GC Rieber Shipping - M&A Activity 2015

GC RIEBER SHIPPING - SALE OF VESSEL

GC Rieber Shipping has entered into an agreement to sell the CSV «Polar Prince»,

built at Flekkefjord Verft in 1999.

The transaction will provide GC Rieber Shipping with an accounting gain of

approximately NOK 10 million and the vessel is expected to be delivered to the

new owner early June.

For further information, please contact:

CEO Irene Waage Basili, phone + 47 55 60 68 67 or + 47 90 09 86 88

CFO Einar Ytredal, phone +47 55 60 68 54, or +47 97 52 01 84

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 operations offshore 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 11 are owned by the company.

GC Rieber Shipping has it's headquarter and a ship management company in Bergen,

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

company is listed on Oslo Børs with ticker RISH.

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

(Norwegian Securities Trading Act)

[HUG#1924552]

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