DOLP: CONTEMPLATED PRIVATE PLACEMENT

Oslo, Norway, 6 March 2012 - Dolphin Group ASA (OSE:DOLP)

DOLP: CONTEMPLATED PRIVATE PLACEMENT

Dolphin Group ASA ("Dolphin) has retained SEB Enskilda and DNB Markets (the "Managers") to advise on and effect a contemplated private placement ("Private Placement") of new shares directed towards investors in Norway and internationally, raising gross proceeds of USD 35-40 million (approx. NOK 197-225 million).  

The new shares will be issued pursuant to the authorization to the Board of Directors granted at Dolphin's Extraordinary General Meeting held on 10 November 2011. Completion of the Private Placement is subject to the approval by the Board of Directors.
     
The application period commences on 6 March 2012 17:30 (CET). The Company may however, at any time resolve to close or extend the application period at its own discretion. The subscription price will be set through a bookbuilding process.

The minimum order size in the Private Placement has been set to the number of shares that equals an aggregate purchase price of at least the NOK equivalent of EUR 50,000.

Following the Private Placement, Dolphin will exercise the option to charter the high-end 3D vessel Sanco Sword from Sanco Shipping with expected delivery in Q1 2014. The proceeds from the Private Placement will be used to finance the equity part of the streamer package for Sanco Sword as well as working capital and investments in processing capacity.

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:atle.jacobsen@dolphingeo.com

Erik Hokholt, CFO
Mobile:+47 90 75 60 64
E-mail:erik.hokholt@dolphingeo.com

Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

Phone:+47 23 16 70 00
Fax:+47 23 16 71 80         

www.dolphingroup.no
www.dolphingeo.com

Dolphin Group ASA has two main business areas; Dolphin Geophysical AS and Dolphin Interconnect Solutions AS. Dolphin Geophysical is a global full- range, asset light supplier of marine geophysical services and operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys and multi-client projects worldwide. Dolphin Interconnect is a global supplier of high performance solutions (hardware- and software) for the server and embedded systems market. 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.

About Us

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, Multi-Client projects and processing services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).

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