Hitt og þetta 30. ágúst 2007

Mandatory Notification of Trade

Songa Offshore ASA has today increased its total return swap (TRS) with Carnegie Investment Bank AB Norway Branch. Reference is made to the 28 August 2007 press release. The TRS provides for cash settlement and with shares in Songa Offshore ASA as underlying security. The TRS has been increased by 61,200 shares, from 2,409,165 shares to 2,470,365 shares. The agreed initial reference price under the TRS for the new tranche is NOK 53.5803 per share and the swap expires on 21 December 2007. Songa Offshore ASA holds no other rights or interests in its own shares. Oslo, 2007-08-29