Press release

Orkla sells Elkem to China National Bluestar - Seite 2

with Bluestar Elkem will have a strong platform for promoting its technological
leadership and securing a prosperous development going forward. For Elkem, with
Bluestar as our new owner, we will achieve one of our main targets, namely a
stronger presence in Asia in general and in China in particular. This will
strengthen the position of our plants, both in Norway and in the rest of the
world. In addition, Elkem will also have the opportunity to take a leading role
in the upgrading and further development of Bluestar´s silicon-related
operations, especially in China. We look forward to working with our new
colleagues from Bluestar. "

Mr Ren Jianxin, President of Chemchina and Chairman of Bluestar, sees strong
potential for a combined Elkem-Bluestar organisation:

 "Elkem will play an active role in promoting the international and
technological management  of Bluestar´s business, further expanding Bluestar´s
silicone industry chain and improving its  global competitiveness.. Combining
Bluestar with Elkem will be of great benefit to both companies:  For Elkem, its
access to Asia, and especially China will be significantly enhanced going
forward, which is a real advantage given the size and growth of China and Asia
for most of Elkem´s products. For Bluestar, the combination with Elkem will give
them access to Elkem´s excellent management experience and industry-leading
technological know-how. We strongly believe in the huge potential for Elkem´s
new solar-grade technology with its leading energy efficiency and environmental
safety characteristics.  I am welcoming Elkem into the Bluestar family as I am
convinced that our diversity in terms of management background and technology,
industry experience, culture and regional footprint will be the source of our
combined strength.

The transaction will not involve significant changes to Elkem´s main structure
or to the operation of its existing plants. Completion of the transaction is
subject to the approval by certain Chinese and competition authorities, as well
as the approval by the Norwegian authorities. Completion is expected during the
1(st) half of 2011.

Bluestar was assisted by The Royal Bank of Scotland as financial advisor, and
Selmer and Skadden as legal advisors. Orkla was assisted by Moelis & Company as
financial advisor and Thommessen as legal advisor.

A press conference will be held at Orkla`s head office at Skøyen in Oslo, today
at 10.00 CET. The press conference will be webcasted at www.orkla.com.

Orkla ASA
Oslo, 11 January 2011

For more information please contacts:

Bjørn Wiggen, CEO Orkla ASA:  [phone]

Helge Aasen, CEO Elkem AS and Elkem Solar AS:  [phone]

Rune Helland, SVP Investor Relations, Orkla ASA:  [phone]

Johan Chr. Hovland, SVP Corporate Communications

and Public Affairs, Orkla ASA: [phone]

Robert LU, CEO Bluestar: [phone]

Yougen GE, Assistant of CEO, Bluestar: [phone]

Yuxin XI, Communication Director, Bluestar: [phone]

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

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