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Norsk Hydro (NHY)

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Thursday 10 October, 2002

Norsk Hydro

Statement re KFK sells Swedish subsidiary

Oslo(2002-10-10): The Danish company Korn- og Foderstof Kompagniet
(KFK), in which Norsk Hydro owns 68.8 percent of the outstanding
shares, has signed an agreement relating to the divestment of its
subsidiary, Svenska Foder, to a purchasing consortium consisting of
Dansk Landbrugs Grovvareselskab (51 %) and Svenska Lantm�nnen (49%).

Svenska Foder, which has roughly 250 employees, had a turnover of SEK
1.8 billion in 2001. The sale will be completed by transferring all
shares to the consortium in return for an agreed cash payment of SEK
260 million. The transaction is dependent on the approval of the
Swedish competition authorities. The divestment involves an
accounting loss for Norsk Hydro of some NOK 70 million, which is
expected to be charged in the third quarter.
Following the previously agreed divestment of KFK's agricultural
operations in Denmark, KFK will have approximately 550 employees
working mainly within the fish-feed ( Biomar) and bioenergy
(Bioenergi) sectors. These activities will continue under the name
Treka A/S. The remaining activities had sales in 2001 of  DKK 2.5
billion, and EBIT of DKK 90 million. The divestment of further KFK
operations is under consideration.

Certain statements in this press release are or may constitute
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that are not in
the nature of historical facts may be deemed to be forward-looking
statements and may contain identifying words such as "believes",
"anticipates", "plans", "expects" and similar expressions. These
forward looking statements are based on Hydro's current expectations,
assumptions, estimates and projections about the company and the
industries in which it engages in business. All forward-looking
statements involve risks and uncertainties. For a detailed
description of factors that could cause Hydro's actual results to
differ materially from those expressed in or implied by such
statements, please refer to its annual report on Form 20-F for the
year-ended December 31, 2001 and subsequent filings on Form 6-K with
the U.S. Securities and Exchange Commission.

Contact   Tor Steinum           Norsk Hydro ASA
Telephone (+47) 22 53 27 31     Bygd�y all� 2
Cellular  (+47) 95 08 39 33     N-0240 Oslo
E-mail Norway
                                Telephone: (+47) 22 53 81 00
                                Fax: (+47) 22 53 27 25