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

The share capital increase following the private placement approved at the extraordinary general meeting on 20 December has been registered today, 22 December 2010, in the Norwegian Registry of Business Enterprises. After the private placement, the share capital of Dolphin Group ASA is NOK 319,719,410, divided into 159,859,705 shares each with a par value of NOK 2.00.

The new shares subscribed and paid for in the private placement will preliminary be registered in the Norwegian Central Securities Depository (VPS) under a separate ISIN number that is none tradable on Oslo Børs. Following the publication of a prospectus for the private placement, expected on or about 4 January 2011, the shares will be transferred to the ordinary ISIN for the company and the shares will be tradable on Oslo Børs from such time.

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

For further information, please contact:

Ketil Sundal, CFO
Tel:+47 23 16 70 02         
Mob:+47 95 92 21 04
E-mail:ketil@dolphinics.com


Dolphin Group ASA
Olaf Helsetsvei 6
0619 OSLO

Tlf:+47 23 16 70 00
Fax:+47 23 16 71 80         
www.dolphinics.com