BW Offshore: Share capital increase

In connection with the purchase of all rights and obligations to purchase the FPSO Whakaaropai from Shell Todd, as notified in a statement to the Oslo Stock Exchange on 2 May, 2006, Bergesen Worldwide Ltd issued on 16 May 6,118,421 new shares in the company to Spencer Energy.
Following this increase in share capital, Bergesen Worldwide Ltd`s issued share capital is USD 2,050,657.89 consisting of 205,065,789 shares each with a par value of USD 0.01.