American Shipping Company ASA : Purchase of treasury shares

15 January 2015 - Reference is made to American Shipping Company ASA's ("ASMC"
or the "Company") stock exchange notice dated 13 January 2015 where AMSC
announced its intent to purchase 20,000 treasury shares in connection with its
incentive scheme for employees. AMSC has today purchased 20,000 shares in the
Company on Oslo Børs at an average price of NOK 34.0963 per share, which implies
a total consideration of NOK 681,926. The purchase of treasury shares was
carried out in accordance with an authorization granted by the Annual General
Meeting of the Company held on 23 April 2014.

Following the transaction AMSC holds a total of 20,000 treasury shares,
constituting approximately 0.03% of the Company's shares and votes.

***



This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1887432]