Financial Report - Q1 2009

· Operating revenue was NOK 565 million compared to NOK 450 million for the same period last year.
· Cash flow from operations (EBITDA) was NOK 287 million compared to NOK 233 million
· Reached agreement for division of Rem Offshore ASA
· A dividend for 2008 of NOK 2 per share was passed by resolution at the ordinary general meeting

There will be held a presentation of the 1st quarter results 2009, on Tuesday 19. May, 2009 at 08.30.
The presentation will take place at Rederiforbundet, Rådhusgt. 25, 7th floor, Oslo. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)