GC Rieber Shipping enters into charter with MPL for SURF vessel Polar Onyx

GC Rieber Shipping ASA has entered into a time charter agreement in West Africa
with Marine Platforms Limited (MPL) for the SURF vessel Polar Onyx. The vessel
will perform subsea construction/SURF installation and field development for end
client Chevron.

The charter commences promptly for a firm period of about 1 month, and contains
options to extend with up to 5 weeks of additional work.

For further information:

Einar Ytredal, CEO (act.), GC Rieber Shipping, phone: +47 975 20 184

Øystein Kvåle, CFO (act.), GC Rieber Shipping, phone: +47 479 02 919


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 owns and operates 11 advanced special purpose
vessels for defined markets within the subsea, ice/support and marine seismic
segments.

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)