The increase of the share capital of the Company by the issuance of the 30,000,000 new shares issued in the subsequent offering has been registered with the Norwegian Register of Business Enterprises. The total registered share capital of the Company is NOK 105,213,996.40 consisting of 526,069,982 shares, each with par value of NOK 0.20. All shares in the Company carry equal rights. The new shares issued will be delivered to the subscribers through the Norwegian Securities Register (VPS) on August 21, 2009, provided duly payment has been received by the Joint Lead Managers.

Updated articles of association have been posted on www.sevanmarine.com.

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For information, please contact:

Jan Erik Tveteraas, CEO, Sevan Marine ASA (Media)
+47 37404000 office
+47 95214925 mobile

Birte Norheim, VP Finance, Sevan Marine ASA (Analysts)
+47 37404201 office
+47 95293321 mobile

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.

Sevan Marine ASA is listed on Oslo Børs (ticker SEVAN) and is specializing in building, owning and operating floating units for offshore applications. The Company has developed a cylinder shaped

floater, suitable in all offshore environments. Presently, Sevan Marine has four FPSO contracts, including the Goliat Sevan 1000 FPSO, and three drilling contracts with clients. The Company is also developing other application types for its cylindrical Sevan hull, including floating LNG production and power plants with CO2 capture. For more information, please refer to http://www.sevanmarine.com/.