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2014-04-08

Scanship Holding ASA: SCANSHIP HOLDING ASA - SUCCESSFUL COMPLETION OF IPO

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, THE
UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN, OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

SCANSHIP HOLDING ASA - SUCCESSFUL COMPLETION OF IPO

Bærum, 8 April 2014. Scanship Holding ASA ("Scanship" or the "Company", ticker
code: "SSHIP") announces the successful completion of the initial public
offering of the shares of the Company. (the "Offering").

Fondsfinans AS is acting as manager for the Offering and is hereafter referred
to herein as the "Manager".

In summary:

* Scanship will issue 25 505 525 new shares in connection with the Offering.
There will be 95 505 525 shares outstanding following the issuance of the
new shares.
* The Manager has over-allotted 531 569 shares, representing approximately 2
% of the number of shares otherwise allotted in the Offering, and exercised
its option to borrow 531 569 shares from the Selling Shareholders for the
purpose of delivering over-allotted shares.
* The shares are priced at NOK 3.20 per share. Investors in the retail
offering will receive a discount of NOK 1,500 on the aggregate amount
payable for the shares allocated to such investors.
* The offer price of NOK 3.20 per share implies a market capitalisation of
Scanship of approximately NOK 306 million following the issuance of the new
shares in the Offering.
* Trading of the shares in Scanship on Oslo Axess will commence on 11 April
2014.

Approximately 77 % of the shares in the Offering were allotted to investors in
the institutional offering and approximately 23 % of the shares were allotted
to investors in the retail offering. Following the Offering, Scanship is
expected to have approximately 1 100 shareholders.

Notifications of allotted shares and the corresponding amount to be paid by
investors are expected to be communicated to the investors on or about 8
April 2014. Investors having access to investor services through their VPS
account manager will be able to check the number of shares allocated to them
from approximately 09.30 hours (CET) on 8 April 2014. The Manager may also be
contacted for information regarding allocation.

The Selling Shareholders have granted the Manager an over-allotment option,
exercisable within 30 days from the date hereof to cover over-allotments or
other short positions in connection with the Offering. A separate disclosure
will be issued by the Manager regarding the over-allotment and stabilisation
activities.

For further queries, please contact:

Sigurd Gaarder Lange - CFO
Scanship Holding ASA
Tel: +47 90 79 81 55
Email: sigurd.lange@scanship.no

ABOUT SCANSHIP HOLDING ASA

Scanship is an industry leader in advanced technologies for processing waste
and purifying water within the maritime industry. Owners of vessels operating
our systems have the solutions to convert all waste and wastewater to inert
materials, recyclables, clean flue gas and effluent which meets the highest
international discharge standards. Our new technologies will recover water
and produce energy, providing tangible payback from the operations. We strive
for the highest quality, innovative and sustainable solutions.

DISCLAIMERS

The contents of this announcement have been prepared by, and are the sole
responsibility of, the Company. This announcement is not and does not form a
part of any offer for sale of securities.

This announcement is not for release, publication or distribution, directly or
indirectly, in the United States, or any other jurisdiction in which such
distribution would be unlawful or would require registration or other
measures.

These materials are not an offer for sale of securities in the United States.
Securities may not be sold in the United States absent registration with the
United States Securities and Exchange Commission or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the
"Securities Act". Scanship does not intend to register any part of the
offering in the United States or to conduct a public offering of shares in
the United States.

Any offering of the securities referred to in this announcement will be made
by means of a prospectus. This announcement is not a prospectus for the
purposes of Directive 2003/71/EC (as amended, together with any applicable
implementing measures in any Member State, the "Prospectus Directive").
Investors should not subscribe for any securities referred to in this
announcement except on the basis of information contained in the
aforementioned prospectus.

In any EEA Member State other than Norway that has implemented the Prospectus
Directive, this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Directive. The expression "Prospectus Directive" means Directive 2003/71/EC
(and amendments thereto, including Directive 2010/73/EU, to the extent
implemented in any relevant Member State) and includes any relevant
implementing measure in the relevant Member State.

This communication is only being distributed to and is only directed at
persons in the United Kingdom that are (i) investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net
worth entities, and other persons to whom this announcement may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as "relevant persons"). This communication
must not be acted on or relied on by persons who are not relevant persons.
Any investment or investment activity to which this communication relates is
available only to relevant persons and will be engaged in only with relevant
persons. Persons distributing this communication must satisfy themselves that
it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although Scanship believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its
control. Such risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the expectations
expressed or implied in this release by such forward-looking statements.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice.

The Manager is authorised and regulated by the Financial Supervisory Authority
of Norway and is acting exclusively for the Company and the Selling
Shareholders and no one else in connection with the Offering and assumes no
responsibility for this announcement. The Manager will not be responsible to
anyone other than the Company for providing the protections afforded to its
respective clients, or for advice in relation to the Offering, or any of the
matters referred to herein.

None of the Manager or any of its respective directors, officers, employees,
advisers or agents accepts any responsibility or liability whatsoever for/or
makes any representation or warranty, express or implied, as to the truth,
accuracy or completeness of the information in this announcement (or whether
any information has been omitted from the announcement) or any other
information relating to the Selling Shareholders or the Company, its
subsidiaries or associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for any loss
howsoever arising from any use of announcement or its contents or otherwise
arising in connection therewith.

This information is subject to 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: Scanship Holding ASA via Globenewswire

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