Compulsory acquisition - approval of guarantee

Oslo Børs, in capacity as take-over supervisory authority, has approved payment guarantee pursuant to the Securities Trading Act section 6-22 3rd sub- section no. 3 in connection with compulsory acquisition ("squeeze-out") without preceding mandatory offer. In this respect, Oslo Børs has also considered the other relevant conditions applicable for the exemption to present a mandatory offer pursuant to the Securities Trading Act section 6-22 3rd sub-section.

Yinson Production Limited has resolved to effect compulsory acquisition of the shares in Fred. Olsen Production ASA not already held by Yinson Production Limited pursuant to the Public Limited Liability Companies Act section 4-25.

The price offered under the compulsory acquisition is NOK 9.40 per share, which would have been the minimum offer price for a mandatory offer from Yinson Production Limited to the shareholders in Fred. Olsen Production ASA.

Attached is a copy of the guarantee document issued by DNB Bank ASA for the benefit of those that are subject to the compulsory acquisition. The guarantee document includes amongst others, information on the deadline for presenting claims under the guarantee, the address for delivery of claims and the documentation that must be submitted.

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