Heads of Agreement signed on sale of Oceanteam ASA 60pct share inOceanteam Subsea Services Ltd.

Oceanteam ASA  ("Oceanteam" or  the "Company")  has signed  Heads  of
Agreement with a company in the  subsea industry for the sale of  its
60pct share in Oceanteam Subsea Services Ltd, Aberdeen.
 
The commercial terms between the parties remain confidential and
completion of the transaction is subject to due diligence,
finalisation of the sale and purchase agreement and board approvals.
The sale is expected to be completed within the next few weeks.
Further information will be released upon completion.
The transaction  is  expected  to  have  a  positive  net  effect  on
Oceanteam's liquidity.
 
For more information:   www.oceanteam.no
 
For further information about Oceanteam please contact:
CEO     Haico Halbesma           +31.6.51409987  haico@oceanteam.nl
CFO         Ruud     van      der     Steeg           +31.6.23457194
ruud.vandersteeg@oceanteam.nl
 
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