Kistefos Comments on Trico Marine Services Annual Meeting

Preliminary Voting Results Show An Overwhelming Majority of Stockholders Want
Change At Trico
OSLO--(Business Wire)--
Kistefos AS, the largest stockholder of Trico Marine Services, Inc. (NASDAQ:
TRMA), announced today that it had received overwhelming stockholder support for
its proposed Board of Director nominees and corporate governance proposals at
Trico`s Annual Meeting of Stockholders. The preliminary results show that:

* Kistefos Chairman Christen Sveaas received approximately 75 percent of the
votes cast for his election to the company`s Board, and approximately two
million more votes than incumbent Trico Chairman and CEO Joseph Compofelice.
* Over five million shares, or approximately 40 percent of the votes cast,
withheld support for Mr. Compofelice, who also failed to receive affirmative
support from a majority of the outstanding stock.
* Kistefos CEO Age Korsvold received approximately 52 percent of the votes cast
in support of his nomination to the company`s Board.
* At least three of the four proposals submitted by Kistefos to strengthen
Trico's corporate governance standard received more than 50 percent of the votes
cast.
* Kistefos` proposal to declassify Trico's Board of Directors, meaning any Board
nominees who are up for election in future years will be eligible for a one-year
term instead of the current three-year term, was passed by Trico's stockholders
and will be subject to adoption by the Board.

Kistefos believes that, given the complexity of the contest, these results
represent overwhelming stockholder support for change.

Kistefos noted, however, that because Trico`s certificate of incorporation and
bylaws require many of the stockholder proposals to receive support from more
than two-thirds of the shares outstanding, not just the vote cast, it appears
that stockholder voices will not be heard. Kistefos also said it was concerned
that some of management's support apparently came from stockholders
participation in Trico's recent highly dilutive debt exchange. Kistefos said
that the final results of the vote could not be disclosed until the proxies were
reviewed and certified by IVS Associates Inc., the independent Inspector of
Elections. The results will be announced after IVS completes its review.

"I would like to thank our fellow stockholders for their strong support of our
common goal of restoring value and investor confidence in Trico," said Christen
Sveaas, Chairman of Kistefos. "Regardless of the outcome, we believe that
Trico`s stockholders have sent a loud and clear message today: They are
demanding change. Had it not been for Trico`s unusually high two-thirds minimum
vote requirement, we would have taken a significant step in that direction
today. We urge the Board to take immediate steps to improve corporate governance
policies and accountability at Trico to heed the message of change delivered by
their stockholders today. Throughout this campaign, management continually
attempted to distract stockholders with legal diversions and personal attacks
instead of acknowledging accountability for the company`s performance and
proposing a strategy to reverse that trend. We will continue to encourage the
Trico Board to make positive changes to maximize stockholder value and bring
good corporate governance and accountability to the company."

About Kistefos AS

Kistefos AS is a private investment firm focused on making investments in
medium-sized companies. Kistefos typically invests in turnaround opportunities
and businesses that experience industry consolidation. Kistefos has holdings in
dry cargo-shipping, offshore services and financial services, as well as
technology-founded investments and real estate development. Kistefos AS was
founded in 1979 and is based in Oslo, Norway.

Media:
The Abernathy MacGregor Group
Tom Johnson/Chuck Burgess/Mike Pascale
212-371-5999
or
Investor:
Okapi Partners LLC
Bruce H Goldfarb/Steve Balet/Pat McHugh
212-297-0720

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