Golden Ocean Group

Delisting Announcement • Feb 23, 2016

GOGL - Golden Ocean Group Limited announces receipt of NASDAQ Notice

GOGL - Golden Ocean Group Limited announces receipt of NASDAQ Notice

HAMILTON, Bermuda, February 23, 2016 (GLOBE NEWSWIRE) -- Golden Ocean Group

Limited ("Golden Ocean" or the "Company") announced today it has received

written notification from The Nasdaq Stock Market ("Nasdaq") dated February

18, 2016 indicating that because the closing bid price of the Company's common

stock for 30 consecutive business days, from January 5, 2016 to February

17, 2016, was below the minimum $1.00 per share bid price requirement for

continued listing on the Nasdaq Capital Market, the Company is not in compliance

with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule

5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or

until August 16, 2016.

The Company intends to monitor the closing bid price of its common stock between

now and August 16, 2016 and is considering its options, including a reverse

stock split, in order to regain compliance with the Nasdaq Capital Market

minimum bid price requirement. The Company can cure this deficiency if the

closing bid price of its common stock is $1.00 per share or higher for at least

ten consecutive business days during the grace period. In the event the Company

does not regain compliance within the 180-day grace period and it meets all

other listing standards and requirements, the Company may be eligible for

additional 180-day grace period.

The Company intends to cure the deficiency within the prescribed grace period.

During this time, the Company's common stock will continue to be listed and

trade on the Nasdaq Capital Market.

The Company's business operations are not affected by the receipt of the

notification.

February 23, 2016

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

Contact Persons:

Herman Billung: CEO, Golden Ocean Management AS

+47 22 01 73 41

Birgitte Ringstad Vartdal: CFO, Golden Ocean Management AS

+47 22 01 73 53

Forward-Looking Statements

Matters discussed in this report 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.

Golden Ocean Group Limited and its subsidiaries, or the Company, desires to take

advantage of the safe harbor provisions of the Private Securities Litigation

Reform Act of 1995 and is including this cautionary statement in connection with

this safe harbor legislation. This report and any other written or oral

statements made by us or on our behalf may include forward-looking statements,

which reflect our current views with respect to future events and financial

performance. The words "believe," "anticipate," "intend," "estimate,"

"forecast," "project," "plan," "potential," "will," "may," "should," "expect"

and similar expressions identify forward-looking statements.

The forward-looking statements in this report are based upon various

assumptions, including, without limitation, management's examination of

historical operating trends, data contained in our records and data available

from third parties. 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. We undertake no obligation to update

any forward-looking statements, whether as a result of new information, future

events or otherwise.

In addition to these important factors and matters discussed elsewhere herein

and in the documents incorporated by reference 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 the Company's operating

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

for the Company's 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, or the Commission.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1988780]