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WIND TURBINE CONTRACT - CRYSTAL RIG II

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Fred. Olsen Renewables AS, which is 50% owned by
each of Ganger Rolf ASA and Bonheur ASA, has,
through a wholly owned subsidiary, entered into a
turbine supply agreement and a five year service
and warranty agreement with Siemens Power
Generation for the supply of 51 turbines for the
Crystal Rig II wind farm project.

For full information see: www.newsweb.noFred. Olsen Renewables AS, which is 50% owned by
each of Ganger Rolf ASA and Bonheur ASA, has,
through a wholly owned subsidiary, entered into a
turbine supply agreement and a five year service
and warranty agreement with Siemens Power
Generation for the supply of 51 turbines for the
Crystal Rig II wind farm project. The turbines
will be delivered during 2009 and 2010 and are of
the make Siemens 2300 kW (SWT-2.3-82 VS). The
total contract value for the two aforementioned,
agreements is about GBP 100 million.

The Crystal Rig II wind farm is located in the
Lammermuir Hills, southeast of Edinburgh,
Scotland,
and will on completion have a generating capacity
of 117MW.

Contact person: CEO Katherine Støvring,
Fred.Olsen Renewables AS,
phone: +47 48401137 / +47 22341122

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