SEVAN: Organizational change

Egil Kvannli has given notice of resignation from his position as CFO with Sevan Marine ASA, with effect from August 1, 2008. Birte Norheim will assume the position as Vice President Finance with responsibility for accounting, purchase, IT and investor relations. Birte Norheim has since 2005 held the position as Group Controller in Sevan Marine ASA. The Company will start the process of recruiting a Finance Director with responsibility for the financing and treasury functions.

.