Registered share capital increase

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Registered share capital increase

Storeboe Norway, 7 November 2011

Reference is made to the stock exchange announcement from DOF ASA (DOF) of 1 November 2011.

The share capital increase pertaining to the repair offering by the company, resolved by the board of directors 14 October 2011 on the basis of the registered power of attorney given to the board at general meeting 26 May 2011, has now been registered in the Norwegian Register of Business Enterprises.

DOF’s new share capital is NOK 222,102,696.00 divided by 111,051,348 shares with a nominal value of NOK 2 each.

The new shares issued in the repair offering will be registered on the respective subscribers’ VPS accounts and be registered on the Oslo Stock Exchange on or about 10 November 2011

For further information, please contact:

Mons S. Aase, CEO

Tel: + 47 91 66 10 12

Hilde Drønen, CFO

Tel: +47 91 66 10 09

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Important notice:

This announcement is not an offer for sale of securities in the United States or any other country. The securities referred to herein have not been registered  under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"),  and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. DOF does not intend to register any portion of the offering of the securities in the United States. Any offering of securities will be made by means of a prospectus that may be obtained from DOF and that will contain detailed information about the company and the management, as well as financial statements. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any member State, the "Prospectus Directive"), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e. only to investors who can receive the offer without an approved prospectus in such EEA Member State.

This announcement is only directed at (a) persons who are outside the United Kingdom; or (b) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any invitation or inducement to engage in investment activity can be communicated in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does not apply.