CHARTER AGREEMENTS

Solstad Offshore ASA (SOFF) has been awarded contracts for their PSV's "Normand Vibran" and "Normand Trym" with Petrobras in Brazil. The contracts has a duration of 3 years each and will commence during 1st quarter 2010. The gross value of the contracts, based on current exchange rates, are approx NOK 270 mill. Including these contracts, Solstad Offshore ASA has 7 of their vessels working in Brazil.