Viking Supply Ships

Update on financial situation in Viking Supply Ships A/S

Press release

On 9 June 2016, Viking Supply Ships A/S ("VSS A/S") was informed that Norseman

Offshore AS has filed an application for bankruptcy against VSS A/S with the

Maritime and Commercial High Court in Copenhagen. The company has not yet been

officially notified of the petition by the Court. Norseman Offshore AS is the

owner of the vessel Odin Viking which is on a bareboat charter with VSS A/S. The

petition for bankruptcy is made on the basis of unpaid hire in an aggregate

amount of approximately USD 2.5 million.

The parties have been in discussions for several months as part of the overall

financial restructuring of the group. VSS A/S is of the view that there is no

basis for the petition and will vigorously defend itself against it. VSS A/S

will continue to pursue the process to achieve a restructuring of its debts as

further described in the annual report for 2015.

The Q1 financial report which was scheduled for release today 08:30 will in

light of the recent development be published later during today. The investor

call scheduled for today 10:00 will be re-scheduled to Monday 13 June 10:00.

For further information please contact:

Christian W. Berg, CEO, ph. +45 41 77 83 80, e

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

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 The information was submitted for publication

on 10 June 2016 08:32

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