GC Rieber Shipping - M&A Activity 2017

GC Rieber Shipping - Shearwater GeoServices received TGS Irish Atlantic Margin award

GC Rieber Shipping ASA's 50% owned geoservices company Shearwater GeoServices

("Shearwater") has received an award from TGS for the announced Crean 3D (CRN

3D) project, strengthening Shearwater's backlog in the EAME Region for the 2017

season approximately 4 additional vessel months. The survey will be acquired

utilising one of Shearwater's high end 3D vessels.

For further information, please contact:

Einar Ytredal, CEO (act.), GC Rieber Shipping, phone: +47 975 20 184

Øystein Kvåle, CFO (act.), GC Rieber Shipping, phone: +47 479 02 919

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 and has direct and indirect ownership in

11 advanced special purpose vessels for defined markets within the subsea,

ice/support and marine seismic segments.

The company has its 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 to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

AI assistant