Oslo, Thursday, February 7, 2013
Stock Exchange Notification

As reported in the Issuers report for the 3rd quarter of 2012 and Stock Exchange Announcement dated 7 February 2013, the challenging macroeconomic conditions in parts of Europe continue. A lasting shift in the awarding of new contracts has had a negative impact on the company's results and liquidity situation, and has made additional compensatory measures necessary.

Against this background the Issuer requires the consent of the bondholders of bond loan ISIN NO 001064747.2 (the “2012 Bond”) and ISIN NO 001064285.3 (the “2011 Bond”) to waive certain conditions related to the share pledges and up-stream guarantee of Blom CGR S.p.A. Additionally, Blom has requested the bondholders to extend the maturity of the relevant Bonds such that no payments will fall due prior to 4 April 2013.

The summons to the Bondholder meeting, which includes further details on the proposed amendments, can be found at Bondholders representing more than 2/3 of the 2012 Bond and more than 50% in the 2011 Bond have undertaken to vote in favor of the proposal. According to the bond loan agreements, a 2/3 majority of the bonds represented at the Bondholders’ Meeting in the 2012 Bond, and a simple majority of the bonds represented at the Bondholders’ Meeting in the 2011 Bond is needed to obtain approval for the proposal.

For further information please contact CEO Dirk Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund, tel. +47 22 13 19 34.

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