DOF ASA

LETTER FROM THE FINANCIAL CREDITORS

The board of directors of the subsidiaries of DOF ASA has received a new letter

from the financial creditors of the DOF Group, in which it is expressed that the

process of completing the Restructuring Agreement will continue and that any

adverse effects of the Restructuring should only apply to DOF ASA which now is

merely a holding company with no operations. The financial creditors further

express its continued support throughout the process. As such, all operations

within the DOF Group will continue as normal.

Enclosed: letter from the financial creditors

For further information, please contact:

CEO Mons Aase, tel. + 47 91 66 10 12

CFO Hilde Drønen, tel. + 47 91 66 10 09

With a multi-national workforce of about 3,900 personnel, DOF ASA is an

international group of companies which owns and operates a fleet of modern

offshore/subsea vessels, and engineering capacity to service both the offshore

and subsea market. With 40 years in the offshore business, the group has a

strong position in terms of experience, innovation, product range, technology

and capacity.

DOF's core businesses are vessel ownership, vessel management, project

management, engineering, vessel operations, survey, remote intervention and

diving operations primarily for the oil and gas sector. From PSV charter to

Subsea engineering, DOF offers a full spectrum of top quality offshore services

to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway,

the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.

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