Mandatory Notifcation of Trade

Reference is made to the Saga Tankers ASA press
release of 22 November 2010 and the ongoing private
placement in Saga Tankers ASA.

As informed in the above mentioned press release,
Arne Blystad, chairman in Saga Tankers ASA,
subscribed for 1,981,500 shares in Saga Tankers ASA
at NOK 7.10 per share in the private placement. The
new shares were initially subscribed for by Blystad
Shipholding Inc., but the subscription has been
transferred to Spencer Trading Inc , which is also
controlled by Arne Blystad.

Following the issue of the new shares, companies
controlled by Arne Blystad will hold 22,273,059
shares in Saga Tankers ASA, representing 25.76% of
the total share capital in Saga Tankers ASA.

Oslo, 14 December 2010"