Dolphin Group ASA Announces Approval of Prospectus and Listing of New Shares

Dolphin Group ASA announced that on March 23, 2012, the Financial Supervisory Authority of Norway (Finanstilsynet) has approved the prospectus regarding the listing on Oslo Bors of 50,000,000 new shares in Dolphin Group ASA issued in connection with a private placement of shares completed on March 6, 2012 at a subscription price per share of NOK 4.60, the Subsequent Offering of up to 3,000,000 Offer Shares at an Offer Price of NOK 4.60 per Offer Share with preferential rights for Eligible Shareholders as of March 6, 2012 that were not offered to subscribe in the Private Placement and the Employee Offering of up to 200,000 Offer Shares at an Offer Price of NOK 4.60 per Offer Share directed towards employees of Dolphin Group ASA. The Subscription Period for the Subsequent Offering and the Employee Offering will be from March 29, 2012 to April 12, 2012 at 17:30 Central European Time (CET), both dates inclusive. Preferential rights not used to subscribe for Offer Shares before the expiration of the Subscription Period will be of no value and will lapse without compensation to the holder.