Extraordinary General Meeting

In an Extraordinary General Meeting today in Fred. Olsen Production ASA, Mr. Ivar Brandvold was elected as a new Director of the Board. This was a supplementary election in connection with Mr. Per-Oscar Lund retiring as a Board Director before the expiry of his period of service, which is due to retirement by way of age from his position as Managing Director of First Olsen Ltd. In a subsequent Board Meeting Mr. Ivar Brandvold was elected as Chairman of the Board of Fred. Olsen Production ASA.

A copy of the protocol from the Extraordinary General Meeting is enclosed.