SUCCESSFUL COMPLETION OF SUBSEQUENT OFFERING AND EMPLOYEE OFFERING

Oslo, Norway, 13 April 2012 - Dolphin Group ASA (OSE:DOLP)

Reference is made to the prospectus dated 23 March 2012 (the "Prospectus") concerning the Subsequent Offering of up to 3,000,000 Offer Shares at an Offer Price of NOK 4.60 per Offer Share and the Employee Offering of up to 200,000 Offer Shares at an Offer Price of NOK 4.60 per Offer Share.

The Subsequent Offering and the Employee Offering ended 12 March 2012, at 17:30 (CET) and were oversubscribed. As a result, Dolphin Group will issue 3,200,000 new shares at NOK 4.60 per share raising gross proceeds of NOK 14.7 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 20 April 2012 and delivery will take place on or about 24 April 2012. Following registration of the shares the total number of issued shares will increase by 3,200,000 to 304,545,992.

The offering is managed by SEB Enskilda and DNB Markets.

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).