Golden Ocean Group

Share Issue/Capital Change • Mar 11, 2016

GOGL - Subsequent Offering - Last day of Subscription Period

GOGL - Subsequent Offering - Last day of Subscription Period

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN,

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

OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT

CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the previous announcements by Golden Ocean Group (the

"Company") in respect of the subsequent offering of up to 34,368,400 new shares

in the Company (the "Subsequent Offering").

The subscription period for the Subsequent Offering will expire today, March

11, 2016 at 16:30 hours (CET). Correctly completed subscription forms must be

received by one of the subscription offices, or, in the case of online

subscriptions, be registered, within this deadline.

Upon expiry of the subscription period, any subscription rights that have not

been exercised will expire and have no value.

For more information, please refer to the prospectus of the Company dated

February 23, 2016 (the "Prospectus"). The Prospectus is available at the

following websites: www.goldenocean.bm; www.danskebank.no/goldenocean;

www.dnb.no/emisjoner; www.arctic.com; http://securities.clarksons.com/emisjoner;

and www.nordea.no/gogl.

Danske Bank, DNB Markets, part of DNB Bank ASA, Arctic Securities AS, Clarksons

Platou Securities AS and Nordea Markets, part of Nordea Bank Norge ASA have

acted as Managers of the Subsequent Offering.

March 11, 2016

Hamilton, Bermuda

Golden Ocean Group Limited

***

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements.  The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements, which include statements

concerning plans, objectives, goals, strategies, future events or performance,

and underlying assumptions and other statements, which are other than statements

of historical facts. Words such as "believe," "anticipate," "intends,"

"estimate," "forecast," "project," "plan," "potential," "may," "should,"

"expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various

assumptions.  Although we believe that these assumptions were reasonable when

made, because these assumptions are inherently subject to significant

uncertainties and contingencies which are difficult or impossible to predict and

are beyond our control, we cannot assure you that we will achieve or accomplish

these expectations, beliefs or projections. The information set forth herein

speaks only as of the date hereof, and we disclaim any intention or obligation

to update any forward-looking statements as a result of developments occurring

after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,

important factors that, in our view, could cause actual results to differ

materially from those discussed in the forward-looking statements include the

strength of world economies, fluctuations in currencies and interest rates,

general market conditions, including fluctuations in charter hire rates and

vessel values, changes in demand in the dry bulk market, changes in our

operating expenses, including bunker prices, drydocking and insurance costs, the

market for our  vessels, availability of financing and refinancing, changes in

governmental rules and regulations or actions taken by regulatory authorities,

potential liability from pending or future litigation, general domestic and

international political conditions, potential disruption of shipping routes due

to accidents, political events or acts by terrorists, and other important

factors described from time to time in the reports filed by the Company with the

Securities and Exchange Commission.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1993603]