Nekkar — M&A Activity 2014

Dec 4, 2014

TTS Group ASA: New Joint Venture Company with China State Shipbuilding Corporation

TTS Group ASA: New Joint Venture Company with China State Shipbuilding Corporation

TTS Group enhances its position in China. New Joint Venture Company established

for development, designs, assembly, production and services for Heavy Lift

marine and offshore cranes.

TTS Group ASA, through its subsidiary TTS NFM GmbH in Hamburg, Germany has

entered into an agreement with South China Marine Machinery, controlled by China

State Shipbuilding Corporation (CSSC), to establish a new joint venture company.

-The new joint venture company will strengthen the economic cooperation and

exchange of technical knowledge between the two organizations. With the aim of

the Chinese government to focus on localization in the Shipbuilding Supply

Industry, CSSC and TTS strategic partnership has reached another milestone.

I firmly believe that this new JV will improve and gain a competitive position

in the market. And it will ensure satisfactory economic benefits for each Party,

says Björn Andersson, CEO of TTS group ASA.

China State Shipbuilding Corporation (CSSC) is a state-authorized investment

institution directly administered by the central government of China. CSSC is

one of the two largest shipbuilding conglomerates in China. CSSC' main business

is shipbuilding, covering both naval and civil products.

This is the third joint venture company that TTS Group has established in China

since 1998. In 1998 TTS Group established the first joint venture company, TTS

Hua Hai, with CSSC. In 2005 TTS Group established the second joint venture

company, TTS Bo Hai, with Dalian Shipbuilding Industry Corporation, controlled

by China Shipbuilding Industry Corporation (CSIC), the other of the two largest

shipbuilding conglomerates in China.

Bergen, 4th December 2014

TTS Group ASA

Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01

http://www.ttsgroup.com

Contact persons:

Björn Andersson

CEO

M: +47 911 33 671

Henrik Solberg-Johansen

CFO

M: +47 982 06 438

Miao Reinlund

VP, Communications

M: +47 900 65 883

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1877181]