SALE OF "NORMAND CLOUGH"

Solstad Offshore ASA (SOFF) acquired the CSV "Normand
Clough" in connection with the division of Rem
Offshore ASA in 2009. The vessel has from delivery
been engaged on a long term contract with
SapuraClough Offshore Pty Ltd. (SapuraClough). In the
charterparty SapuraClough had the option to purchase
the vessel after 5 years. This purchase option is now
declared.

The terms of the transaction are confidential between
the parties. The booked value of the vessel is
equivalent to the option price. The transaction thus
results in a limited net accounting effect for SOFF
but will have a positive cash effect of approx. NOK
200 mill.

It is intended to complete the transaction during 4th
quarter 2013.

Skudeneshavn, 15. August 2013

Solstad Offshore ASA

Contacts:
Lars Peder Solstad og Sven Stakkestad (Phone +47 52
85 65 00)