Ocean HeavyLift ASA (OSL:OHL) FINANCIAL ADVISOR

Ocean HeavyLift ASA (OSL:OHL) The board of Ocean HeavyLift ASA (OHL) has today decided to engage Pareto Securities AS as its financial advisor in connection with the mandatory offer to be put forward by Spencer Energy AS pursuant to the securities trading act § 6-1 as announced on 5 September 2008.

Oslo, 19 September 2008 Ocean HeavyLift ASA

For further information, please contact:

Erik Gløersen Chairman of the Board Mob: +47 916 67 480 erik.gloersen@online.no

OCEAN HEAVYLIFT ASA (OHL) is a Norwegian oil service company owning vessels suitable for dry transportation of offshore drilling rigs and offshore modules. The company is the second largest heavy lift vessel owner in the world. Presently OHL owns three semi-submersible heavy lift vessels, and will have four vessels in operation when the last vessel under conversion by Songa Ancora Pte Ltd is delivered. OHL was established in 2005 and listed on the Oslo Stock Exchange in May 2007. The company currently has a market capitalisation of NOK 1.4 billion.

Ocean HeavyLift ASA

http://www.oceanheavylift.no/

ISIN: NO0010290786

Stock Identifier: XOSL.OHL