Bergen Group increased the number of orders on its books and saw an improved
profit margin in the second quarter of 2010. The focus is now on increasing
international collaboration.
'We have established a robust platform that will produce positive results in a
forward-looking market,' says CEO Pål Engebretsen.

As expected, turnover in the quarter was down in relation to the corresponding
period last year, ending at NOK 790 million. The profit before tax and
depreciation (EBITDA) amounted to NOK 71 million, which means a profit margin of
9% in the second quarter.

Expectations of further growth
'The group's overall profit margin is deemed to be satisfactory. The same
applies to the increase in orders on the group's books, which now amount to NOK
4.7 billion. However, we are impatient and want to see full utilisation of our
total production capacity, and we expect the number of new orders to increase in
the next few quarters,' CEO Pål Engebretsen points out.

He expects turnover in the last six months of 2010 to largely be on a par with
the group's performance in the first six months of the year. The group's
turnover for the first six months amounted to NOK 1,761 million, and it reported
a profit before tax and depreciation of NOK 152 million and an EBITDA margin of
8.6%.

'We signalled at an early stage that activity in 2010 would be somewhat lower
than in the record year 2009. At the same time, however, the second quarter has
given us a basis that maintains our expectations of further in a long term
perspective,' says Mr Engebretsen.

Focus on profitability
Bergen Group has made active efforts to develop an operating organisation and a
cost structure that focus on satisfactory profitability despite marked-related
fluctuations in turnover.

'This work will continue to be a major priority throughout the organisation. In
the last six months, we have reduced the number of permanent employees from
2,000 to 1,800 by means of, among other things, various rationalisation
measures. Project management and key expertise have been strengthened at the
same time. This has given us greater flexibility and increased capacity in a
market that we deem to be developing in a positive and exciting direction in all
of the group's four business areas,' says Mr Engebretsen.

The CEO believes that activity in the Offshore Division in particular will
improve in the years ahead.

'We have seen this coming for a long time, and are well prepared for an increase
in activity in this area. Bergen Group has sound expertise and
strategically-located production capacity that closely matches the expected
development,' Mr Engebretsen points out.

Internationalisation
The process of strengthening the group's market position through collaboration
with international players took a big step forward in the second quarter. New
long-term financing has been secured through the issue of a new three-year bond
loan. The convertible bond loan of NOK 120 million from Spring Capital Resources
Inc also strengthens the group's working capital.

'We are now entering an exciting mapping phase linked to possible future
cooperation with Spring Capital Resources and the opportunities offered by the
company's holdings in the international offshore and maritime industrial
environment in Asia. Bergen Group has developed international expertise in a
number of areas that is attractive to both customers and potential partners.
Combined with the company's strategic geographical location and unique
facilities in Norway, this makes for exciting opportunities in the time ahead,'
says CEO Pål Engebretsen.

Interim report for the second quarter and first half-year 2010 enclosed

Contact persons:

CEO Bergen Group, Pål Engebretsen, tel. (+47) 911 17 369
CFO Bergen Group, Terje Iversen (finance), tel. (+47) 932 40 359
VP Communication Bergen Group, Øyvind Risnes (media), tel. (+47) 480 48 561

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

[HUG#1440318]

Bergen Group with increase in orders and improved profit margin