Deep Sea Supply Plc

Deep Sea Supply (OSL:DESSC) Deep Sea Supply has entered a 1 option 1 year charter contract for the Platform Supply Vessel "Sea Witch". The vessel is the 8th vessel delivered to Deep Sea Supply from Cochin Shipyard and delivery is expected on 10th December 2008. The vessel has been fixed to OMS in Australia at a daily bareboat rate of USD 23,000/day (equivalent to a time charter of approx. 29,000-30,000/day). The end user is BP. Commencement date under the charter is 2nd January 2009. All Deep Sea Supply's Platform Supply Vessels are on long term charters.

Deep Sea Supply (OSL:DESSC) * New TRS price is NOK 17,516 and not NOK 16,516 as stated in previous press release today.

Deep Sea Supply (OSL:DESSC) Hemen Holding Ltd has extended three different TRS agreements that expires September 15. The TRS agreements have exposure to 3,100,000 underlying shares in Deep Sea Supply. New expiry date is October 15, 2008, and new TRS price is NOK 16,516.

Deep Sea Supply (OSL:DESSC) Reference is made to the announcement of Q2 dividend made 27 August 2008. The Board has decided an ordinary dividend payment from profit of NOK 1,00/share.

Deep Sea Supply (OSL:DESSC) In August 2008 Deep Sea Supply`s AHTS fleet (all 9 AHTS Vessels larger than 12,000 BHP) had an average gross income of approximately USD 37,000 per ship per day compared to USD 36,370 in July.

Deep Sea Supply (OSL:DESSC) Deep Sea Supply's Operating Revenues, EBITDA and Net Result increased from 1st quarter to 2nd quarter and improved significantly compared to the same period in 2007. The Board has decided a dividend payment of NOK 1,00/share with ex-date 2nd September. Distribution to shareholders will be made 17th September.

Deep Sea Supply (OSL:DESSC) We are pleased to invite shareholders, investors, analysts and other interested parties to a presentation of our 1st half-year 2008 financials.

We are pleased to inform that Deep Sea Supply this morning took delivery of "Sea Turbot", a newbuilding PSV from Cochin Shipyard in India.