Date: 10 November 2015

GC Rieber Shipping takes ownership of the VLS tower on Polar Onyx

Reference is made to stock exchange notice from GC Rieber Shipping ASA September 17th 2015, regarding Ceona Chartering (UK) Ltd (in administration) and Ceona Services (UK) Ltd (in administration) being put under administration and GC Rieber Shipping seeking coverage for its claims.

As part of a full and final settlement with the Administrators, GC Rieber Shipping will take ownership of the VLS tower and associated parts installed on the OCV vessel "Polar Onyx".

In addition, GC Rieber Shipping will be paid approximately USD 16.3 million from the established cash deposit.

For further information, please contact:

CEO Irene Waage Basili, tel: (+ 47) 55 60 68 67 / (+ 47) 900 98 688

CFO Einar Ytredal, tel: (+47) 55 60 68 54 / (+47) 975 20 184


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 offshore operations 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 the company owns 11.

The company has it's headquarter and a ship management office in Bergen, and an additional 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

This information is subject of the disclosure requirements acc. to §5-2 vphl, cf. § 5-12 (Norwegian Securities Trading Act).