Subsequent offering - subscription period ends today

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR  INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,  AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH  THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER  RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT  NOTICE IN THE PROSPECTUS

Oslo, Norway, 21 January 201 - Dolphin Group ASA (OSE:DOLP)

Reference is made to the announcement dated 13 December 2010 and the prospectus dated 5 January 2011 (the "Prospectus") concerning the subsequent offering of up to 4,824,000 shares in Dolphin Group ASA at a subscription price of NOK 2.50.

The subscription period for the subsequent offering will end today, 21 January 2011, at 17.30 CET.

The Prospectus and the application form for the subsequent offering is available at the Company's website www.dolphinics.com and at the websites of the managers, SEB Enskilda (www.sebenskilda.no) and First Securities (www.first.no).

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
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