(Bermuda, 29 February 2008) Carl Krogh Arnet, President Business Development of BW Offshore Limited ("BWO"), has today bought 5,600,000 shares in BWO at NOK 18.30. Following this transaction, Mr. Arnet holds 5,600,000 shares in BWO.
Kolbjørn Invest AS has today sold 5,600,000 shares in BWO at NOK 18.30. Following this transaction, Kolbjørn Invest AS holds 0 shares in BWO. Kolbjørn Invest AS is controlled by Carl Krogh Arnet.
Mr. Arnet's total investment in BWO is unchanged after these transactions.