SFL - Ship Finance International Limited Announces Proposed Offering of Convertible Senior Notes - Seite 2

Morgan Stanley & Co. LLC, Jefferies LLC and Citigroup Global Markets Inc. will act as underwriters for the offering of the Notes. Seaport Global Securities LLC, BTIG LLC, ABN AMRO and ING Financial Markets LLC will act as co-managers.

The offering of the Notes and the offering of the Company's common shares will be made by means of separate prospectus supplements to the prospectus forming a part of the Company's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on September 26, 2016 and other related documents. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplements may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2^nd Floor, New York, New York 10014, Attention: Prospectus Department; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY, 10022, by email at [e-mail] or by phone at [phone], or Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at [phone]. Before you invest, you should read the prospectus supplements and accompanying base prospectus along with other documents that the Company has filed with the SEC for more complete information about the Company and these offerings.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, the Company's common shares or any other securities, nor will there be any sale of convertible notes, the Company's common shares or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

April 18, 2018

The Board of Directors

Ship Finance International Limited

Hamilton, Bermuda

Investor and Analyst Contact:

Harald Gurvin, Chief Financial Officer: [phone]

André Reppen, Senior Vice President: [phone]

Media Contact:

Ole B. Hjertaker, Chief Executive Officer: [phone]

About Ship Finance

Ship Finance International Limited (NYSE: SFL) has a unique track record in the maritime industry, being consistently profitable and paying dividends every quarter since 2004. The Company's fleet of more than 80 vessels is split between tankers, bulkers, container vessels and offshore assets, and Ship Finance's long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time.