GC Rieber Shipping secures two-month job for Polar Empress

GC Rieber Shipping ASA, through its subsidiaries, has entered into a time
charter agreement for seismic acquisition and seismic QC services, with
Sovcomflot subsidiary OOO SCF Geo.

The job will utilize the 22 streamer ice classed vessel Polar Empress. The job
is estimated to take about two months and the mobilization for the operation in
the Kara Sea will commence promptly.

"We have had long lasting discussions with Sovcomflot related to this contract
and we are very pleased to be able to conclude in time for this season's work.
 Our vessel's unique capabilities are tailor made for operating in these types
of areas and we are glad to see that clients value our assets and our ability to
adapt our work scope to specific need", says CEO Irene Waage Basili.


For further information, please contact:

CEO Irene Waage Basili, tel.: +47 55 60 68 67, or +47 900 98 688
CFO Einar Ytredal, tel.: +47 55 60 68 54, or +47 975 20 184

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in
specialized vessels, high quality marine ship management and project development
within the segments subsea, ice/support and marine seismic. The group has a
specialized competence in offshore operations in harsh environments as well as
design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates 13 advanced special purpose vessels for
defined markets within the subsea, ice/support and marine seismic segments, of
which the company owns 11.

The company has its headquarter and a ship management office in Bergen, and an
additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is
listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-
shipping.com.

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