Viking Supply Ships

Update on financial situation in Viking Supply Ships A/S

Press release

Reference is made to previous stock exchange releases regarding the ongoing

discussions with the company's stakeholders to agree a revised long term

financial platform.

The in-principle agreement with the banks as previously informed has now been

finalized, but remains subject to final credit committee approval. The company

will continue its negotiations with its investors and remaining financial

creditors with an aim to reach a final agreement with them as well.

In accordance with the principle agreements with the banks, the company will not

fully pay interest, amortizations or other commitments to neither its financial

creditors nor under the Odin Viking bareboat charter contract, other than where

an agreement for a long term financial platform has been reached. As a

consequence of this, the company has received a notice of default from Nordic

Trustee (on behalf of the bondholders).

The company has for some time been engaged in a dialogue with a few core

bondholders and their advisor. The company would like to invite all bondholders

to engage in such dialogue to reach an agreement, and ask that the holders of

the bonds contact Nordic Trustee on the contact details below.

If an acceptable solution is not reached with all relevant financial creditors,

Viking Supply Ships will consider all structural and strategic alternatives.

Contact details to Nordic Trustee:

Jørgen Andersen

Tel: +47 22 87 94 00

For further information please contact:

Ulrik Hegelund, CFO, ph. +45 41 77 83 97, e-mail

Morten G. Aggvin, IR & Treasury Director, ph. +47 41 04 71 25, e-mail

Viking Supply Ships AB (publ) is a Swedish company with headquarter in

Gothenburg, Sweden. Viking Supply Ships A/S is a subsidiary of Viking Supply

Ships AB (publ). In addition Viking Supply Ships AB (publ) has the subsidiary

TransAtlantic AB. The operations are focused on offshore and icebreaking

primarily in Arctic and subarctic areas as well as on Shipping services mainly

between the Baltic Sea and the Continent. The company has in total about 500

employees and the turnover in 2015 was MSEK 1,977. The company's B-shares are

listed on the NASDAQ Stockholm, Small Cap segment. For further information,

please visit: www.vikingsupply.com

Viking Supply Ships AB is obliged to make this information public according to

the Financial Markets Act and/or the Financial Instruments Trading Act (Sw:

lagen om värdepappersmarknaden and lagen om handel med finansiella instrument).

The information was submitted for publication on 24 June 2016 at 11:10.

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