DOF ASA — M&A Activity 2014

Oct 1, 2014

DOF Installer ASA, a subsidiary of DOF ASA has sold one of its sister vessels.

DOF Installer ASA, a subsidiary of DOF ASA has sold one of its sister vessels.

DOF Installer ASA, an entity in the DOF Subsea Group, has entered into

an agreement for sale of one of its three sister vessels to an

international buyer.

Delivery to the new owners is expected late 2014.

The sale will release approx. NOK 650 mill. after redemption of debt.

For further information, please contact:

Mons S. Aase, CEO, Tel: +47 91 66 10 12

Hilde Drønen, CFO, Tel: 91 66 10 09

With a multi-national workforce in excess of 4,900 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 over 30 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, Argentine, Egypt, Angola,

and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.