01/25/2012

POSSIBLE BOND ISSUE

The Boards of Directors of Bonheur ASA and Ganger Rolf ASA contemplate issuing unsecured bonds in the Norwegian market, of which Bonheur ASA will be the issuer and Ganger Rolf ASA the guarantor. 

Net proceeds from the contemplated bond issue will be used for general corporate purposes. DnB Markets and Swedbank First Securities will be managers of the new issue.

 For further information, please contact: Jan Peter Valheim - CFO, Fred. Olsen & Co. Telephone + 47 22 34 10 06