American Shipping Company ASA : Purchase of treasury shares

20 January 2016 - Reference is made to American Shipping Company ASA's ("ASMC"
or the "Company") stock exchange notice dated 18 January 2016 where AMSC
announced its intent to purchase 30,000 treasury shares in connection with its
incentive scheme for employees. AMSC has today purchased 10,000 shares in the
Company on Oslo Børs at an average price of NOK 22.8825 per share, which implies
a total consideration of NOK 228,825. The purchase of treasury shares was
carried out in accordance with an authorization granted by the Annual General
Meeting of the Company held on April 22, 2015.

Following the purchase, AMSC holds a total of 20,000 treasury shares,
constituting approximately 0.03% of the Company's shares and votes. The shares
will be sold to the Company's CEO, Pål Magnussen.
***

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


[HUG#1980248]