Klaveness Combination Carriers

Capital/Financing Update • Dec 9, 2016

Call notice for KSH01

Call notice for KSH01

Oslo 9 December 2016 - Call notice for "FRN Klaveness

Ship Holding AS Senior Unsecured Bond Issue 2013/2018"

with ISIN NO 0010675986 and ticker KSH01 PRO

(the "Bond Issue or the "Bonds")

With reference to the stock exchange notices of 22

November 2016, Klaveness Ship Holding AS hereby

informs it has, with effect as of today, exercised the

call option for redeeming the Bond Issue in whole.

Pursuant to section 10.2 of the bond agreement

pertaining to the Bond Issue, the Bond Issue will be

redeemed at 103.00% of par value (plus accrued

interest on the redeemed amount) with settlement

expected to occur on 23 January 2017.

For further information, please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness), Tel:+47

22 52 62 38

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness),

Tel.: +47 22 52 64 41