Oslo, Wednesday, March 21, 2012
Stock Exchange Notification
Prolonged maturity of Blom's MNOK 50 bond

As announced in the stock exchange notices on February 27th 2012, February 29th 2012 and March 9th 2012 Blom has for some time been in dialogue with a majority of the bondholders regarding a process to strengthen the capital structure of the company by increasing the equity ratio. The bondholders are prepared to participate in this process, in order to re-establish a sound balance sheet and secure sufficient liquidity for the company to follow its normal business plans. The main objective with the proposed amendment, which will prolong the maturity of Blom's MNOK 50 bond with two months, is to provide time to conclude on the on-going restructuring discussion.

The summons to the Bondholder meeting, which includes further details on the proposed solution, can be found at Bondholders representing more than 2/3 of the existing bond loan have undertaken to vote in favor of the solution. According to the bond loan agreement, 2/3 is sufficient to approve the proposed solution.

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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