Mandatory notification of trade

In connection with the Private Placement in Dolphin Group ASA (hereafter referred to as "Dolphin" or the "Company") concluded on 18th October 2011 the following primary insiders have subscribed for and been allotted shares in the Private Placement:

Atle Jacobsen, CEO, has been allotted 333,333 shares in Dolphin through Three M AS that is controlled by Mr Jacobsen. Subsequent to the completion of the share issue Mr Jacobsen will directly and indirectly hold 3,175,367 shares in Dolphin. In addition he holds 532,000 options and indirectly controls 1,598,000 warrants in the Company.

Erik Hokholt, CFO, has been allotted 333,333 shares in Dolphin through Økonomi og Regnskapsbistand AS that is controlled by Mr Hokholt. Subsequent to the completion of the share issue Mr Hokholt will directly and indirectly hold 3,233,333 shares in Dolphin. In addition he holds 456,000 options and indirectly controls 1,598,000 warrants in the Company.

Peter Hooper, Vice President Operations, has been allotted 133,333 shares in Dolphin through EMWI AS that is controlled by Mr Hooper. Subsequent to the completion of the share issue Mr Hooper will directly and indirectly hold 1,453,333 shares in Dolphin. In addition he holds 456,000 options and indirectly controls 1,198,500 warrants in the Company. Further, Mr Hooper is the CEO of Fjord Partners Invest AS that holds 2,500,000 shares in Dolphin.

Bjarne Stavenes, Vice President Technical, has been allotted 116,667 shares in Dolphin through Stavenes Invest AS that is controlled by Mr Stavenes. Subsequent to the completion of the share issue Mr Stavenes will directly and indirectly hold 543,612 shares in Dolphin. In addition he holds 456,000 options and indirectly controls 1,198,500 warrants in the Company.

Phil Suter, Vice President Marketing & Sales, has been allotted 50,000 shares in Dolphin. Subsequent to the completion of the share issue Mr Suter will hold 190,000 shares in Dolphin. In addition he holds 456,000 options and indirectly controls 1,198,500 warrants in the Company.

Gareth Williams, Chief Geophysicist, has been allotted 116,667 shares in Dolphin. Subsequent to the completion of the share issue Mr Williams will hold 216,667 shares in Dolphin. In addition he holds 300,000 options in the Company.

Ian Edwards, Vice President Multi-Client, has been allotted 300,000 shares in Dolphin. Subsequent to the completion of the share issue Mr Edwards will hold 300,000 shares in Dolphin. In addition he holds 600,000 options in the Company.

All the shares that are allotted in the Private Placement are subscribed to a price of NOK 3.00 per share.

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

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


Ketil Sundal, VP Finance & IR          
Mobile:+47 95 92 21 04
E-mail:ketil@dolphinics.com


Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

Phone:+47 23 16 70 00
Fax:+47 23 16 71 80         
www.dolphingroup.no  

Dolphin Group ASA has two main business areas; Dolphin Geophysical AS and Dolphin Interconnect Solutions AS. Dolphin Geophysical is a global full-range, asset light supplier of marine geophysical services and operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys and multi-client projects worldwide. Dolphin Interconnect is a global supplier of high performance solutions (hardware- and software) for the server and embedded systems market. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).