Magnora ASA - Earnings Release 2014

SEVAN MARINE ASA - First Quarter 2014 Results

Operating revenue for first quarter 2014 amounted to USD 24.6 million. EBITDA

was positive with USD 1.6 million, and net profit was positive with USD 2.3

million.

Equity at the end of first quarter 2014 amounted to USD 128.7 million and total

assets were USD 164.7 million.

Read more in the attached report.

Carl Lieungh (CEO) and Kjetil Vangsnes (CFO) will today at 1:00 p.m. (CET) give

a presentation of the results at Hotel Continental, Stortingsgaten 24/26, Oslo.

The presentation will be in English.

The presentation will also be broadcasted LIVE on www.sevanmarine.com.

It is recommended that you log on to the webcast 5 minutes in advance of the

presentation.

If you wish to attend the presentation in Oslo, please confirm by email:

If you wish to call-in to listen to the presentation, please find the call-in

details attached.

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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

Kjetil Vangsnes, CFO, Sevan Marine ASA (Analysts)

+47 37 40 40 00 office

[HUG#1787505]

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