Golden Ocean Group

M&A Activity • Apr 15, 2014

GOGL - Acquisition of ice class Panamax vessel

GOGL - Acquisition of ice class Panamax vessel

Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to

announce that the Company has entered into an agreement to purchase one ice

class Panamax vessel resale built at Pipavav Defence & Offshore Engineering

Company ("Pipavav"). Golden Ocean is expected to take delivery of the vessel ex

yard during second quarter 2014. The vessel will be named Golden Ruby and is

acquired from a third party.

The price of the vessel is considered to be attractive, bearing in mind the

additional requirements for an ice class vessel. The Company will after this

purchase have ten fairly identical ice class vessels and is the leading owner

within this niche. Golden Ocean has over time gained experience in how to

utilize this type of vessels both commercially and technically. Since the first

ice class vessel was delivered to the Company six years ago we have been able to

achieve a premium compared to the prevailing spot market during the winter

season and we are serving some of our most important clients to their

satisfaction.

April 15, 2014

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

Contact Persons:

Herman Billung: CEO, Golden Ocean Management AS

+47 22 01 73 41

Per Heiberg: Acting CFO, Golden Ocean Management AS

+47 22 01 73 45

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1777406]