Aqualis Offshore Holding ASA

Successful listing on Oslo Børs

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Oslo, 13 August 2014

Aqualis Offshore Holding ASA ("New Aqualis", together with its subsidiaries the "New Aqualis Group") is pleased to announce its successful listing on Oslo Børs with the commencement of trading in AQUA shares today.

The New Aqualis Group consists of three business units with largely similar service offerings and business models; Aqualis Offshore Ltd and its subsidiaries ("Aqualis Offshore Group"), Tristein AS ("Tristein") and Offshore Wind Consultants Ltd ("OWC"). The services provided by the three business units can generally be divided into marine & engineering consultancy services.

Targeting the offshore oil & gas industry and the offshore renewables industry,
the New Aqualis Group's strategy is to operate through a growing network of global offices. The group's multi-disciplinary marine & engineering consultancy teams are recognized in the industry for their competence and experience, and works closely with clients to understand their requirements, identify solutions and to execute their projects and marine operations in a timely, cost effective and safe manner.  The New Aqualis Group is operating globally from the following locations; Norway, USA, Mexico, Brazil, UK, Saudi Arabia, UAE, Bahrain, Singapore and China.

Aqualis Offshore Holding ASA's name change to Aqualis ASA is expected to be registered in the Norwegian Register of Business Enterprises subsequent to Aqualis ASA's name change to Weifa ASA, expected on or about 20 August 2014.

The executive management team of the New Aqualis Group consists of the following:

David Wells, CEO
David Wells is a Master Mariner and has more than 30 years of experience in the offshore sector with particular focus on offshore operations, MWS and marine consultancy. He is a specialist on jack-up operations, location approvals and all aspects of rig moving.

Christian Opsahl, CFO        
Mr. Opsahl has been the CFO of Aqualis ASA since November 2013, and has extensive international finance, investment banking and private equity experience within the global financial markets, together with industrial experience from companies servicing the offshore oil & gas markets.

Dr. Bader Diab, Director of Engineering and North America
Dr. Diab is a structural and global performance engineer. He has 25 years offshore engineering global experience covering both shallow and deep water sectors with extensive structural design experience of MODUs, mooring systems, motions, installation engineering and familiarity with shipyards.