ANNOUNCEMENT OF RESULT AND FINANCIAL CALENDER

Announcement of 4th quarter 2005 and preliminary
accounts for 2005

In connection with 4th quarter 2005 earnings
announcement and preliminary accounts for 2005,
Fred. Olsen Energy ASA will host a media- and
analyst conference on Thursday 9th February
09.00 a.m. The presentation will be held at the
Company`s office in Fred. Olsensgt. 2, Oslo.
Please register to Sølvi van Spronsen, telephone
+ 47 22 34 12 43 or by e-mail svs@fredolsen.no.

Financial calendar for 2006:
1 quarter 2006 - 28 April 2006
2 quarter 2006 - 18 July 2006
3 quarter 2006 - 25 October 2006

Oslo 31.01.2006
Fred. Olsen Energy ASA