08/19/2013

Yinson Production Limited Extends the Acceptance Period for its Voluntary Offer NOT FOR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Dated: 19 August 2013

Reference is made to the offer document dated 4 July 2013 (the "Offer Document"), issued by Yinson Production Limited (the "Offeror"), relating to its voluntary tender offer (the "Offer") to acquire all outstanding shares (the "Shares") in Fred. Olsen Production ASA (the "Company" or "FOP"). As procured for under the terms and conditions of the Offer, the Offeror has extended the period within which the Offer can be accepted (the "Acceptance Period"). The Acceptance Period, as extended, will expire at 18:00 hours (CET) on 2 September 2013 (subject to further extension(s) on the terms and conditions on the Offer). This extension of the Acceptance Period has been approved by Oslo Børs in its capacity of being the Take-Over Authority of Norway. The other terms and conditions of the Offer will remain unchanged and as set out in the Offer Document. As of the date hereof, the Offeror has received acceptances for a total of 89,408,855 Shares (including the pre-acceptance by First Olsen Ltd), equalling 84.4% of the outstanding Shares in FOP. Completion of the Offer is subject to the fulfilment or waiver by the Offeror of the conditions to completion set out in the Offer Document.

The Offeror expects that the conditions to completion of the Offer will be met or waived, as applicable, no later than 5 September 2013. As of the date hereof, and with except to the condition of obtaining regulatory approval from the Central Bank of Malaysia which was obtained on 1 August 2013, none of the conditions that require any action in order to be fulfilled have been fulfilled, and none of the conditions that refers to events that shall not occur have, to the Offeror's knowledge, occurred. In the event that the Offeror has not announced that all conditions for completion of the Offer have been met or waived by 18:00 hours (CET) on 29 November 2013 (the "Drop-Dead Date"), the Offer will not be completed and shareholders who have tendered their Shares will be released from their acceptances of the Offer. The above extension of the Acceptance Period will not affect the Drop-Dead Date, which remains unchanged. Arctic Securities ASA act as Receiving Agent in respect of the Offer, and Financial Advisor to the Offeror. * * * * * *

The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. The Offeror does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

This information is subject to the disclosure requirements set out in section 6-19 of the Norwegian Securities Trading Act.

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