Reference is made to the stock exchange announcements dated 9 November 2012 and 20 December 2012.

Boa Marine Services Inc. has today exercised its second option to extend the charter party for the subsea vessel "Polar Queen" with one year, until April 2015.

The vessel has been on charter with Boa Marine Services since October 2012.

For further information, please contact:
CEO Irene Waage Basili, tel.: +47 55 60 68 67, or +47 90 09 86 88
CFO Einar Ytredal, tel.: +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 and project development 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 15 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which 10 are owned by the company. In addition, the company has one subsea vessel under construction for delivery spring 2014, and one seismic vessel for delivery spring 2015.
The company is headquartered in Bergen and has a ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH. Further information is available on the company's website www.gcrieber-shipping.no.

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