DOF INSTALLER ASA – PRIVATE PLACEMENT OF SHARES COMPLETED

Reference is made to press release dated 10 September 2009 regarding the private placement of shares in DOF Installer ASA (“DOF Installer”). On 17 September 2009, DOF Installer completed the private placement of shares raising gross proceeds of NOK 40 million. The private placement is subject to approval at the EGM to be held on 24 September 2009. As a result of the private placement, a total of 800,000 new shares will be issued at a subscription price of NOK 50 per share. The total number of shares outstanding post the private placement will be 6,431,000 shares. DOF Subsea Holding 2 AS, the largest shareholder of DOF Installer, was allotted 567,000 new shares and will own approx. 53% of the share capital of DOF Installer post 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 at STX Europe in Norway (Aukra). The private placement of shares was managed by Pareto Securities AS. For further information, please contact: Mons Aase, board member of DOF Installer Tel: +47 91 66 10 12