January 23, 2008

Major fishmeal companies in Europe explore merging of operations

Origin Enterprises plc  and Austevoll Seafood ASA (''AUSS'') announce that they have entered exploratory discussions with a view to combining their respective fishmeal and fish oil operations within Europe.

These discussions will be subject to final agreement, confirmatory due diligence, mutually acceptable legal documentation, respective Board approvals and relevant consents.

United Fish Industries, Killybegs, is a subsidiary of Origin Enterprises plc.  

Origin's fishmeal and fish oil activities are carried on through wholly owned operations in Ireland and the United Kingdom in addition to its 50 percent interest in a manufacturing facility in the Shetland Islands.

About Origin Enterprises plc

Origin Enterprises plc is a leading Agri-Nutrition and Food company listed on the IEX and AIM markets of the Irish and London Stock Exchanges.  The Agri-Nutrition division, through its manufacturing and distribution operations in Ireland and the United Kingdom, has leading market positions in the supply of feed ingredients, crop nutrition and specialist marine proteins. The Group's Food division, comprising sales, marketing, distribution and manufacturing activities in Ireland, has leadership positions in ambient food across the retail, food service and manufacturing sectors. 

About Austevoll Seafood ASA

AUSS carries out its European fishmeal and fish oil operations through its wholly owned subsidiary Welcon Invest AS.

Austevoll Seafood ASA is listed on the Norwegian Stock Exchange and has operations in Norway, Peru and Chile.  AUSS is one of the largest producers of fishmeal, fish oil, canned and high concentrated Omega 3 products (marine proteins) in the world.