SOURCE: Golden Ocean Group

September 09, 2008 02:57 ET

GOGL - Mandatory Notification of Trade

HAMILTON, BERMUDA--(Marketwire - September 9, 2008) -


Geir Karlsen (CFO of Golden Ocean Management AS) has exercised share options to acquire a total of 250,000 shares in the Company. The strike price for the share options are NOK 0.92 per share. He has sold the shares and simultanously financed and acquired TRS agreements with exposure to 175,000 shares in the Company. The TRS agreements expires December 1, 2008 based on a price of NOK 23.05. Geir Karlsen's ownership in Golden Ocean is following these transactions 125,000 shares. In addition comes the TRS agreements.

Total shares outstanding in Golden Ocean Group Limited following the issue of new shares will be 276,990,107.

Hamilton, Bermuda
September 9, 2008


Geir Karlsen
CFO
+47 23 11 40 00


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