Magnora ASA

Board/Management Information • Apr 15, 2015

SEVAN MARINE ASA: Appointment of Financial Advisor

SEVAN MARINE ASA: Appointment of Financial Advisor

Sevan Marine today announces the appointment of

Pareto Securities to assist the Company in the

strategic review process announced in its Q4 2014

report.

Pareto Securities has been asked by the board of

Sevan Marine to look into a broad range of strategic

alternatives in order to exploit the full potential

of the Company. Sevan Marine would like to emphasize

that there is no assurance that the appointment will

result in any transaction.

Carl Lieungh, CEO of Sevan Marine noted: "Sevan is

well positioned in the current market with a

technology that can deliver substantial cost savings

versus alternatives. We are pleased to have Pareto

on board and look forward to working with them to

identify the strategic options available to take

Sevan to the next level and to deliver enhanced

value to Sevan's shareholders."

* * * * * * * * * *

The information in this announcement is subject to

the disclosure requirements of the Norwegian

Securities Trading Act section 5-12 and/or the Oslo

Børs - Continuing Obligations.

Sevan Marine ASA is specializing in design,

engineering and project execution of floating units

for offshore applications, based on its patented

cylindrical floater technology. Sevan Marine ASA is

listed on Oslo Børs with ticker SEVAN. For more

information, please refer to www.sevanmarine.com.

For more information please contact:

Marit Ytreeide, Press Contact (Media)

+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)

+47 37 40 40 00 office

Reese McNeel, CFO, Sevan Marine ASA (Analysts)

+47 37 40 40 00 office

Christian Jomaas, Head of Corporate Finance, Pareto

Securities AS

+ 47 22 87 88 13 office