CHARTER AGREEMENTS FOR OFFSHORE CONSTRUCTION VESSELS

Solstad Offshore ASA (SOFF) has signed charter
agreements for the following vessels:
- «Normand Tonjer» with Fugro Subsea Services Ltd
for 200 days firm. Commencement of contract scheduled
to March 2012.
- «Normand Mermaid» with Fugro Geosciences
International Ltd for 180 days firm period.
Commenement of contract March 2012.
- «NOR Tigerfish» with Allied Support Corp. for 120
days firm period with option for an additional 67
days. Commencement of contract scheduled to March
2012.
- «Normand Flower» with Visser & Smit Marine
Contracting BV, for 185 days firm with additional 100
days options. Commencment of contract scheduled to
March 2012.

In addition, Global Industries Offshore L.L.C
(Technip) have exersised their second (of a total of
five) yearly options for the Normand Commander.
Commencement June 2012.

The value of the firm part of the contracts nominated
in NOK is approximately NOK 225 mill.

Contacts: Lars Peder Solstad and Sven Stakkestad
(phone +47 52 85 65 00).

Skudeneshavn, 27. February 2012

This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act)