Belships

Belships ASA : Acceptances received under mandatory offer

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION IN OR INTO THE US, AUSTRALIA, CANADA,

JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE

UNLAWFUL

Reference is made to the mandatory offer (the "Offer") to acquire all issued and

outstanding shares in Belships ASA ("Belships" or the "Company") made by

Kontrari AS and Kontrazi AS (the "Offerors"), as set out in the offer document

dated 14 March 2019.

Today, on 1 April 2019, the Offerors have been notified that acceptances under

the Offer for 745,704 shares have been received today. Together with the

120,454,198 shares already owned and previous acceptances, the Offerors will

thus, upon completion of the Offer, own and hold rights to a total of

128,004,088 shares, corresponding to 73.1% of the issued shares and outstanding

votes in the Company.

The Offerors are related parties to Frode Teigen who is a member of the board of

directors of Belships ASA.

1 April 2019

Kontrari AS and Kontrazi AS

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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