Strong Q4 from Austevoll Seafood

Correspondingly, the Group's operating result for 2008 shows a significant development with an EBITDA of MNOK 788 compared with MNOK 482 in 2007.

Q4 2008 Group income in the fourth quarter 2008 totalled MNOK 1,552.1 compared with MNOK 720.0 in Q4 2007. Operating result before depreciation (EBITDA) in the fourth quarter 2008 totalled MNOK 295.6 compared with MNOK 22.6 in Q4 2007. Prices for fish oil, canned and frozen products have been stable in the quarter. The price for fishmeal was lower in the fourth quarter compared with the third quarter.Fishing for anchoveta started in Peru in mid November and was divided into two seasons, November and December. Austevoll Seafood ASA (AUSS) increased its shareholding in Lerøy Seafood Group ASA (LSG) to 74.93% in Q4. LSG, once an associated company, is now a subsidiary with effect from December 2008, and was wholly consolidated as of 1 December 2008. This implies that the result for Q4 and the result for 2008 as a whole include LSG's result for December. The consolidated balance sheet as of 31 December 2008 reflects full consolidation of LSG.