SUBSCRIPTION AND ALLOCATION OF SHARES TO PRIMARY INSIDERS

Reference is made to the stock exchange notice
earlier today regarding the completion of the private
placement of shares (the "Private Placement") in
Dolphin Interconnect Solutions ASA ("Dolphin").
Completion of the Private Placement is subject to;
(i) the approval of the Private Placement by the EGM
to be held on 20 December 2010; and (ii) final and
binding agreements with Armada Shipping ASA regarding
the lease contracts for the seismic vessels. The
subscription price in the Private Placement is NOK
2.50 per share.

The following primary insiders have been allocated
shares in the Private Placement:

Primary insider Atle Jacobsen, chairman of the board
of directors, subscribed for and was allocated
1,000,000 new shares in the Private Placement through
his wholly owned company Three M AS. After completion
of the Private Placement, Atle Jacobsen will
indirectly through Three M AS hold 2,817,034 shares
in Dolphin. In addition a company controlled by close
family members of Atle Jacobsen owns 25,000 shares in
Dolphin.

Primary insider Ole Henrik Eide, deputy chairman of
the board of directors, subscribed for and was
allocated 150,000 new shares in the Private Placement
through his wholly owned company Pelito AS. After
completion of the Private Placement, Ole Henrik Eide
will directly and indirectly through Pelito AS hold
302,452 shares and 150,000 options in Dolphin.

Primary insider Erik Hokholt, member of the board of
directors, subscribed for and was allocated 2,400,000
new shares in the Private Placement through his
wholly owned company Økonomi og Regnskapsbistand AS.
After completion of the Private Placement, Erik
Hokholt will indirectly through Økonomi og
Regnskapsbistand AS hold 2,900,000 shares in Dolphin.

Consema AS where Dolphin's member of the board of
directors and primary insider Hege Eikeland, is
managing director, subscribed for and was allocated
200,000 new shares in the Private Placement. After
completion of the Private Placement, Consema AS will
hold 950,000 shares in Dolphin.

Primary insider Simen Thoresen, employee
representative in the board of directors, subscribed
for and was allocated 4,000 shares in the Private
Placement. After completion of the Private Placement,
Simen Thoresen will hold 20,000 shares and 25,000
options in Dolphin

Primary insider Hugo Kohmann, COO, subscribed for and
was allocated 40,000 shares in the Private Placement.
After completion of the Private Placement, Hugo
Kohmann will hold 82,800 shares and 150,000 options
in Dolphin.

Primary insider Roy Nordstrøm, senior software
architect, subscribed for and was allocated 80,000
shares in the Private Placement. After completion of
the Private Placement, Roy Nordstrøm will hold
119,411 shares and 150,000 options in Dolphin.

Primary insider Ketil Sundal, CFO, subscribed for and
was allocated 5,978 shares in the Private Placement.
After completion of the Private Placement, Ketil
Sundal will hold 20,000 shares and 150,000 options in
Dolphin.


For further information, please contact:

Ketil Sundal,
CFO, Dolphin Interconnect Solutions ASA
Tel. + 47 959 22 104

Dolphin Interconnect Solutions ASA
Olaf Helsetsvei 6
0619 OSLO

www.dolphinics.com