DOF INSTALLER ASA – CONTEMPLATED PRIVATE PLACEMENT OF SHARES

DOF Installer ASA (“DOF Installer”) intends to raise gross proceeds of NOK 40 million through a private placement of shares by issuing a total of 800,000 new shares at a subscription price of NOK 50 per share. The total number of shares outstanding following completion of the contemplated private placement will be 6,431,000 shares. The private placement will be subject to the required approval by shareholders at the General Meeting in DOF Installer to be held on 24 September 2009. The application period will open on 10 September 2009 and close on 17 September 2009 at 17:00 hours (CET). However, the application period may close earlier or be extended at DOF Installer's discretion. DOF Subsea Holding 2 AS, the largest shareholder of DOF Installer, together with certain other existing shareholders have committed to subscribe for, and will be allocated, approximately 68% of the new shares to be issued in the contemplated private placement in order to maintain or partly maintain their existing ownership, and have in addition fully underwritten the remaining portion of the private placement. The purpose of the private placement is to partly finance the construction of DOF Installer’s four large anchor handling vessels to be built by STX Europe in Norway (Aukra). For further information, please contact: Mons Aase, board member of DOF Installer Tel: +47 91 66 10 12