Contract with STXOSV effective

Further to stock exchange notice on 14 June 2012
entiteled " Solstad Offshore and Ocean Installer
order high-capacity subsea vessel and sign long-term
charter agreement", Solstad Offshore (SOFF) is
pleased to announce that the shipbuilding contract
with STXOSV has been confirmed.
The contract was subject to board approval by the
Norwegian Institute for Export Credits (GIEK). All
subjects have been lifted and the contract has become
effective.

Skudeneshavn, 26th June 2012

Contact person: Lars Peder Solstad (Tlf. +47 52 85 65
00)

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