Initiation of share buy-back programme

The board of directors of Solstad Offshore ASA
(the "Company") has decided to carry out a share buy-
back program of up to 385,000 treasury shares in
accordance with the authorisation given by the
Company's General Meeting in May 2013
(the "Programme"), corresponding to 1% of the issued
shares in the Company.

The Programme, with the purpose to enhance overall
shareholder value, will be effective from and
including 2 September 2013 and will at the latest
expire on the day of the annual general meeting of
the Company in 2014. Shares purchased through the
Programme may be used for prospective reductions of
the share capital, as part of an employee equity
incentive plan and/or potential strategic initiatives.

The consideration paid for shares purchased under the
Programme shall not exceed the higher of the price of
the last independent trade and the highest current
independent bid on the trading venues where the
purchase is carried out, although never higher than
NOK 250 per share (in accordance with proxy given by
the Company's General Meeting).

The Company may exceed the 25% limit pertaining to
the maximum number of shares which may be purchased
in any one day. The maximum number of shares which
may be purchased in any one day is in any event
limited to 50% of the average daily volume traded in
the month of August 2013.

Information pertaining to the share buy-back
programme will be disclosed by way of notices to Oslo
Stock Exchange and also on the Company's website
www.solstad.no.

The share buy-back programme is managed by Carnegie
AS.

For further information, please contact:
Eivind Kvilhaug or Sven Stakkestad (phone +47 52 85
65 00)

Skudeneshavn, 29 August 2013
Solstad Offshore ASA

This information is subject of the disclosure
requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.