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2015-04-21

GC Rieber Shipping: GC Rieber Shipping - Employment of crewboats

GC Rieber Shipping has through its 50/50 joint venture with Prisco entered
into a new five-year charter agreement with Sakhalin Energy Investment
Company Ltd for the two crewboats "Polar Baikal" and "Polar Piltun". The
operations under new agreement will commence in June 2015. The crewboats will
be operating in the Sea of Okhotsk in Russia.

For further information, please contact:

CEO Irene Waage Basili, phone + 47 55 60 68 67 or + 47 90 09 86 88

CFO Einar Ytredal, phone +47 55 60 68 54, or +47 97 52 01 84

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in
specialized vessels, high quality marine ship management and project
development within the segments subsea, ice/support and marine seismic. The
group has a unique competence in offshore operations in harsh environments as
well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates 13 advanced special purpose vessels for
defined markets within the subsea, ice/support and marine seismic segments,
of which 11 are owned by the company. In addition, the company has one
seismic vessel for delivery in the spring 2015.

GC Rieber Shipping is headquartered in Bergen and has a ship management
company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs
with ticker RISH. Further information is available on the company's website
www.gcrieber-shipping.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(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: GC Rieber Shipping via Globenewswire

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