GC Rieber Shipping: Nexans extends the charter for Polar King

GC Rieber Shipping has agreed with Nexans Skagerrak AS, a wholly owned
subsidiary of Nexans Norway AS, to extend the charter of the CSV Polar King by
two months, making the charter firm until September 2020.

The extended period will be in direct continuation of the ongoing charter, which
started in January 2017. The vessel conducts cable lay support and trenching
worldwide.

For further information, please contact:

Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Christoffer Knudsen, CCO, GC Rieber Shipping, phone: +47 926 18 226

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 & renewables, ice/support and marine seismic.

The group has 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 and has direct and indirect
ownership in 29 advanced special purpose vessels for defined markets within the
subsea & renewables, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an
additional 50% 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 to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.