GC Rieber Shipping - M&A Activity 2015

GC Rieber Shipping enters into two-month charter for subsea vessel Polar Onyx

GC Rieber Shipping has entered into a charter agreement with Marine Platforms

Limited (MPL) for the OCV "Polar Onyx" for a fixed period of 60 days. The

charter will commence in January 2016 and contains options for up to 2 months

additional work. The vessel will conduct flex-laying activities for Chevron

offshore Nigeria.

For further information, please contact:

CEO Irene Waage Basili, tel: (+ 47) 55 60 68 67 / (+ 47) 900 98 688

CFO Einar Ytredal, tel: (+47) 55 60 68 54 / (+47) 975 20 184

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in

specialized vessels, high quality marine ship management and project development

within the segments subsea, ice/support and marine seismic. The group has a

specialized competence in offshore operations in harsh environments as well as

design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates 13 advanced special purpose vessels for

defined markets within the subsea, ice/support and marine seismic segments, of

which the company owns 11.

The company has it's headquarter and a ship management office in Bergen, and an

additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is

listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-

shipping.com.

This information is subject of the disclosure requirements acc. to §5-2 vphl,

cf. § 5-12 (Norwegian Securities Trading Act).

[HUG#1965640]

AI assistant