As previously announced, Oceanteam has successfully concluded the divestment of
its shipping assets that were active in the oil & gas segment.
 
The first half year results reflect this divestment and include costs associated
with it, such as full repayment of bank loans costs, costs of the internal
reorganization and other related expenditure.  
  
Revenue from the remaining Solutions activities has significantly improved which
together with the exit from Shipping leaves the company in a stronger position
with significantly reduced liabilities and a cash position that will facilitate
careful review of strategic opportunities in the growing renewable energy
industry. 


About Oceanteam

Oceanteam is an independent offshore cable-solutions provider. With a large
asset-base of carousels, loading towers, tensioners and other ancillary
equipment as well as a large team of competent cable handling crew, the company
supports the marine cable industry with a variety of services such as short- and
long-haul cable transport, cable storage, cable logistics and cable handling
solutions on a global basis. Oceanteam's deepwater base in Velsen, the
Netherlands, is a strategically placed cable-hub where the company conducts
mobilisation and demobilisation activities, provides long- and short-term cable
storage capacity and facilitates the offshore renewables sector with integrated
cable handling solutions. Oceanteam is Lloyd's ISO certified.

For further information about Oceanteam ASA please visit www.oceanteam.no or
contact:

Henk Hazenoot
Interim CEO
Oceanteam ASA
Telephone +31 20 535 75 70
E-mail: henk@oceanteam.nl