Disclosure of share acquisition

Funds managed by Audley European Opportunities Master Fund Limited (the "Audley Fund") purchased 2,000,000 shares in Dolphin Group ASA (the "Company") on 21st February 2011. Following the acquisition, the Audley Fund controls 9,832,000 ordinary shares in the Company. Based on the number of outstanding ordinary shares the Audley Fund controls 6.0% of the total number of shares and voting rights in the Company.