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Atle Eide joins HitecVision as Partner

September 17, 2007:HitecVision Private Equity announces the appointment of Atle Eide, Chairman of the Board of our Fund III and former CEO of Marine Harvest, as Partner.

Stavanger, 17th September 2007: HitecVision Private Equity announces the appointment of Atle Eide, Chairman of the board of HitecVision Private Equity III and former CEO of Marine Harvest, as Partner.

Atle Eide has for the past 4 years been CEO of Marine Harvest ASA and one of its predecessors Pan Fish ASA.  During this time he led the turnaround and development of the company from a financially-distressed mid-size company to the world’s leading Seafood company. His previous experience includes the CEO position of a number of listed and unlisted companies. Eide is known for his ability to build leading international businesses through extensive M&A and restructuring activities.

Eide has been non-executive chairman of the board of the fund HitecVision Private Equity III since its inception in 2002, and has also held a number of non-executive board positions in companies such as Fokus Bank, Acta, Cermaq and SalMar.

Ole Ertvaag, Founding Partner and CEO of HitecVision, states: “I am very pleased that we have been successful in getting Atle Eide on our team. As Chairman of the board of our Fund III since 2002, Eide already knows HitecVision well. His background covers all the phases of the private equity value chain, from investments to active ownership and the exit phase. These skills, combined with the enthusiasm and energy which characterizes Eide, make him an ideal fit for HitecVision.”

Atle Eide comments: “Having followed HitecVision closely for the past 5 years, I am impressed with the team’s achievements and ambitions for further growth. I am excited to get the opportunity to actively participate in the development of HitecVision’s investments and in reaching the organizational goals.”

Eide will be based in HitecVision’s head office in Stavanger, and will take up his position later this fall.