DOLPHIN GROUP ASA - APPROVED PROSPECTUS AND LISTING OF NEW SHARES

Oslo, 5 January 2011 - Dolphin Group ASA (OSE:DOLP).

Reference is made to the stock exchange announcements dated 13 December 2010 and 20 December 2010 regarding the completed private placement and the extraordinary general meeting in the company.

The Financial Supervisory Authority of Norway (Finanstilsynet) has today approved the following prospectus:

Listing on Oslo Børs of 151,673,000 new shares in Dolphin Group ASA issued in connection with a private placement of shares completed on 10 December 2010 at a subscription price per share of NOK 2.50, and the Subsequent Offering of up to 4,824,000 Offer Shares at an Offer Price of NOK 2.50 per Offer Share with preferential rights for Eligible Shareholders as of 9 December 2010.

Subscription Period for the Subsequent Offering: 10 January - 21 January 2011 at 17:30 (CET), both dates inclusive. Preferential rights not used to subscribe for Offer Shares before the expiry of the Subscription Period will be of no value and will lapse without compensation to the holder.


Eligible Shareholders as of 9 December 2010, as registered in the VPS on 14 December 2010, have preferential rights to participate in the subsequent offering. Eligible shareholders will be notified in a separate letter with an overview of rights allocated. Oversubscription is allowed. Please refer to the prospectus dated 5 January 2011 for further details.

The prospectus and application form for the subsequent offering is available at the Company's website www.dolphinics.com and at the websites of the managers, First Securities (www.first.no) and SEB Enskilda (www.sebenskilda.no).
 
The prospectus can also be received free of charge on request to the managers or the company.

With the approval of the prospectus, all of the 151,673,000 issued shares in the private placement will be listed on Oslo Stock Exchange from 6 January 2011. The shares will be listed under the same ISIN and ticker code as the Company's other shares. Upon the issuance of the new shares, the Company has a total of 159,859,705 listed shares.

The Company's share capital is NOK 319,719,410, divided into 159,859,705 Shares each with a nominal value of NOK 2.00.

This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).  


For further information, please contact


Ketil Sundal, CFO
Tlf:23 16 70 02         
Mob:95 92 21 04
E-post:ketil@dolphinics.com


Dolphin Group ASA
Olaf Helsetsvei 6
0619 OSLO

Tlf:23 16 70 00
Fax:23 16 71 80         
www.dolphinics.com