Date: 24 October 2006


The conversion of the "Geo Atlantic" which is owned by Arrow Seismic ASA, a 54 % owned subsidiary of GC Rieber Shipping ASA, into a multi streamer state-of-the-art seismic vessel, has now been completed.

"Geo Atlantic" left the yard in Gothenburg on 22nd October 2006 and started on the previously announced charter agreement with Fugro Geoteam AS for a fixed period of 7 years with 2 x 2 years options for further use. The vessel will earn the charter rate from medio October 2006.

For further information, please contact CEO Sven Rong, phone + 47 55 60 68 00.