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

Participants in the Company's share option programs have on May 31th 2012 exercised a total number of 200,000 options in the Company has 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 200,000 new shares in Dolphin. A total number of 200,000 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 609,491,984 divided into 304,745,992 shares each with a par value of NOK 2.00.

No primary insiders have exercised 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:

Nina Midtlie, Group Financial Director          
Mobile:+47 98 20 63 78

Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

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).