DOF06 - Net Asset Value - Norskan

With reference to the loan agreement for the DOF06 secured bond, DOF reports Net Asset Value (NAV) of the pledged shares in Norskan: As per the last balance sheet date, 30 September 2009, the shares in Norskan AS that are security for the bond loan DOF06 had an estimated NAV of NOKm 2,309 (based on shipbroker value estimates gathered per 30 September 2009). This corresponds to 237% of the outstanding loan amount and is accordingly in compliance with the loan agreement’s requirement for minimum 125%. For further information, please contact CFO Hilde Drønen, (+47) 91 66 10 09