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DOF Subsea AS Contemplating the Issuance of a New Unsecured Bond Issue

28 September 2010

DOF Subsea AS is contemplating the issuance of a new unsecured bond issue in the Norwegian bond market with maturity in April 2014. The contemplated bond issue will have a minimum issue amount of NOK 650 million and a borrowing limit of NOK 1,000 million.

Net proceeds from the contemplated bond issue are to be used to refinance existing bonds and for general corporate purposes.

Arctic Securities, First Securities, Nordea Markets and Pareto Securities have been retained as arrangers of the new bond issue.

For further information, please contact:

Mons Aase, CEO, Tel: +47 91 66 10 12