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Distributed: Nov 13, 2008

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Oceanteam ASA (OSL:OPU) Oceanteam ASA today announced that Ruud van der Steeg joins the company as CFO, effective 3 November, 2008.

Ruud (46) has held several financial and operational positions since 1987, amongst which in the paper & packaging industry at Smurfit Kappa. He has worked for both private organisations and listed companies, in Holland, France and Norway. Ruud, who holds the Dutch nationality, moved back to Holland recently, and works at the Bergen and Amsterdam office of Oceanteam.

"We are very glad that Ruud is strengthening our team," said Haico Halbesma, CEO. "His international experience and his extensive financial and operational background will help us to further grow Oceanteam,"

Ruud said "I am delighted to join Oceanteam. It is a dynamic and ambitious company, which has enormous prospect to grow, because of the investments it has made in vessels, equipment, technology, research and professionals. These investments will come to fruition in 2009 and the years thereafter."He continues, "The Oil and Gas, Renewables and Power Interconnectors provide large opportunities."

Ruud will replace Ronald Moolenaar, who works with Oceanteam as interim CFO since April 2008. Ronald will stay with the Company until the end of 2008 to ensure a smooth transition.

About Oceanteam ASA Oceanteam (Oslo Stock Exchange: OPU) is an offshore services company focused on servicing, installation, trenching and IMR of Flexible Flowlines, Umbilicals and Power Cables. This includes the provision of subsea services, installation teams, fully operational spreads and time charters. Oceanteam has offices in Norway, United Kingdom, Germany, Mexico, Angola, Dubai and the Netherlands. The company's target markets are Oil & Gas, Offshore Renewables including associated Grid Networks and Power Interconnectors.

For more information: www.oceanteam.no

For further information about Oceanteam please contact: CEO Haico Halbesma +31.6.5140 9987 haico@oceanteam.no CFO Ruud van der Steeg +31.6.2345 7194 ruud.vandersteeg@oceanteam.nl

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/136936/R/1269379/280694.pdf

Oceanteam ASA

http://www.oceanteam.no

ISIN: NO0010317316

Stock Identifier: XOSL.OPU



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