GC Rieber Shipping - Shearwater GeoServices, awarded extension to current contract

GC Rieber Shipping ASA's 50% owned geoservices company Shearwater GeoServices
("Shearwater") has been awarded an extension to an ongoing contract in the APAC
Region. The Polar Marquis will undertake an additional 835 Square Kilometers of
3D broadband acquisition and associated depth processing for an NOC.

For further information, please contact:

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 operates and has direct and indirect ownership in
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.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.