Subsequent offering - subscription period ends today

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR

INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,

AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN

WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE

IMPORTANT NOTICE IN THE PROSPECTUS

Oslo, Norway, 21 January 201 - Dolphin Group ASA

(OSE:DOLP)

Reference is made to the announcement dated 13

December 2010 and the prospectus dated 5 January 2011

(the "Prospectus") concerning the subsequent offering

of up to 4,824,000 shares in Dolphin Group ASA at a

subscription price of NOK 2.50.

The subscription period for the subsequent offering

will end today, 21 January 2011, at 17.30 CET.

The Prospectus and the application form for the

subsequent offering is available at the Company's

website www.dolphinics.com and at the websites of the

managers, SEB Enskilda (www.sebenskilda.no) and First

Securities (www.first.no).

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act).

For further information, please contact:

Ketil Sundal, CFO

Phone: +47 23 16 70 02

Mob: +47 95 92 21 04

Dolphin Group ASA

Olaf Helsetsvei 6

0619 OSLO

Phone: +47 23 16 70 00

Fax: +47 23 16 71 80

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