  Copeinca ASA operates 5 plants located in strategic locations all around the Peruvian coast line. The company has around 1,400 part and full time employees.

Please visit www.copeinca.com  

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

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Source: Copeinca via Thomson Reuters ONE

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