Share capital increase

Oslo, Norway, 31 January 2011 - Dolphin Group ASA (OSE:DOLP)

Reference is made to the stock exchange announcement dated 24 January 2011 concerning the successful completion of the subsequent offering.

The company has received confirmation that the share capital increase of NOK 9,648,000 today has been registered by the Register of Business Enterprises (Foretaksregisteret). The new registered share capital of Dolphin Group ASA is NOK 329,367,410 divided into 164,683,705 shares, each with a par value of NOK 2.

The new shares will be delivered to the individual subscribers' VPS account on 1 February 2011.

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

For further information, please contact:

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

Dolphin Group ASA
Olaf Helsetsvei 6
0619 OSLO

Phone:+47 23 16 70 00
Fax:+47 23 16 71 80         

www.dolphinics.com

www.dolphingeo.com