OCEANTEAM'S APPEAL IN CASE AGAINST SAWICON AND NSS SUCCESSFUL

In Oceanteam Shipping ASA's legal dispute with Sawicon AS and its third party
intervener North Sea Shipping AS concerning rights to and use of the North Ocean
100-series design, Gulating Court of Appeal has upheld Oceanteam's appeal.

Gulating Court of Appeal has invalidated Bergen City Court's previous verdict in
favour of Sawicon AS. With this ruling Gulating Court of Appeal releases
Oceanteam from the obligation to pay the legal costs incurred by Sawicon AS and
North Sea Shipping AS in conjunction with the Bergen City Court case.


As a consequence of the ruling there no longer exists an applicable court
decision regarding the rights to the North Ocean 100-series design and the case
will have to be restarted in Bergen District Court.

Oceanteam Shipping ASA is pleased that Gulating Court of Appeal has recognized
Oceanteam's objections to the application of the procedural rules by Bergen City
Court.



About Oceanteam Shipping ASA
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping
company. Its business is the owning, chartering and managing of Deepwater
Offshore Construction Service - and Pipe Lay Vessels In addition Oceanteam
Shipping provides complementary Engineering Services consisting of both
Engineering & Design Services and Equipment to support its clients.

For more information: www.oceanteam.no


For further information about Oceanteam Shipping ASA please contact:

CEO Haico Halbesma:   +31 20 53 57 570, haico@oceanteam.no

CFO Torbjørn Skulstad: +47 55 10 82 40, torbjorn@oceanteam.no



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


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