Profile: Ship Finance International Limited (SFL)

Ship Finance International Limited (Ship Finance), incorporated on October 10, 2003, is an international ship owning company. The Company is engaged primarily in the ownership and operation of vessels and offshore related assets. The Company is also involved in the charter, purchase and sale of assets. Ship Finance operates through subsidiaries and partnerships located in Bermuda, Cyprus, Malta, Liberia, Norway, Delaware, Singapore, the United Kingdom and the Marshall Islands. As of December 31 2008, the Company owned 27 very large crude oil carriers (VLCCs), six Suezmax crude oil carriers, eight oil/bulk/ore carriers (OBOs), one Panamax drybulk carrier, eight container vessels, two jack-up drilling rigs, three ultra-deepwater drilling units, six offshore supply vessels and two chemical tankers.

Ship Finance’s customers include Frontline, Horizon Lines Inc., Golden Ocean, Seadrill, Taiwan Maritime Transportation Co. Ltd., Bryggen Shipping & Trading AS (Bryggen), Heung-A Shipping Co. Ltd., Deep Sea and Compania Sud Americana de Vapores. In March 2008, the Company entered into an agreement to acquire two building chemical tankers from Bryggen. The vessels Maria Victoria V and SC Guangzhou were delivered, in April 2008 and October 2008, respectively. In May 2008, the Company entered into an agreement to acquire the newbuilding ultra-deepwater drillship West Polaris from a subsidiary of Seadrill. The vessel was delivered in July 2008. In September 2008, it entered into an agreement to acquire two ultra-deepwater semi-submersible drilling rigs from subsidiaries of Seadrill. The rigs West Hercules and West Taurus were both delivered in November 2008.