DOLP: SUCCESSFUL COMPLETION OF PRIVATE PLACEMENT OF NOK 226 MILLION

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 SecuritiesTrading 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

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.

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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