GC Rieber Shipping - M&A Activity 2019

GC Rieber Shipping: Update on the vessel Ernest Shackleton

Stock Exchange Notice

Date: 25 March 2019

GC Rieber Shipping: Update on the vessel Ernest Shackleton

GC Rieber Shipping has negotiated agreements for early redelivery of the

icebreaking research vessel «Ernest Shackleton» from British Antarctic Survey

and sale of the vessel to an international buyer. The sale is conditional

certain regulatory approvals. If concluded, GC Rieber Shipping expects a

positive cash effect from the transactions of approximately NOK 140 million late

second quarter 2019.

For further information, please contact:

Einar Ytredal, CEO, phone: +47 975 20 184

Christoffer Knudsen, CCO, phone: +47 926 18 226

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 11 and has direct and indirect ownership

in 23 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, with an additional 50% owned 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.

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