Solstad Offshore ASA — Capital/Financing Update 2014

Sep 11, 2014

Boa Marine Services Inc. (BMSI) enters into a three-year time charter agreement for the GC Rieber Shipping owned subsea vessel Polar Queen

Boa Marine Services Inc. (BMSI) enters into a three-year time charter agreement for the GC Rieber Shipping owned subsea vessel Polar Queen

Boa Marine Services Inc. (BMSI) has agreed the terms

for a new time charter for the GC Rieber owned CSV

vessel "Polar Queen" for a fixed period of 3 years.

The new time charter agreement will be a continuation

of BMSI's existing charter for the same vessel and

will commence April 2015. BMSI has chartered "Polar

Queen" since October 2012. BMSI is a US subsidiary of

Boa Offshore located in Houston. The charter

agreement holds options for up to three years

extensions for BMSI.

For further information, please contact:

Albert Strand, Director Finance and Risk

Telephone +47 73 99 11 99/+ 47 9074 4461