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2014-05-20

American Shipping Company ASA : Primary insider disclosure

Oslo, 20 May 2014 - Dag Fasmer Wittusen, the CEO of American Shipping Company
ASA ("AMSC" or the "Company"), has today acquired 100,000 shares in AMSC from
the Company through his wholly controlled Beddingen Finans AS. The price per
share was NOK 41.20, a total consideration of NOK 4,120,000, 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 in accordance with the share purchase
agreement entered into between the Company and the CEO on 13 January 2014 as
announced in a stock exchange notice as of the date thereof.

Following the transaction, Beddingen Finans AS holds a total of 113,216 shares
in AMSC, constituting approximately 0.19% of the Company's shares and votes.

***

The information contained herein is subject to the disclosure requirements of
section 4-2 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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