SALE OF VESSEL

Eidesvik Offshore has signed a MoA for the sale of the
Viking Poseidon to an unnamed buyer. The deposit has been
lodged and the delivery will take place medio March 2017. An
impairment charge of MNOK 130 was recorded in 4th quarter
2016.

The sale will have a positive liquidity effect of approx.
MNOK 180 after repayment of debt.

Contact: CEO Jan Fredrik Meling TEL (+47) 916 75 119