Divestment of Svenska Foder concluded

(Jan. 31, 2003) The divestment of the Swedish agricultural company Svenska Foder was formally concluded on Friday.

All shares in Svenska Foder have been transferred to Dansk Landbrugs Grovvareselskab and Svenska Lantmännen, which now own shareholdings of 51 and 49 percent respectively.

A price of SEK 185 million, paid in cash, has been provisionally agreed on for the sale of the shares. In addition, the former parent company of Svenska Foder, Treka A/S, has received a dividend of SEK 75 million for the accounting year 2002. The final purchase sum will be adjusted in line with Svenska Foder's results for 2003. This adjustment is expected to represent an insignificant amount.

The Danish company Korn og Foderstof Kompagniet (KFK) changed its name last November to Treka A/S, once agreements were signed relating to the sale of the company's Danish and Swedish agricultural activities. Treka A/S' operations are now concentrated on two main activities: fish meal through BioMar and bioenergy through EcoNordic.

Hydro holds an ownership stake of roughly 68 percent in Treka A/S, a publicly quoted company.