Dolphin has signed final time charter agreements with GC Rieber Shipping and Armada Seismic

OSLO, Norway, 15 December, 2010 - Dolphin
Interconnect Solutions ASA (OSE: DOLP)

Reference is made to the stock exchange notice on 13
December where Dolphin Interconnect Solutions ASA
("Dolphin") announced a successful completion of an
equity issue through to Norwegian and foreign
institutional investors in a private placement
(the "Private Placement") of new shares. The
completion of the Private Placement was conditional
up on approval of the Private Placement at an
extraordinary general meeting to be held on 20
December, and that Dolphin enters into final and
binding charter party agreements with GC Rieber
Shipping and Armada Seismic regarding the lease of
the seismic vessels Polar Explorer, Polar Duke and
NB533. Dolphin has now signed final and binding
agreements with the companies (GC Rieber Shipping and
Armada Seismic) and the completion of the Private
Placement is only conditional upon the shareholders'
approval at the extraordinary general meeting.

There are no changes in the commercial terms and
conditions compared to the letter of intent that was
signed on 27 November.

For further information, please contact:

Atle Jacobsen
Chairman, Dolphin Interconnect Solutions ASA
Tel. + 47 977 15 336

Erik Hokholt
Board member, Dolphin Interconnect Solutions ASA
Tel. +47 907 56 064

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

This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act)