Date: 9 November 2012


"POLAR QUEEN": GC Rieber Shipping has entered into a charter party with Boa Marine Services Inc. for the CSV "Polar Queen" for a firm period until April 2013. The agreement also includes options for 2 years extension after expiry of the firm charter period. Boa Marine Services Inc. is a US subsidiary of the Norwegian owned Boa Group.

"POLAR PRINCE": The time-charter with Reef Subsea for the subsea vessel "Polar Prince" has been extended to December 2014. The vessel will be utilised by Reef Subsea Power & Umbilical in their Offshore Oil and Gas and Renewable projects.

For further information, please contact:
CEO Irene Waage Basili, phone +47 55 60 68 67, or +47 90 09 86 88
CFO Einar Ytredal, phone +47 55 60 68 54, or +47 97 52 01 84

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management, project development and industrial portfolio management within the segments subsea, ice/support and marine seismic. The group has a unique competence in offshore operations in harsh environments as well as design, development and maritime operation of seismic vessels.

GC Rieber Shipping currently operates 18 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which 12 are owned by the company.

The company is headquartered in Bergen with ship management companies in Sevenoaks (UK) and Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH. Further information is available on the company's website

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)