Nexus Floating Production Completes Share Offer

Reference is made to previous stock exchange notices from Nexus Floating Production Ltd. (Nexus) regarding the public offering of 450,000 shares in Nexus.

The application period ended on July 20, 2007 as scheduled and the offering was oversubscribed. The allocation has now been carried out and each investor will receive a notification regarding the allocation.

The following allocations were made to primary insiders:

Arild Bardsen, the CFO of Nexus, was allocated 3,800 shares in the offering. After the offering he directly or indirectly owns 14,200 shares in Nexus in addition to 60,000 share options.

Johan Beek, hired by Nexus as an independent consultant, was allocated 100 shares in the offering. After the offering he directly or indirectly owns 1,100 shares in Nexus.

Bjorn Reang, project manager hired by Nexus from APL according to the Management Agreements, was allocated 1,100 shares in the offering. After the offering he directly or indirectly owns 2,800 shares in Nexus.

As described in the announcement on July 9, 2007, the 450,000 shares in the public offering were paid and subscribed by First Securities ASA according to an underwriting agreement prior to the public offering. No further shares have been issued in connection with the transaction. The total number of outstanding shares in Nexus and the total number of listed shares are 19,049,700.

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