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2016-02-12

Polarcus Limited: Polarcus extends Bareboat agreement with SCF Group

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to
announce the three-year extension of the Bareboat Charter Party Agreement
("BBCP") for M/V Vyacheslav Tikhonov (the "Vessel") between Polarcus Selma
Limited ("Polarcus Selma"), Polarcus' wholly owned subsidiary, and SCF
Sakhalin Supply Limited ("SCF").

Reference is made to the stock exchange notice published by Polarcus on 11
August 2011 where Polarcus announced a strategic agreement with SCF Group.

This extension was carried out pursuant to SCF's option within the terms of
the current BBCP (in force since 2011). The vessel charter shall continue for
a further period of three years starting from 18 August 2016.

Contacts

Tom Henrik Sundby, CFO
+971 50 708 6480
tom.sundby@polarcus.com

Hans-Peter Burlid, VP Finance&Investor Relations
+971 50 559 8175
hp.burlid@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a
pioneering environmental agenda, delivering high-end towed streamer data
acquisition and imaging services from Pole to Pole. Polarcus operates a fleet
of high performance 3D seismic vessels incorporating leading-edge maritime
technologies for improved safety and efficiency. Polarcus offers contract
seismic surveys and multi-client projects with advanced onboard processing
solutions and employs nearly 500 professionals worldwide. The Company's
principal office is in Dubai, United Arab Emirates. For more information,
visitwww.polarcus.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: Polarcus Limited via Globenewswire

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