GC RIEBER SHIPPING: CHRISTIAN WILHELM BERG RESIGNS THE POSITION AS CEO OF GC RIEBER SHIPPING ASA

CHRISTIAN WILHELM BERG RESIGNS THE POSITION AS CEO OF GC RIEBER SHIPPING ASA

Christian Wilhelm Berg resigns the position as CEO of GC Rieber Shipping with
effect from 14 September 2018 in order to pursue other opportunities through his
wholly owned company, Bech Offshore.

Bech Offshore was set up in 2017 with the concept to initiate investment
opportunities related to distressed assets within the Offshore Support Segment.
Further, the company offered third party owners Commercial Management,
Consultancy Services and in-depth market know-how. The activities of Bech
Offshore was acquired by and integrated into GC Rieber Shipping when Christian
Wilhelm Berg commenced as CEO, but will now be sold back to Bech Offshore.

The Board of GC Rieber Shipping will initiate a process to recruit a new
permanent CEO. Meanwhile, CFO Einar Ytredal will serve the role as acting CEO.

The Board of GC Rieber Shipping would like to thank Christian Wilhelm Berg for
his contributions as CEO of GC Rieber Shipping during a difficult time in the
industry.

For further information:

Paul Chr. Rieber, Chairman, GC Rieber Shipping:              +47 950 21 994

Morten F. Krohnstad, Vice Chairman, GC Rieber Shipping:  +47 934 64 540

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