NOTICE OF EXTRAORDINARY GENERAL MEETING

The Board of Directors hereby gives notice of an extraordinary
general meeting in Oceanteam ASA  to be held on
                    Thursday 8 May 2009 at 13:00
The meeting will be held at Hotel Clarion Bergen Airport,
Flyplassveien 555, 5255 Bergen to discuss and resolve the following
matters:
1.     Opening of the meeting by the chairman of the Board, Mr Hessel
Halbesma - presentation of the votes present and election of a
minutes secretary
2.     Election of a chairman of the meeting. The board proposes that
the chairman of the board be elected
3.     Approval of the summons and the agenda
4.     Election of at least one person to sign the minutes together
with the chairman of the meeting
5.  Authority to the Board of Directors to issue convertible loans
 
            The purpose of granting the Board of Directors with an
Authority is to enable Oceanteam ASA to fulfill its obligation
towards bond holders in the Company and to make it possible for the
Company to raise capital in general. The Authority shall cover a
capital increase against non-cash contribution.
     The following resolution was proposed :
 
1.    The Board of Directors is granted an authority to raise one or
several convertible bond loans with a right for the creditors to
demand the issuance of shares against a cash contribution or against
a set off of the loan. The total amount of the convertible loans
issued in accordance to this authority is NOK 40 million.
 
2.       The share capital may be increased with up to NOK 40
million.
 
3.       The authority expires at the Company's Annual General
Meeting in 2010, and replaces previous granted authorities.
 
4.       The shareholder's preferential rights according to the
Public Limited Companies Act § 11-4, cf. § 10-4 may be waived.
 
Shareholders who cannot attend, but who wish to be represented at the
meeting, should use the attached form of Power of Attorney. Kindly
observe that pursuant to § 8 of the Corporation's articles,
shareholders wishing to attend in person or by appointment of an
attorney, must notify the Corporation hereof within 5 May 2009 at 4
pm, and may otherwise be excluded from attending the meeting. Notice
may be given by using the attached form or by telefax to no +47 5510
8249 or by email to cathrine@oceanteam.no. Powers of attorney must be
provided in writing, duly signed and dated.
                        Bergen, 24 April 2009
 
    For and on behalf of the Board of Directors of Oceanteam ASA
 
    Hessel Halbesma
    Chairman of the board of directors
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.