FINANCIAL REPORT FROM 1ST QUARTER 2010

• Operating income was NOK 556 million compared with NOK 565 million for the same period last year
• Cash flow from operations (EBITDA1) was NOK 202 million compared to NOK 287 million last year
• 10 vessels being in drydock for periodic maintenance and upgrade for new contracts
• Dividend of NOK 2.50 per share for 2009 was passed by resolution at the Annual General Meeting

Further details can be found in the attached report, which can be downloaded here.