Marine Farms increased its revenue by 20% in Q3 2009 compared to the
same period in 2008. EBIT ended at NOK 5 mill compared to NOK 28 mill
previous year. For the first nine months of 2009, revenue increased
almost 22%, while EBIT improved by NOK 34 mill.

- EBIT before fair value in the Q3 2009 ended at NOK -10.5 mill
compared to NOK 7.7 mill in 2008. The result was reduced due to sea
lice problems at Lakeland as well as delays in delivery of smolts. In
addition, Culmarex experienced low prices for seabass and seabream.
EBIT before fair value for the first 9 months of 2009 amounted to NOK
6.1 mill, compared to NOK 26.6 mill last year.

- The salmon operations in Lakeland (UK), a 100% owned subsidiary of
Marine Farms ASA, obtained an EBIT/kg gwt sold salmon of NOK 3.6 in
Q3 2009 (NOK 7.4 in 2008). Volumes kg sold salmon dropped by 9% in Q3
2009 compared to last year.

- The seabass/seabream operations in Culmarex (Spain), a 100% owned
subsidiary of Marine Farms ASA, obtained an EBIT/kg sold
seabass/seabream of NOK -4.7 in Q3 2009 (NOK 0.9 in 2008). Volumes kg
sold seabass/seabream increased by 39% in Q3 2009 compared last year.

- Costs related to the two cobia operations in Vietnam and in Belize
resulted in a negative EBIT of NOK -7.4 mill in Q3 2009 (NOK -10.7
mill in 2008).

- As of 30.09.2009, equity amounted to NOK 448 mill (34.5% equity
ratio) and net interest-bearing debt amounted to NOK 607 mill. As of
30.09.2009, the group had approximately NOK 100 mill in free cash and
available credit facilities.

Marine Farms ASA combines farming of salmon with farming of marine
species. In addition the Company is exploiting opportunities within
new marine species such as cobia. Marine Farms has a clearly defined
strategy to invest in regions/segments where it may become one of the
top producer's earnings wise. Focus is on large and efficient
clusters, controlling the entire value chain from broodfish to
customer. Its activity shall be diversified in terms of species and
markets, leveraging on established species and investing in new ones.
The company will seek market leadership in selected niches by being
an innovative and trustworthy supplier of high quality seafood
products.


For further information, please contact Bjørn Myrseth or Pål
Angell-Hansen:
Tel: +47 55 90 44 70
e-mail: bjorn.myrseth@marinefarms.no or
pal.angell-hansen@marinefarms.no
Web: www.marinefarms.com


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