ANNOUNCEMENT OF 3RD QUARTER 2008 ACCOUNTS

In connection with 3rd quarter 2008 earnings announcement, Fred. Olsen Energy ASA will host a media- and analyst conference on Thursday 30th October 2008 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 20.10.2008
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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