GC Rieber Shipping: Last day of the subscription period today

Stock Exchange Notice
Date: 2 March 2018


GC Rieber Shipping: Last day of the subscription period and period for trading
in subscription rights in the Rights Issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES, OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG
SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT
THE END OF THE PRESS RELEASE

Reference is made to the previous stock exchange announcements by GC Rieber
Shipping ASA ("GC Rieber Shipping" or the "Company") in respect of the rights
issue (the "Rights Issue") by the Company of 13,333,333 new shares with a
nominal value of NOK 1.80 each (the "Offer Shares") at a subscription price of
NOK 7.50 per Offer Share.

The subscription period for the Rights Issue and the period for trading in
subscription rights (RISH T) expire today, 2 March 2018, at 16:30 hours (CET).

Correctly completed subscription forms must be received by the subscription
office as set out in the prospectus dated 13 February 2018 (the "Prospectus"),
or, in case of online subscriptions through the VPS online subscription system,
be registered, within this deadline.

Subscription rights that are not used to subscribe for Offer Shares or sold
within this deadline will have no value and lapse without compensation to the
holder.

Please refer to the Prospectus for more information about the Rights Issue.

For further information:

CEO Christian W. Berg, phone: +47 974 05 553

CFO Einar Ytredal, phone: +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 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 the Oslo Stock Exchange
with ticker RISH.

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

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

***

IMPORTANT INFORMATION


This communication may not be published, distributed or transmitted in or into
the United States, Canada, Australia, the Hong Kong Special Administrative
Region of the People's Republic of China, South Africa or Japan. These materials
do not constitute or form a part of any offer or solicitation to purchase or
subscribe for securities of the company (the "Shares") in the United States,
Norway or any other jurisdiction. The securities mentioned herein, including the
subscription rights to subscribe for Shares (the "Subscription Rights"), have
not been, and will not be, registered under the United States Securities Act of
1933 (the "Securities Act"). Neither the Shares nor the Subscription Rights may
be offered or sold in the United States absent registration or an exemption from
registration under the Securities Act. Any sale in the United States of the
Shares or the Subscription Rights mentioned in this communication will be made
solely to "qualified institutional buyers" as defined in Rule 144A under the
Securities Act pursuant to transactions exempt from, or not subject to, the
registration requirements of the Securities Act.

Any offering of securities will be made by means of a prospectus to be published
that may be obtained from the Company once published, and that will contain
detailed information about the Company and its management, as well as financial
statements. These materials are an advertisement and not a prospectus for the
purposes of Directive 2003/71/EC, as amended (together with any applicable
implementing measures in any Member State, the "Prospectus Directive").

Investors should not subscribe for any Shares or acquire any subscription rights
referred to in these materials except on the basis of information contained in
the prospectus.

In any EEA Member State other than Norway (from the time the prospectus has been
approved by the Financial Supervisory Authority of Norway, in its capacity as
the competent authority in Norway, and published in accordance with the
Prospectus Directive as implemented in Norway) that has implemented the
Prospectus Directive, this communication is only addressed to and is only
directed at "qualified investors" in that Member State within the meaning of
Article 2(1)(e) of the Prospectus Directive ("Qualified Investors"), i.e., only
to investors to whom an offer of securities may be made without the requirement
for the Company to publish a prospectus pursuant to Article 3 of the Prospectus
Directive in such EEA Member State.

In the United Kingdom, these materials are only being distributed to and are
only directed at Qualified Investors who (i) are investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons
falling within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.

Any investment or investment activity to which this communication relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons.

Carnegie AS is acting for GC Rieber Shipping and no one else in connection with
the rights issue and will not be responsible to anyone other than GC Rieber
Shipping for providing the protections afforded to their respective clients or
for providing advice in relation to the rights issue and/or any other matter
referred to in this communication.

This communication and any materials distributed in connection with this
communication may contain certain forward-looking statements. By their nature,
forward-looking statements involve risk and uncertainty because they reflect GC
Rieber Shipping's current expectations and assumptions as to future events and
circumstances that may not prove accurate. A number of material factors could
cause actual results and developments to differ materially from those expressed
or implied by these forward-looking statements, including the risks and
uncertainties to be set out in the prospectus.