REPORT 3 QUARTER 2007

Revenues in the quarter were 1737 million
EBITDA were 825 million
EBIT were 596 million
Net profit after tax and minorities was 378
million
Earnings per share were NOK 11.70

For full information see attachment on:
www.newsweb.noComments to the accounts for Bonheur ASA

As a consequence of Bonheur ASA`s increased
ownership of Ganger Rolf ASA from 49.67% to 51.28%
in the fourth quarter 2006, the accounts of Ganger
Rolf ASA were consolidated as a subsidiary of
Bonheur ASA. As Bonheur and Ganger Rolf have a
joint ownership of their most important
investments, the increased ownership entailed full
consolidation for accounting purposes of a number
of companies which previously had been treated as
associated companies. In addition, some companies
which previously were accounted for at cost are
now consolidated according to the equity method.

The accounting standards require that Bonheur also
presents comparable accounts for previous periods
as they were actually submitted (not restated).
Consequently, Bonheur´s official accounts for the
third quarter 2007 are presented as follows:

- Third quarter and as per 30 September 2007
with full consolidation for accounting purposes of
subsidiaries.

- Third quarter and as per 30 September 2006
with consolidation according to the equity method.

- Full year 2006, of which the fourth
quarter is based upon full consolidation for
accounting purposes and the first three quarters
are in accordance with the equity method.

Proforma comparable accounts for the third quarter
2006, and as per 30 September 2006 and full year
2006 with full consolidation for accounting
purposes of Ganger Rolf and other subsidiaries are
included in Note 9 to the accounts (see page 13).

Financial information

The figures are in NOK, unless otherwise
indicated. Comparable figures from the
corresponding period in 2006 are in brackets.

The Group´s operating revenues amounted to 1,737
million in the quarter and earnings before
interest, tax, depreciation and amortization
(EBITDA) were 825 million. Operating result (EBIT)
was 596 million. Net financial result in the
quarter was 139 million.

Associated companies (NHST Media Group AS,
TusenFryd AS, Oceanlink Ltd, Genomar AS and
Comarit SA) were consolidated with a net profit of
44 million during the quarter.

Result after tax and minority interests amounted
to 378 million. The minority interests in the
consolidated accounts for Bonheur ASA with
subsidiaries (`Group`) consist of ownership of
46.57% in Fred. Olsen Energy ASA, 46.87% in Ganger
Rolf ASA and 38.46% in Fred. Olsen Production ASA.

The Group`s main business segments consist of
Energy services, Renewable energy, Shipping and
Other investments. The results for the individual
business segments are included in Note 5. The
business segment Energy services is divided into
Offshore drilling and Floating production, while
Shipping is divided into Tankers, Cruise and Other
shipping activities.

Other information
Events after 30 September 2007

In September a subsidiary of First Olsen Ltd.,
which in turn is owned 50/50 by Bonheur ASA and
Ganger Rolf ASA, entered into an agreement for the
sale of the 1977 built semi-submersible Aker H3
rig Bulford Dolphin for a consideration of USD 211
million. Delivery is expected to take place in the
4th quarter 2007, and estimated net book sales
gain is approx USD 193 million which will be
accounted for in the 4th quarter 2007.

On 17 October Tinworth Pte Ltd (indirectly owned
50% by each of Fred. Olsen Production ASA and
Prosafe ASA) entered into an agreement with
Vaalco, Gabon to extend the contract for FPSO
Petróleo Nautipa with 4 years from September 2011
until September 2015 and with options for another
1+1 year. Also, the field operator will be
entitled to increase oil production beyond the
current contractual capacity of the FPSO against
the introduction of a new tariff element in the
compensation structure. Total EBITDA-contribution
from the tariff element in the compensation
structure and the additional 4 years to 2015 is
estimated at USD 40 million. The Etame partners
have an option to terminate the contract if
drydocking of Petróleo Nautipa is required in 2012.