EXTRAORDINARY GENERAL MEETING AUTHORISES BOARD OF DIRECTORS TO PAY DIVIDENDS

Today, the extraordinary general meeting in Ocean Yield ASA ("Ocean Yield" or the "Company") approved an authorization to the Board of Directors to pay additional dividends based on the annual accounts of 2012. The authorization is valid until the next Annual General Meeting in 2014.

The Board of Directors of Ocean Yield is thereby in a position to resolve and declare dividends for the financial quarters up until the next ordinary general meeting in April 2014. Such dividends will be decided by the Board of Directors and announced in connection with the approval of the Company's quarterly financial accounts going forward.

CEO of Ocean Yield ASA, Lars Solbakken said in a comment: " This authorisation puts the Company in a position to start paying the first quarterly dividend already in December 2013, which is in line with our strategy to pay attractive and growing dividends to our shareholders"

Minutes from the general meeting is attached.

For further information, please contact: Lars Solbakken, CEO of Ocean Yield ASA Phone: +47 24 13 01 90 E-mail: lars.solbakken@oceanyield.no

Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91 E-mail: eirik.eide@oceanyield.no

About Ocean Yield:

Ocean Yield is a ship owning company with investments within oil-service and industrial shipping. The company focuses on modern assets with long-term charters to solid counterparties. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive and growing dividends to its shareholders.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.