Mandatory notification of trade and resolution to issue new shares in connection with employees exercising options in the Company.

Participants in the Company's share option programs have on March 20th 2012 exercised a total number of 1,327,831 options in the Company. A total of 162,500 options have been exercised at a strike price of NOK 2.25 per share, and a total of 1,165,331 options have been exercised at a strike price of NOK 2.50 per share.

The board of directors has consequently, under the authorisation to issue new shares to meet the Company's obligation under the option programmes given by the general meeting on 20th December 2010, resolved to issue a total of 1,327,831 new shares in Dolphin. A total number of 162,500 shares are subscribed at a price of NOK 2.25 per share and 1,165,331 shares are subscribed at a price of NOK 2.50 per share.

Following the registration of the share issue with the Norwegian Registry of Business Enterprises the share capital of Dolphin Group ASA will be NOK 602,691,984 divided into 301,508,992 shares each with a par value of NOK 2.00.

Four primary insiders have exercised in total a number of 264,500 options in the Company. Please find an overview over the number of options exercised, transferral of rights, commitment to purchase shares and overview over new holdings for all the primary insiders' exercising options.

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Ketil Sundal, VP Finance & IR          
Mobile:+47 95 92 21 04
E-mail:ketil@dolphinics.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).

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).