SOURCE: Golden Ocean Group

March 11, 2010 02:59 ET

GOGL - Mandatory Notification of Trade

HAMILTON, BERMUDA--(Marketwire - March 11, 2010) -



Press release from Golden Ocean Group Ltd. 11.03.2010

Hemen Holding Limited, a company indirectly controlled by trusts affiliated with John Fredriksen and his family, has settled a TRS agreement (Total Return Swap) underlying 1,423,001 shares in Golden Ocean Group Limited ("Golden Ocean") expiring March 10, 2010. Hemen Holding Limited has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is April 12, 2010, and the new TRS price is NOK 12,0565 per share. Hemen Holding Limited's affiliated ownership in Golden Ocean Group Limited is not influenced by the TRS agreements. Drew Investment, a company controlled by Tor Olav Trozim, has settled a TRS agreement underlying 800,000 shares in Golden Ocean expiring March 10, 2010. Drew Investment has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is April 12, 2010, and the new TRS price is NOK 12,0565 per share. Drew Investment and Tor Olav Trozims ownership in Golden Ocean is not influenced by the TRS agreements.

Hamilton, Bermuda

March 10, 2010.


This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Geir Karlsen (CFO), +47 23 11 40 00



[HUG#1392835]

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