Arrow Applies for Oslo Listing

Arrow Seismic ASA, a 54% owned subsidiary of GC Rieber Shipping ASA, has applied for listing of the company`s shares on the Oslo Stock Exchange. The application is expected to be considered at the meeting of the Board of Directors of the Oslo Stock Exchange on May 23, 2007. Arrow is planning for a share issue in connection with the listing. Further details will be published later.

Arrow develops, owns and operates advanced purpose-built vessels for the marine seismic industry. Arrow owns five vessels and has contracted four special-purpose high capacity seismic vessels for delivery in 2008/09. The company's registered business office is in Bergen, Norway.