FRED. OLSEN PRODUCTION ASA TO BE LISTED ON OSLO BØRS

The Board of Oslo Børs resolved to admit shares in
Fred. Olsen Production ASA to listing on Oslo Børs.

Prior to the first day of listing the company must
satisfy the requirements for the number of holders
of one round lot or more of the company`s shares
set out in Section 2.4.2 of the Stock Exchange
Listing Rules. Admission to listing is also
conditional on the company having a board of
directors that satisfies the requirements of Oslo
Børs for the board`s independence from major
shareholders, the management and major business
connections of the company, and publishing a
prospectus approved by Oslo Børs.

If the requirement for the minimum number of
holders of one round lot or more is not satisfied,
the company will be admitted to listing on Oslo
Axess if the other conditions are satisfied.

The Board authorised the President of Oslo Børs to
decide whether the company should be listed on
Oslo Børs or Oslo Axess and to fix the date of the
first day of listing, which is to be no later than
8 June 2007.