DOLP - Implementation of employee share option plan

January 4, 2012 - Oslo, Norway

The Board of directors of Dolphin Group ASA has approved a 2012 share option program to issue up to 9 365 164 new options, increasing the total outstanding aggregate number of options to 24 million as approved by the Dolphin Annual General Meeting on May 31st. 2012.

One option will give the right to subscribe for one share at a share price of NOK 6,25 per share, representing the 30 days average closing price for the period 15 November 2012 to 2 January 2013.

The options are vested in three tranches over a period of three years. The share options plan has incorporated several performance targets as part of the vesting criteria's.

Attachment; Overview of option allocation to primary insiders

For further information, please contact:

Erik Hokholt, CFO
Mobile:+47 90 75 60 64
E-mail:erik.hokholt@dolphingeo.com  

Dolphin Group ASA
Phone:+47 55 38 75 00
     
www.dolphingroup.no
www.dolphingeo.com

Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services. Dolphin operates a fleet of new generation, high capacity seismic vessels and offers contract seismic  surveys, Multi-Client projects and processing  services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).