REGISTRATION OF SHARE CAPITAL INCREASE WITH THE NORWEGIAN REGISTRY OF BUSINESS ENTERPRISES

Reference is made to stock exchange announcement on 29 November where Armada Seismic ASA notified Dolphin that the convertible loan of USD inclusive accrued interest of about USD 6.3 million will be converted to shares. The loan was converted at a price of NOK 2.50 per share according to the terms and conditions set out in the convertible loan agreement and Dolphin will issue 13,705,457 new shares to Armada Seismic ASA.

Pursuant to this conversion notification, the share capital increase of NOK 27,410,914 has been registered today, 6 December 2011, in the Norwegian Registry of Business Enterprises. After the registration, the share capital of Dolphin Group ASA is NOK 486,778,324 divided into 243,389,162 shares each with a par value of NOK 2.00.   

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact:

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  
www.dolphingeo.com

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).