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POWER PURCHASE AGREEMENT CRYSTAL RIG II

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Fred. Olsen Renewables AS, which is owned 50% each
by Bonheur ASA and Ganger Rolf ASA, has through
its wholly owned subsidiary Crystal Rig II Ltd.,
UK, entered into a 7 years Power Purchase
Agreement with EDF Energy Plc for the sale of
electricity from the Crystal Rig II wind farm
project in Scotland. The contract is based on the
UK market price of electricity and
associated `green` benefits.

For full information see: www.newsweb.noFred. Olsen Renewables AS, which is owned 50% each
by Bonheur ASA and Ganger Rolf ASA, has through
its wholly owned subsidiary Crystal Rig II Ltd.,
UK, entered into a 7 years Power Purchase
Agreement with EDF Energy Plc for the sale of
electricity from the Crystal Rig II wind farm
project in Scotland. The contract is based on the
UK market price of electricity and
associated `green` benefits.

Crystal Rig II Ltd. intends, to construct and
operate a wind farm in the Lammermuir Hills,
southeast of Edinburgh, Scotland. The wind farm is
designed to have a generation capacity of
approximately 117 MW, comprising 51 Siemens 2300kW
wind turbines. Crystal Rig II is scheduled to be
commissioned by mid of 2010.

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