ANNUAL GENERAL MEETING

The Annual General Meeting (AGM) of Fred. Olsen Production ASA was held today, Wednesday 27 May 2009. All proposals on the agenda were adopted in accordance with the agenda for the Annual General Meeting which was sent to Oslo Stock Exchange on 8 May 2009. The AGM of Fred. Olsen Production ASA has today approved the financial statements and annual report of Fred. Olsen Production ASA and the Group for 2008. Please find enclosed protocol and presentation from the AGM.