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DELIVERY OF NEWBUILDING

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Clune Pte. Ltd. ("Clune"), which is owned by First Olsen Ltd., which again is owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has today taken delivery of a newbuilding, a suezmax tanker, from Bohai Shipbuilding Industry in China. The newbuilding is previously sold on to Nordic American Tanker Shipping Ltd. ("NAT") under a Memorandum of Agreement dated 2 November 2007. Clune has today issued a Notice of Readiness to NAT and consequently NAT will have three banking days to take delivery.

 For further information please contact Managing Director Per-Oscar Lund, tel. +47 9078 0254.