FINANCIAL REPORT FOR THE 1st QUARTER 2012

· Operating income for the 1st quarter was NOK
788 mill, an increase of 18% compared to 1st quarter
2011
· Cash flow from operations (EBITDA) was NOK
288 million (NOK 248 million)
· A dividend of NOK 1.50 per share for 2011 was
passed by resolution at the Annual General Meeting.
· Entered into several long-term contracts on
better terms and conditions

There will be held a presentation of the 1st quarter
results 2012, on Thursday 10. May, 2012 at 09:00. The
presentation will take place at Rederiforbundet,
Rådhusgt. 25, 7th floor, Oslo.

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

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

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