FOP ASA - Final Accounts 2007

FOP ASA - Final Accounts 2007

The Board of Fred. Olsen Production ASA has today 26 March 2008 approved
the final accounts for 2007 for Fred. Olsen Production consolidated and
the parent company Fred. Olsen Production ASA. The final accounts
include bonus adjustment of USD 255,950 compared to the preliminary
annual accounts, released on 12 February 2008. The net loss after tax
for 2007 is after this adjustment USD 3,320,000; compared to a net loss
after tax of USD 3,064,000 in the preliminary annual accounts.

A brief overview of the 2007 final accounts vs. the preliminary annual
accounts is enclosed. The annual report for 2007 will be sent to the
shareholders prior to the Annual General Meeting on 28 May 2008.


Oslo, 26th March 2008