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2016-03-14

Golden Ocean Group Limited: GOGL - Preliminary Result of Subsequent Offering

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA OR
JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD
BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED
HEREIN.

Reference is made to the subsequent offering by Golden Ocean Group Limited
(the "Company") of up to 34,368,400 new shares in the Company for gross
proceeds of up to approximately NOK 171,842,000 (approximately USD 20
million) (the "Subsequent Offering") at a subscription price of NOK 5 per
share.

The subscription period ended on March 11, 2016 at 16:30 (CET).

A preliminary counting indicates that the Company has received subscriptions
for approximately 15 million new shares in the Subsequent Offering.

The allocation of the shares in the Subsequent Offering is expected to be
resolved by the Company following close of trade on March 14, 2016, in
accordance with the allocation criteria set out in the Company's prospectus
dated February 23, 2016. The final result of the Subsequent Offering will be
published shortly thereafter, and subscribers who are allocated shares will
receive a letter with the number of allocated new shares and the
corresponding subscription amount to be paid by each of the subscribers.

March 14, 2016

Hamilton, Bermuda

Golden Ocean Group Limited

***

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements, which include
statements concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are other
than statements of historical facts. Words such as "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
forward-looking statements.

The forward-looking statements in this press release are based upon various
assumptions. Although we believe that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. The information set
forth herein speaks only as of the date hereof, and we disclaim any intention
or obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,
important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies, fluctuations in currencies and interest rates,
general market conditions, including fluctuations in charter hire rates and
vessel values, changes in demand in the dry bulk market, changes in our
operating expenses, including bunker prices, drydocking and insurance costs,
the market for our vessels, availability of financing and refinancing,
changes in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents, political events or acts by terrorists, and
other important factors described from time to time in the reports filed by
the Company with the Securities and Exchange Commission.

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: Golden Ocean Group Limited via Globenewswire

HUG#1993886

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