SEVAN MARINE ASA: Minutes Ordinary General Meeting

Sevan Marine ASA has today on May 25, 2012, held its Ordinary General Meeting.
All the proposals from the Board of Directors to the General Meeting were
approved.

The Board of Directors
The shareholder elected members to the Board of Directors are:
Siri Hatlen (Chairperson, re-elected)
Mari Thjømøe (Director, re-elected)
Lars Ola Tan Almås (Director, re -elected)
Peter Lytzen (Director, re- elected)

In addition two Directors are elected by and among the employees of the Sevan
Marine Group:
Kari Berte Daasvatn Bye - (Board Member - elected by the employees)
Alf Reidar Sandstad - (Board Member - elected by the employees)
Sidsel Skagen - (Deputy Director for Kari Berte Daasvatn Bye)
Einar Bernt Glomnes - (Deputy Director for Alf Reidar Sandstad)

Authorisations

The Board of Directors is authorized to increase the share capital up to NOK
969,024 distributed on 242,256 new shares in connection with the company's stock
option programme.

Minutes
Attached as appendix to this announcement are the minutes of Ordinary General
Meeting in Norwegian and translation into English. The minutes have also been
posted on the Company's web-site; www.sevanmarine.com.

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Dated: May 25, 2012

Sevan Marine ASA

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 specializing in design, engineering and project execution of
floating units for offshore applications, with a main focus on Floating
Production, Storage and Offloading units (FPSOs). Sevan Marine ASA is listed on
Oslo Børs with ticker SEVAN. For more information, please refer to
www.sevanmarine.com.

For more information please contact:
Marit Ytreeide, Press Contact (Media)
+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)
+47 37 40 40 00 office

Kjetil Vangsnes, CFO, Sevan Marine ASA (Analysts)
+47 37 40 40 00 office


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