DOF ASA

DOF ASA: REQUEST FOR NEW EXTRAORDINARY GENERAL MEETING AND NEW LETTER FROM THE FINANCIAL CREDITORS

The board of directors of DOF ASA has pursuant to section 5-7(2) of the

Norwegian Public Limited Companies Act received a request for an extraordinary

general meeting ("EGM") to be held to consider a proposal to elect a new board

of directors in the company. The request has been submitted on behalf of Bjarte

Brønmo and Sans Invest AS holding more than 5% of the share capital. It has been

informed that Leif Salomonsen will be proposed as new chair of the board and

that the other candidates will be presented prior to the general meeting.

The board of directors will convene an EGM to be held no later than 14 December

We also attach a new letter received from the financial creditors of the DOF

Group, in which it (i) once again is reiterated by the financial creditors that

there is no room for further negotiations, (ii) is confirmed that the financial

creditors stand by their statement that they, if necessary, will contribute to

implementation of the restructuring through a forced reconstruction and/or

bankruptcy in DOF ASA and (ii) is expressed that the financial creditors

thereby, and in order to preserve the interests of the DOF Group's employees,

suppliers and customers, are prepared to contribute to the preservation of the

DOF Group's value as a going concern irrespective of the contribution of the

shareholders. Further to this, the financial creditors have made it clear that

there are no other available alternatives than the negotiated restructuring

solution unless the overdue debt of approximately NOK 23 billion is settled. In

the same letter it is further emphasized that any action that would be contrary

to the interest of the DOF group and the stakeholders of DOF ASA (multitude of

the shareholders, creditors etc.) will expose the board of directors in DOF ASA

at any given time to personal liability.

For further information, please contact:

CEO Mons Aase, tel. +47 91 66 10 12

CFO Hilde Drønen, tel. +47 91 66 10 09

With a multi-national workforce of about 3,900 personnel, DOF ASA is an

international group of companies which owns and operates a fleet of modern

offshore/subsea vessels, and engineering capacity to service both the offshore

and subsea market. With 40 years in the offshore business, the group has a

strong position in terms of experience, innovation, product range, technology

and capacity.

DOF's core businesses are vessel ownership, vessel management, project

management, engineering, vessel operations, survey, remote intervention and

diving operations primarily for the oil and gas sector. From PSV charter to

Subsea engineering, DOF offers a full spectrum of top quality offshore services

to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway,

the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.

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