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2016-01-27

American Shipping Company ASA : Primary insider disclosure

27 January 2016 - Pål Magnussen, the CEO of American Shipping Company ASA
("AMSC" or the "Company"), has today acquired 30,000 shares in AMSC from the
Company. The price per share was NOK 19.44, a total consideration of NOK
583,200, which constitutes today's closing price, less a price reduction of
20% to compensate for the lock-up restrictions on the shares for a period of
three years.

The acquisition was carried out as part of the incentive scheme for the
Company's employees, as announced in a stock exchange notice of January 18,
2016.

Following the transaction, the Company holds 0 treasury shares and Pål
Magnussen holds a total of 50,000 shares in AMSC, constituting approximately
0.08% of the Company's shares and votes.

***

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: American Shipping Company ASA via Globenewswire

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