Share option program approved

The Board of Directors of Dolphin Group ASA has approved a share option program for new employees in Dolphin. During 2011 Dolphin has expanded its marine seismic activities rapidly. Several key positions have been filled during the year and the company wants to align their incentives with the shareholders of the company. Thus the board has approved a new share option plan where the company will issue up to 3,570,000 new options in the company. One option will give the right to subscribe for one share at a share price of NOK 3.00 per share. Only key employees hired during 2011 that have not previously been granted options in Dolphin will be included in the program, thus no primary insiders will be allocated options in the program.

The options are vested in three tranches where the first tranche vests in February 2013, the second tranche in February 2014 and the third tranche in February 2015. The share option plan has incorporated several performance targets as part of the vesting criteria's.

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).