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2016-05-18

GC Rieber Shipping: GC Rieber Shipping secures 45 day job for Polar Marquis in the Black Sea

GC Rieber Shipping ASA, through its wholly owned subsidiary Dolphin
Geophysical LTD, has entered into an agreement for seismic acquisition and
processing services, including the delivery of a fast track 3D volume for
Black Sea Oil&Gas S.R.L and its co-venture partners. The job will utilize the
16 streamer vessel Polar Marquis, towing a high resolution multistreamer
configuration. Commencement is shortly and the vessel acquisition will take
place offshore the Romanian coast of the Black Sea.

"In this challenging market we're pleased to see that clients value our highly
advanced assets and our ability to adapt to specific needs, together with the
high quality acquisition and processing services delivered by Dolphin
Geophysical LTD.", says CEO Irene Waage Basili.

For further information, please contact:

CEO Irene Waage Basili, tel.: +47 55 60 68 67, or +47 900 98 688

CFO Einar Ytredal, tel.: +47 55 60 68 54, or +47 975 20 184

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 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 the company owns 11.

The company has its headquarter and a ship management office in Bergen, and an
additional 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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