DOF Subsea AS contemplates issuing an unsecured bond loan 29 June 2009

DOF Subsea AS is contemplating issuing an unsecured bond loan in the Norwegian bond market with maturity date 9 July 2012. In connection with the contemplated bond issue, DOF Subsea AS will offer a contingent buy-back of bonds in DOFSUB02 (ISIN: NO 001 045320.2). Net proceeds from the contemplated bond issue are to be used to refinance existing debt and for general corporate purposes. DnB NOR Markets, First Securities and Pareto Securities are arrangers of the new issue and the contingent buy-back of bonds. For further information, please contact: DOF ASA CEO Mons Aase, phone +47 9166 1012 DnB NOR Markets Jan Krogh-Vennemo, phone +47 2201 7789 First Securities Arne Jacobsen, phone +47 2311 6273 Pareto Securities Inge Edvardsen, phone +47 2287 8771