Highlights in the second quarter 2011

Ø Considerable fall in salmon prices in the latter half of the second quarter

Ø  Continued focus on operational efficiency  and utilisation of capacity in our
farming operations

   o Satisfactory operations and good biological status
   o  Lower  harvested  volume  than  estimated  in  the quarter due to deferred
harvesting  as a  result of  slower growth  and low  market prices in the end of
second quarter
   o Harvested volume for 2011 estimated at 20,000 tons

  Ø  Slightly higher  costs than  planned due  to operational and organisational
expansion in connection with growth in the company's farming operations

  Ø Sales business improved volumes and margins through the second quarter

  Ø  EBIT before fair-value  adjustments and non-recurring  effects totalled NOK
31.7 million (NOK 52.0 million)

  Ø A dividend of NOK 0.91 per share was paid out


Financial performance in the second quarter 2011

Norway  Royal Salmon  (NRS) posted  EBIT before  fair-value adjustments and non-
recurring  effects of NOK 31.6 million in the second quarter 2011, compared with
NOK  52.0 million in the corresponding quarter  last year. The reduction in EBIT
can  largely be ascribed to lower salmon prices than in the corresponding period
last year.

The  Group made  a loss  before tax  of NOK  62.7 million in the second quarter,
after a NOK 82.9 million downward fair value adjustment prompted by lower market
prices  than at the close of the previous  quarter. The Group had a net positive
cash flow from operating activities of NOK 2.2 million.

At  the close of the quarter  equity totalled NOK 531 million, which corresponds
to  an equity ratio of 36.3 per cent. Net interest-bearing debts at the close of
the second quarter totalled NOK 481 million.

Fish Farming
Fish  Farming returned EBIT before fair-value adjustments of NOK 30.8 million in
the  second quarter  2011, compared with  NOK 45.5 million  in the corresponding
quarter  last year.  EBIT per  kg gutted  weight (before fair-value adjustments)
came  to NOK  9.20 in the  second quarter  2011, compared with  NOK 13.91 in the
corresponding quarter last year.

A  total of 3,351 tons gutted weight  was harvested during the quarter, compared
with  3,269 tons in the same quarter last  year. Fish Farming expects to harvest
an  estimated 20,000 tons in 2011. The  Group owns 25 production licences, which
give an annual production capacity of almost 30,000 tons gutted weight.

NRS therefore has a substantial unutilised production capacity, whose profitable
exploitation  we  are  working  hard  to  achieve.  Given  the  volume  of smolt
transferred  to the  sea and  today's biomass,  the company  is on schedule with
regard to the coming years' planned harvesting volumes and capacity utilisation.

Sales
Sales posted EBIT before fair-value adjustments of NOK 5.2 million in the second
quarter 2011, compared with NOK 10.1 million in the same quarter last year. EBIT
per  kg before  fair-value adjustments  came to  NOK 0.46 in  the second quarter
2011, compared  with NOK 0.77 in the corresponding quarter last year. A total of
11,244 tons  of farmed fish was traded  during the quarter, 1,900 tons less than
in the same quarter last year.

The  price of  salmon fell  sharply during  the second  quarter this  year, as a
result  of increased supplies entering the  market largely due to higher volumes
being exported from Chile.

Norway Royal Salmon ASA in brief
Norway  Royal Salmon ASA (NRS) is the  majority shareholder in four fish farming
companies  which  own  a  combined  total  of  25 production  licences, and is a
minority  shareholder in four fish farming companies (associates) which together
own  nine production  licences. NRS  is an  attractively positioned fish farming
group  which, through an extensive network  of collaborating enterprises and in-
house  production units, offers salmon  and trout to the  market through its own
sales organisation. For further details, please seewww.norwayroyalsalmon.com.

For more information, please contact:

  * CEO John Binde, +47 9760 9400
  * CFO Ola Loe, +47 9117 9411.


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1539871]