The Issuer and the Bond Trustee and certain of its bondholders have after the restructuring which was carried out during this spring been in a constructive dialogue to find a more long-term solution to the debt structure. The dialog includes e.g. extension of the maturity of the bonds and refinement of the covenant structure its bond loan "FRN Blom ASA Senior Secured Bond Issue 2009/2012". The parties together aim to work out a long-term solution which meets their joint needs. In order to secure sufficient time to work out a viable, long term debt amortization schedule that fits the medium and long term operating cash flow and market conditions, it is proposed to prolong the waiver from the Bond Agreement Clause 13.5.2 and Clause 13.5.3, so that no Event of Default may be declared due to breach of these Clauses for the period from the date of the Bondholders' Meeting to 18 November 2011. The summons to the Bondholder meeting, which includes further details on the proposed solution, can be found at www.stamdata.no. Bondholders representing more than 50% of the existing bond loan have undertaken to vote in favour of the solution. According to the bond loan agreement, majority is sufficient to approve the proposed solution. This information is subject to the disclosure requirements according to Section 5-12 of the Securities Trading Act. For further information please contact CEO Dirk Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund, tel. +47 22 13 19 34.