PAN - Changes to group management

Stavanger, 28 June 2004: The Pan Fish Group announced today that the final touches have been made to the final refinancing of the Group and that work has started on rebuilding the company to its former position of one of the world's leading salmon producers. Pan Fish has set the clear and unambiguous target of becoming a global supplier of quality salmon with the lowest production costs. This requires all members of group management to possess more than enough skill, experience and capacity to be able to follow up the company's this specific fundamental goal.