Date: 14 May 2007

RISH - ARROW SEISMIC LAUNCHES INITIAL PUBLIC OFFERING


Arrow Seismic launches Initial Public Offering
 
- Arrow Seismic, a leading supplier of high-capacity vessels to the marine seismic industry to be listed at Oslo BÝrs or alternatively at Oslo Axess
- Initial Public Offering of up to 5 250 000 new shares, representing approximately 28 per cent of total number of shares outstanding
- Over-allotment facility for up to 787,500 additional shares
- Indicative offer price range of minimum NOK 65  and maximum NOK 73 per share
- Market capitalization after closing of the Offering of minimum NOK 1 544 million and maximum NOK 1 791 million
- Subscription/book-building period: 14 - 24 May 2007
- Expected first day of trading: 30 May 2007 
 
Bergen, Norway 14 May 2007 - Arrow Seismic (`Arrow`) launches an Initial Public Offering following its application for listing on the Oslo BÝrs/Oslo Axess, sent Oslo BÝrs of 24 April 2007. Oslo BÝrs has to day approved the Offering and Listing Prospectus for Arrow. The Company expects to raise up to NOK 441 million in the Offering, depending on the Offering price and the utilization of the over-allotment option. The Offering comprises of two tranches; a global offering to institutional investors, and a public offering to private investors in Norway.
 
See attachment for more information.

Arrow Seismic launches Initial Public Offering