FRED. OLSEN PRODUCTION ASA - SUBSCRIPTION PRICE

Reference is made to previous announcement on the
contemplated increase in capital and stock listing
of Fred. Olsen Production ASA (FOP).

The Oslo Stock Exchange has today on customary
conditions approved FOP`s submission for listing.

On this background it is hereby advised that the
Board of FOP has resolved that the subscription
price shall be minimum NOK 25,50 and maximum NOK
28,-.

For full information see www.newsweb.noReference is made to previous announcement on the
contemplated increase in capital and stock listing
of Fred. Olsen Production ASA.

The Oslo Stock Exchange has today on customary
conditions approved Fred. Olsen Production ASA`s
submission for listing.

On this background it is hereby advised that the
Board of Fred. Olsen Production ASA has resolved
that the subscription price shall be minimum NOK
25,50 and maximum NOK 28,-.

The eventual quotation shall be determined
following a book building process and eventually
be determined following decision by the Board and
the Manager (ABG Sundal Collier), based on the
result of the book building process.

For further information, please contact the
Chairman of the Board of Fred. Olsen Production
ASA, Per-Oscar Lund, telephone.: 22 34 11 81 or
mobile 90 78 02 54