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2015-10-05

Polarcus Limited: Polarcus vessel utilization for Q3 2015

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the
release of the Company's Third Quarter 2015 vessel utilization as follows:

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| Q3 - 2015 Q3 - 2014 Q2-2015 |
| Utilization 93% 77% 80% |
| By category: |
| Contract Seismic 66% 55% 61% |
| Multi-Client 27% 22% 19% |
| Transit 7% 16% 16% |
| Yard 0% 0% 2% |
| Standby 0% 7% 2% |
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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 Third Quarter 2015 Report on 29 October 2015
at approximately 07:00hrs CET (10:00hrs UAE).

A webcast and conference call will be hosted by Polarcus commencing at
08:00hrs CET (11:00hrs UAE). Conference call dial-in information will be
published on 15 October 2015.

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 over 500 professionals worldwide. The Company's
principal office is in Dubai, United Arab Emirates. For more information,
visit www.polarcus.com

Disclaimer

The information included herein may contain forward-looking statements.
Forward-looking statements include all statements that are not historical
facts, including but not limited to statements expressing or implying the
Company's intent, belief or current expectations with respect to, among other
things, forecasts, estimates, and predictions. Such forward-looking
statements necessarily involve risks and uncertainties and are dependent on
assumptions, information, data or methods that may be incorrect or imprecise.
Actual results could differ materially from expectations expressed in the
forward-looking statements if one or more of the underlying assumptions or
expectations proves to be inaccurate or is unrealized. Some factors that
could cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, developments in
the oil and gas industry, the demand for seismic services, the demand for
data from the Company's multi-client library, currency risks, political
risks, regulatory risks, and unexpected operational setbacks. For a further
description of other relevant risk factors we refer to our 2014 Annual
Report. The reservation is also made that inaccuracies or mistakes may occur
in the information given above concerning the current status of the Company
or its business. Any reliance on the information given above is at the risk
of the reader, and Polarcus disclaims any and all liability in this respect.

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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