DOLP: SUCCESSFUL COMPLETION OF PRIVATE PLACEMENT OF NOK 226 MILLION

2/13/2013 6:32 PM EST

Oslo, Norway, 14 February 2013 - Dolphin Group ASA
OSE:DOLP) 

Reference is made to the stock exchange notice
published by Dolphin Group ASA ("Dolphin" or the
"Company") on 13 February 2013 regarding a
contemplated Private Placement of new shares (the
"Private Placement"). 

The Company has successfully completed a Private
Placement of approximately USD 41 million (NOK 226
million). The issue was significantly oversubscribed.
The subscription price has been set to NOK 7.40 per
share following a book-building process. The shares
will be issued according to the existing authorization
to issue new shares. 

The Managers have entered into a share lending
agreement to facilitate delivery of tradable shares to
investors that have been allocated shares in the
Private Placement. Following the completion of the
Private Placement, Dolphin will have 335,885,325
shares outstanding at a par value of NOK 2.00 per share.
     
SEB and Pareto Securities acted as Joint Lead Managers
and Bookrunners in the Private Placement. 

In yesterday's stock exchange release, Dolphin
announced certain expected Q4 2012 financial
highlights. In the release, USD 14.3 million was
classified as net income after tax. The correct
classification should be net income before tax as
presented in the updated company presentation. 

This information is subject of the disclosure
requirements acc. to §5-12 (Norwegian Securities
Trading Act).

For further information, please contact:

Atle Jacobsen, CEO 
Mobile:	+47 97 71 53 36
E-mail: 

Erik Hokholt, CFO 
Mobile:	+47 90 75 60 64
E-mail:  

Phone:	+47 55 38 75 00
www.dolphingroup.no 
www.dolphingeo.com 

Dolphin Group ASA is the parent company of Dolphin
Geophysical AS, a global full-range, asset light
supplier of marine geophysical services. Dolphin
operates a fleet of new generation, high capacity
seismic vessels and offers contract seismic surveys
and Multi-Client projects and processing services on a
worldwide basis. Dolphin Group ASA is listed at Oslo
Stock Exchange (OSE ticker: DOLP).

THIS PRESS RELEASE MAY NOT BE DISTRIBUTED IN, OR TO
ANY PERSON RESIDENT IN THE U.S., CANADA, AUSTRALIA OR
JAPAN OR TO ANY AMERICAN CITIZEN EXCEPT PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
U.S. SECURITIES ACT OF 1933. ANY FAILURE TO COMPLY
WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF
APPLICABLE SECURITIES LEGISLATION