Solstad Offshore ASA - Capital/Financing Update 2014

DELIVERY AND LONG TERM FINANCING

Solstad Offshore ASA (SOFF) took 1st July 2014

delivery of "Normand Vision" (CSV) from Vard Group

AS, Søviknes. The vessel started directly on a 8 year

firm chart with Ocean Installer AS with additional 2

yearly options.

"Normand Vision" is a large, sophisticated subsea

vessel with a length of 157 meters. She has a 400 ton

subsea crane, a 3000 ton under-deck carousel and a

150 ton VLS (Vertical Lay System). The overall cost

for the vessel is approx. USD 250 mill, including the

VLS.

A long-term facility of USD 187,5 million has been

drawn from Eksportkreditt Norge AS, guaranteed by

SpareBank 1 SR-Bank ASA and GIEK.

Solstad Offshore ASA is among the largest offshore-

shipping companies in Norway, providing advanced

vessels and extensive maritime competence for

operations related to the offshore petroleum

industry. The company has about 1,800 employees, and

operates 47 vessels all over the world. In addition

the company has 1 large subsea vessel under

construction.

Solstad Offshore is headquartered in Skudeneshavn,

Norway and has branch offices in Brazil, Singapore,

the Philippines, the United Kingdom and Australia.

Contacts: Lars Peder Solstad and Sven Stakkestad

(phone +47 52 85 65 00).

Skudeneshavn, 2. July 2014

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)

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