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2015-03-24

Farstad Shipping ASA: Farstad Shipping ASA - Approved Annual Accounts 2014

Farstad Shipping ASA's audited Annual Accounts for 2014 were approved by the
board of directors on 24 March 2015. The final Annual Accounts for 2014 are
identical to the preliminary accounts published on 24 February 2015.

Business Review 2014 and Annual Report including the approved accounts for
2014 will be available on our website as from 27 March 2015. To obtain a
printed version of the reports, please contact the company by
e-mailir@farstad.com.

Notice of Annual General Meeting including annexes will be distributed to the
shareholders in week 16.

The Annual General Meeting will be held on 12 May 2015.The board of directors
has decided to propose to the Annual General Meeting to pay a dividend of NOK
3.00 per share for the financial year 2014. Provided that the Annual General
Meeting approves the proposal, the share will be traded ex-dividend as from
13 May 2015.

Contacts:

CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein L. Stavseng - tel. +47 911 07 001

Farstad Shipping's fleet currently consists of 61 vessels (31 AHTS, 26 PSV and
4 SUBSEA) and 3 SUBSEA vessels under construction. The company's operations
are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de
Janeiro with a total of 2,200 employees engaged onshore and offshore. The
company's strategy is to be a leading quality provider of large, modern
offshore service vessels to the oil industry. The company maintains a
long-term charter profile for the fleet.

www.farstad.com

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: Farstad Shipping ASA via Globenewswire

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