Mr. Bjørn Olafsson has with effect from today been appointed as Deputy Chief Executive Officer and member of the corporate management team in TTS Group ASA ('TTS').

In a period of challenging changes, TTS sees the necessity to strengthen the Group Corporate management team, and at the same time give room for the Group's CEO to focus further on heavy operative tasks.

Mr. Olafsson will be responsible for Group Finance, IR/Communications and IT. Mr. Olafsson is today self-employed. He has extensive experience from different board- and management positions within banking/ insurance, international- and oil & gas industries.

Mr. Olafsson serves as Chairman of TTS' nomination committee. The board of TTS Group has announced that he will step down from the nomination committee with immediate effect.

Bergen, 27 October 2015

TTS Group ASA
Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01
http://www.ttsgroup.com

Contact persons:
Björn Andersson
CEO
M: +47 911 33 671

Henrik Solberg-Johansen
CFO
M: +47 982 06 438

Miao Reinlund
SVP Corporate Communications
M: +47 900 65 883

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