Mandatory notification of trade and resolution to issue new shares in connection with employees exercising options in the Company

Participants in the Company's share option programs have on November 26th 2012 exercised a total number of 277 000 options in the Company at a strike price of NOK 2.50 per share.

The board of directors has consequently, under the authorisation to issue new shares to meet the Company's obligation under the option programmes given by the general meeting on 12 November 2011, resolved the CEO to issue a total of 277 000 new shares in Dolphin. A total number of 277 000 shares are subscribed at a price of NOK 2.50 per share.

Following the registration of the share issue with the Norwegian Registry of Business Enterprises the share capital of Dolphin Group ASA will be NOK 610 700 650  divided into 305 350 325 shares, each having a face value of NOK 2.00.

Primary insider Phil Suter, VP Marketing and sales has exercised 127 000 options in the Company, corresponding to 127 000 shares at the strike price of NOK 2.50.

On November 26th 2012, the primary insider mentioned above transferred his rights to receive shares resulting from the exercise of options to a third party. The payment was determined based on a selling price of NOK 5.8071 per right.
 
Phil Suter has transferred 127 000 rights.
 
After exercising options, Phil Suter holds 304 000 unexercised options in the Company, corresponding to 304 000 shares at the strike price of NOK 2.50. In addition he holds 1 198 500 warrants corresponding to 1 198 500 shares at the subscription price of NOK 2.50 in the Company. As of today the primary insider holds 417 272 shares in the Company.



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

For further information, please contact:

Nina Midtlie, Group Financial Director          
Mobile: +47 98 20 63 78
E-mail: nina.midtlie@dolphingeo.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  
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).