SEVAN - Minutes Extraordinary General Meeting

Sevan Marine ASA has today, on January 7, 2010, held an Extraordinary
General Meeting.

All proposals from the Board of Directors to the General Meeting were
approved.

AMENDMENTS TO THE ARTICLES OF ASSOCIATION
The Extraordinary General Meeting resolved to amend section 6 of the
Articles of Association authorising the Board of Directors to decide
that documents that are to be considered at a General Meeting may be
published on the Company's website instead of being enclosed to the
notice of the meeting. Individual shareholders are nonetheless entitled
to have the documents sent to them free of charge, upon request to the
Company. This procedure will result in environmental benefits and
reduction of cost for Sevan Marine ASA. Further, the amendment
authorises the Board of Directors to hold General Meetings of the
Company in Oslo as well as in Arendal.

MINUTES
Attached to this announcement are the minutes of the Extraordinary
General Meeting in Norwegian and translation into English.

Appendices:
1. Minutes of Extraordinary General Meeting in Norwegian
2. Minutes of Extraordinary General Meeting in English translation

The minutes and the new Articles of Association are also available at
the web site of Sevan Marine ASA (www.sevanmarine.com) and may also be
obtained by contacting the Company's Investor Relations Coordinator;
Christine Gran (tel: +47 37 40 40 00, e-mail: cgr@sevanmarine.com).

The information in this announcement is subject to the disclosure
requirements of the Norwegian Securities Trading Act section 5-12 and/or
the Oslo Børs - Continuing Obligations.

Sevan Marine ASA is listed on Oslo Børs (ticker SEVAN) and is
specializing in building, owning and operating floating units for
offshore applications. The Company has developed a cylinder shaped
floater, suitable in all offshore environments. Presently, Sevan Marine
has four FPSO contracts, including the Goliat Sevan 1000 FPSO, and three
drilling contracts with clients. The Company is also developing other
application types for its cylindrical Sevan hull, including floating LNG
production and power plants with CO2 capture. For more information,
please refer to http://www.sevanmarine.com/.

For information, please contact:

Jan Erik Tveteraas, CEO, Sevan Marine ASA (Media)
+47 37404000 office
+47 95214925 mobile

Birte Norheim, VP Finance, Sevan Marine ASA (Analysts)
+47 37404201 office
+47 95293321 mobile