With reference to the notice to Oslo Stock Exchange dated
30.12.2013 where Siem Offshore notified entry into
shipbuilding-contracts with Remontowa Shipbuilding S.A. in
Poland for four (4) dual fuelled Platform Supply Vessels
("PSVs") of VS 4411 DF design. Siem Offshore has today
cancelled PSV no 3 in the series due to delay in the delivery.
The Company is covered with Refund Guarantees from an
international bank for all pre-delivery installments made under