Oslo, 26 November 2015 - Reference is made to the Q3 2015 report of American Shipping Company ASA ('AMSC' or the 'Company'), regarding the signing of loan agreements for a total of MUSD 450 to refinance its secured vessel debt. Yesterday the refinancing was successfully closed and funded on terms as previously described in the Company's Q3 2015 report.
The refinancing is structured in two separate facilities; one being a MUSD 300 facility secured by eight vessels with a syndicate of three banks consisting of BNP Paribas, SEB and Credit Agricole and the other a MUSD 150 facility secured by two vessels with CIT Maritime Finance as Sole Arranger and CIT Bank, N.A., Prudential Capital Group and AloStar Bank of Commerce as lenders.

The refinancing was completed at attractive terms and provides further support for AMSC's strong dividend capacity. As communicated in the Q3 2015 report, AMSC expects dividends to increase approximately 15% year on year from 2015 to 2016.

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

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