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GC Rieber Shipping has entered into an agreement to sell the CSV «Polar
Prince», built at Flekkefjord Verft in 1999.

The transaction will provide GC Rieber Shipping with an accounting gain of
approximately NOK 10 million and the vessel is expected to be delivered to
the new owner early June.

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 specialized competence in operations offshore 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.

GC Rieber Shipping has it's headquarter and a ship management company in
Bergen, and an additional ship management company in Yuzhno-Sakhalinsk
(Russia). The company is listed on Oslo Børs with ticker RISH.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)


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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