Polarcus Limited: Polarcus vessel utilization for Q1 2016

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the
release of the Company's First Quarter 2016 vessel utilization as follows:

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| Utilization Q1 - 2016 Q1 - 2015 FY - 2015 |
| Utilization 79% 83% 84% |
| By category: |
| Contract Seismic 67% 47% 60% |
| Multi-Client 12% 36% 24% |
| Transit 11% 9% 10% |
| Yard 6% 0% 1% |
| Standby 4% 8% 5% |
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Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking
on 01 April 2015

The Company will be releasing its First Quarter 2016 Report on 27 April 2016
at approximately 07:00hrs CET (09:00hrs UAE).

A webcast and conference call will be hosted by Polarcus commencing at
08:00hrs CET (10:00hrs UAE). Conference call dial-in information will be
published 13 April 2016

Contacts

Duncan Eley, COO
+971 4 4360 915
duncan.eley@polarcus.com

Hans-Peter Burlid, CFO
+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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