Solstad Offshore ASA - Major Shareholding Notification 2016

REM: Disclosure of Aker Capital AS' shareholding as a result of issuance of shares to bondholders and subsequent SOFF Merger.

Reference is made to Rem Offshore ASA's ("REM") and

Solstad Offshore ASA's ("SOFF") joint release dated 28

July 2016 regarding a merger of REM with a subsidiary

of SOFF (the "SOFF Merger"), to REM's release dated 6

September 2016 regarding the approval by bondholders

in the REM04 and REM05 bonds issued by REM of a

restructuring of said bonds, which includes an

exchange of bonds for shares in REM (the "REM Bond

Restructuring"), and to REM's release today regarding

registration of new share capital.

Aker Capital AS ("Aker"), a wholly-owned subsidiary of

Aker ASA, has today received 25,964,799 new shares as

part of the REM Bond restructuring, as envisaged by

Aker's release 10 October 2016. The new shares issued

to Aker constitute approximately 7.5% of REM's new

registered share capital of 344,163,870 shares. Aker

holds no other shares or rights to shares in REM.

Upon the SOFF Merger becoming effective, Aker's shares

in REM will be exchanged for 1,807,150 SOFF class B

shares as noted in the joint REM and SOFF release

dated 28 July 2016, referred to above. The SOFF Merger

is expected to become effective immediately. Upon the

SOFF Merger becoming effective, Aker will not own any

shares or rights to shares in REM.

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