Date: 24 May 2007

RISH - SHARES IN ARROW SEISMIC TO BE LISTED ON OSLO AXESS


The Board of Oslo BÝrs has at its meeting on 24 May 2007 resolved to admit shares in Arrow Seismic ASA (`Arrow`) to listing on Oslo Axess.
 
Prior to the first day of listing, the company must raise at least NOK 300 million of new equity through its planned share issue.
 
The Board authorised the President of Oslo BÝrs to fix the date of the first day of listing, which is to be no later than 6 July 2007. Arrow expects the first day of listing to be on or about 30 May 2007.
 
Arrow is currently a 54 % owned subsidiary of GC Rieber Shipping ASA. Arrow develops, owns and operates advanced purpose-built vessels for the marine seismic industry. Arrow owns five vessels and has contracted four special-purpose high capacity seismic vessels for delivery in 2008/09. The company`s registered business office is in Bergen, Norway.
 
For further information, please contact CEO Sven Rong, phone + 47 55 60 68 00.