Nexus Floating Production to Offer Shares at NOK 70

Nexus Floating Production reported increase of its share capital by 450,000 shares. Pending completion of a prospectus by the company and approval of the prospectus by Oslo Bors, the shares have not been issued in the VPS and consequently not been listed on Oslo Bors. Oslo Bors approved the prospectus on July 6, 2007.

Legal opinion with respect to the issue has been provided to Oslo Bors. The 450,000 new shares in Nexus are registered in the VPS and accordingly listed on Oslo Bors as from opening of trading today. The total number of outstanding shares in the company and the total number of listed shares after listing of the new shares are 19,049,700.

The 450,000 shares have been paid and subscribed for by First Securities ASA and according to an underwriting agreement with the company the shares shall be offered at an offering price of NOK 70 with preferential treatment for existing shareholders of the company as of June 18, 2007 that were not invited to participate in the private placement on June 15, 2007. The offer period lasts from July 9, 2007 till July 20, 2007 at 16:30 hours CET.

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