GC Rieber Shipping - Extension to current contract

Reference is made to stock exchange notice 6 March 2017.

GC Rieber Shipping has agreed an extension of the firm period, securing the Polar Onyx commitment until the end of August 2017.

For further information:

Einar Ytredal, CEO (act.), GC Rieber Shipping, phone: +47 975 20 184

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic. The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates and has direct and indirect ownership in 11 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com .

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.