Marine Harvest 100 000 tons in Q4

Published Modified

As previously communicated Marine Harvest has initiated a new information policy with respect to the reporting of actual harvest volumes. Shortly after the end of each quarter, Marine Harvest will publish the actual harvest volumes. The harvest volumes will be provided in head on gutted (HOG) equivalents. Harvest volumes Q4 2007 (HOG) Norway 53,000 tonnes Chile 24,300 tonnes Canada 9,800 tonnes Scotland 9,500 tonnes Other 4,200 tonnes Total 100,800 tonnes Note: Figures include salmonid species only In the Q3 presentation material Marine Harvest communicated its policy for the handling of ISA outbreaks in Chile, including its information policy with respect to financial consequences. ISA is a highly contagious disease which principally affects Atlantic salmon. In Q3 two sites were harvested out and the group made a provision of NOK 54.1 million for the destruction/slaughter of fish in additional sites infected by ISA. The provision was utilised in Q4 in connection with destruction/slaughter of fish in 3 sites. Since the Q3 reporting date, the negative biological situation in Chile has escalated further. ISA has continued to spread and several additional active sites in Chile are closely monitored for ISA. Due to the ISA disease a cost of NOK 80 million mainly relating to expected destruction/slaughter in Q1 will be charged in the Q4 accounts. This figure also includes a minor harvesting/destruction cost in Q4 in excess of the provision made in Q3. Marine Harvest will continue to communicate material decisions relating to ISA to the market on an ongoing basis. In the coming months the medium term scope of Marine Harvest`s operations in region 10 will be evaluated. Regardless of the ongoing issues in region 10 the long term perspective for salmon farming in Chile is promising. The Q4 results will be released on February 15 2008.