DOF INSTALLER ASA – EXTENSION OF APPLICATION PERIOD IN CONTEMPLATED PRIVATE PLACEMENT OF SHARES

Reference is made to press release dated 18 March 2010 regarding the contemplated private placement of shares in DOF Installer ASA (“DOF Installer”). On 24 March 2010, and in accordance with the terms of application, DOF Installer decided to extend the application period until Thursday 25 March 2010 at 20:00 hours (CET). The extension is made in order to provide remaining potential subscribers an opportunity to finalise their internal investment decisions. DOF Subsea Holding 2 AS, the largest shareholder of DOF Installer, has committed to subscribe for, and will be allocated, approximately 53% of the new shares to be issued in the contemplated private placement in order to maintain its existing ownership, and has in addition fully underwritten the remaining portion of the private placement. For further information, please contact: Mons Aase, chairman of DOF Installer Tel: +47 91 66 10 12 Important notice : This notice is not an offer for sale of securities in the United States. The securities referred to in this notice have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration.