REACH: MANDATORY OFFER - MANDATORY NOTIFICATION OF TRADE

1/4/2013 10:37 AM EST

Reference is made to the stock exchange notice dated 
7 December 2012 and the offer document of the same 
date relating to the mandatory offer made by Accello 
Partners I AS ("Accello") to acquire all the issued 
and outstanding shares in Reach Subsea ASA ("Reach") 
that are not already owned by Accello, at an offer 
price of NOK 1.60 per Reach share (the "Mandatory 
Offer").

Today, Accello has received acceptances under the 
Mandatory Offer representing in aggregate 3,228 
shares in Reach. 

Consequently, as of today, Accello owns 15,625,000 
Reach shares and has the right and obligation to 
acquire a total of 5,113 Reach shares upon 
consummation of the Mandatory Offer. Based on this, 
Accello will own 15,630,113 Reach shares following 
completion of the Mandatory Offer.

The offer period in the Mandatory Offer expires at 
16:30 hours (CET) on 7 January 2013.

Accello is represented in the board of directors of 
Reach by Anders Onarheim.