Jacobsen Leaving Frigstad for Fearnley

Frigstad Discoverer Invest Ltd. announced that its chief financial officer, Bjorn C. Jacobsen, has accepted a position in Houston with Fearnley Offshore and is leaving the company effective July 31, 2007.

Harald Frigstad, CEO of Frigstad Discoverer Invest, said that he wishes Jacobsen all the best in his new position and that the process of finding a new CFO has begun. Jacobsen's successor will be based in Singapore, along with the CEO and Frigstad Discoverer's management team.

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