ANNOUNCEMENT OF 3RD QUARTER 2005 RESULT

In connection with 3rd quarter 2005 earnings
announcement, Fred. Olsen Energy ASA will host a
media- and analyst conference on Wednesday 26th
October at 09.00 a.m. The presentation will be
held at the Company`s office in Fred. Olsensgt.
2, Oslo. Please register to Sølvi van Spronsen,
telephone + 47 22 34 12 43 or by e-mail
svs@fredolsen.no.

Oslo 18.10.2005
Fred. Olsen Energy ASA

About Us

Fred. Olsen Energy ASA (the Company) is listed on the Oslo Stock Exchange and provides exploration and production services to the offshore oil and gas industry building on 150 years experience in shipping and more than 35 years in offshore drilling. The Company focuses on rewarding long term customer relationships where innovative and integrated solutions are presented to the benefit of our customers, shareholders and employees.

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