Reference is made to Yinson Production Limited (Yinson) announcing today that all conditions for completion of theirvoluntary tender offer to acquire all outstanding shares in Fred. Olsen Production ASA (FOP) have been met or waived.

As previously announced First Olsen Ltd, which is owned 50/50 by Bonheur ASA and Ganger Rolf ASAand the majority shareholder of FOP, hason certain conditions granted Yinsonan irrevocable pre-acceptance for the sale of its 65 191 200 shares, representing 61.54% of the total issued shares and votes of FOP.

Consequent on the aforesaid Yinson's offer will now proceed towardssettlementtotake place as soon as reasonably possible butno later than three weeks from the date of this notice.

distributed by