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Odfjell Drilling Ltd: Approved prospectus

16.09.2013

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Bermuda 16 September. Reference is made to the stock exchange announcement on 13 September 2013, regarding the initial public offering (the "Offering") of the shares in Odfjell Drilling Ltd ("Odfjell Drilling", the "Company", OSE ticker: "ODL") and the transaction details of the Offering. The Financial Supervisory Authority of Norway has approved the prospectus dated 13 September 2013 that has been prepared in connection with the Offering and the listing of the Company's shares on the Oslo Stock Exchange under the symbol "ODL".

The prospectus will, subject to regulatory restrictions in certain jurisdictions, be available at www.odfjelldrilling.com,www.abgsc.com, www.dnb.no/emisjoner, www.arcticsec.no, www.danskebank.no/emisjoner and www.swedbank.no from the commencement of the book-building period and the application period for the Offering today, 16 September 2013 at 09:00 hours (CET). Hard copies of the Prospectus may also be obtained free of charge from the same date by contacting the Company or one of the Managers.

ABG Sundal Collier Norge ASA, DNB Markets (a part of DNB Bank ASA) and Goldman Sachs International are acting as Joint Global Co-ordinators and Joint Bookrunners in the Offering, and Arctic Securities, Danske Bank Markets and Swedbank First Securities are acting as Co-Lead Managers in the Offering.

For further queries, please contact:
Gisle Johanson, SVP Communications, Odfjell Drilling
+47 414 40 050
gijo@odfjelldrilling.com

DISCLAIMERS
This announcement is not and does not form a part of any offer for sale of securities.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.
Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
In any EEA Member State other than Norway that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.