Date: 23 June 2015

GC Rieber Shipping - Option declaration for Polar King

Reference is made to stock exchange notice from GC Rieber Shipping ASA of 6 March concerning a 100 days firm contract with DOF Subsea Norway AS for the CSV «Polar King».

The Contract provides DOF Subsea with options for extension by up to 5 months. DOF Subsea has now declared a one month option of extension effective from second half of July. Remainder options for up to 4 months extension may be declared at a later stage.

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 and project development within the segments subsea, ice/support and marine seismic.

The group has a specialized competence in operations offshore in harsh environments as well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates 13 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which 11 are owned by the company.

GC Rieber Shipping has it's headquarter and a ship management company in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.

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