Disclosure

Geveran Trading Co. Limited a company affiliated with
Northern Offshore director Cecilie Fredriksen has on
October 5th 2010 through market transactions
acquired 460.000 shares in Northern Offshore Ltd at
a price of NOK 14,9859 per share. Geveran Trading Co.
Limited total position is after this transaction
51,490,000 shares equal to 32.68% of the total
outstanding shares in Northern Offshore Limited