Date: 20 December 2006


Reference is made to the announcement made on 2nd November 2006 relating to Arrow Seismic ASA ("Arrow"), a 54 % owned subsidiary of GC Rieber Shipping ASA, purchase of the 1992 built cargo vessel "Sophie"."Sophie" was formally acquired on 8th Decem,ber and renamed 'Polar Explorer'.
Further, Arrow has now entered into a firm agreement to purchase the sister vessel "Karen B" built in 1993 at a similar price as for "Polar Explorer" with delivery in 1st Quarter 2007. Both vessels will as previously announced be converted source vessels of high standard in order to meet the requirement of safety and comfort from the oil exploration industry.
For further information, please contact CEO Sven Rong, phone + 47 55 60 68 00.