SUCCESSFUL COMPLETION OF SUBSEQUENT OFFERING

Oslo, Norway, 01 December 2011 - Dolphin Group ASA (OSE:DOLP)

Reference is made to stock exchange notice and prospectus dated 18 November 2011 (the "Prospectus") concerning the Subsequent Offering of up to 7,666,667 Offer Shares at an Offer Price of NOK 3.00 per Offer Share.

The Subsequent Offering ended Wednesday 30 November 2011, at 17:30 (CET). A total of 6,628,999 Offer Shares were subscribed for. Dolphin Group will issue these shares at NOK 3.00 raising gross proceeds of about NOK 20 million.

All subscribers being allotted offer shares will receive a letter confirming the number of offer shares allotted to the subscriber and the corresponding amount to be paid. This letter will be distributed shortly.

Payment of the shares will fall due on 7 December 2011 and delivery will take place on or about 12 December 2011. Following registration of the shares the total number of issued shares will increase by 6,628,999 to 250,018,161.

The offering is managed by SEB Enskilda, Pareto Securities and First Securities.

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

For further information; please contact:

Erik Hokholt, CFO
Mobile:+47 90 75 60 64
E-mail:erik.hokholt@dolphingeo.com

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

Tel:+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).