NEWBUILDING CONTRACTS

Fred. Olsen Windcarrier AS, which is indirectly owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has today entered into agreements with Lamprell Energy Ltd. for the construction of two transport -and installation vessels for offshore wind turbines with option for additional two vessels. The vessels will be built at the Jebel Ali yard in Dubai with contracted deliveries in 2nd and 3rd quarter 2012, respectively. The contract price is about USD 160 million per vessel. For further information please contact Per-Oscar Lund, Chairman of the Board of Fred. Olsen Windcarrier AS, tlph. +47 2234 1181/9078 0254.