Scorpion's Order for Sinvest Shares Lapses

On Friday October 13, 2006, Pareto Securities ASA announced the receipt of a conditional order from Scorpion Offshore Ltd. for the purchase of more than 50%, minimum 44%, of the outstanding shares in Sinvest ASA.

The conditional order lapsed today, October 16, 2006, at 08:30 am (CET). The minimum threshold level was not met, and no transaction was consummated.

Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.

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