With reference to Ocean Yield ASA's ("Ocean Yield") press releases on 20
December 2018, 20 June 2019 and 31 October 2019, F-Shiplease AS, a fully owned
subsidiary of Ocean Yield, has today agreed to extend the standstill period with
Solstad Offshore ASA ("SOFF") and its subsidiaries for the vessels Far Senator
and Far Statesman up to and including 30 April 2020.

A large majority of the stakeholders of SOFF, including secured lenders, leasing
companies, industrial shareholders and key bondholders have established a common
plan to finalize negotiations on the basis of a restructuring outline to the
benefit of all stakeholders (the "Restructuring Outline"). As such, the relevant
stakeholders have confirmed their intention to work together to enter into a
binding agreement for the Restructuring Outline within end of April 2020.

SOFF and Ocean Yield has agreed, subject to final terms and documentation, that
the existing lease agreements of F-Shiplease AS will be terminated and replaced
by new lease agreements with a duration of 4 years, with certain cancellation
options in favour of F-Shiplease AS during the term of the charters. The charter
rate payable under the new lease agreements shall be a reference rate equal to
the average per vessel EBITDA in a pool of seven similar UT731 design vessels.

The underlying commercial principle of the new lease agreements shall be that F
-Shiplease AS will carry all upside/downside from the operation of its vessels
during the charter period. SOFF shall only receive cost coverage for its
operation of the vessels.

The remaining estimated net claim of F-Shiplease AS following the termination of
the existing lease agreements  shall be converted into shares in SOFF using the
same conversion rate as that used for the conversion of the debt to the secured
lenders of SOFF.

Company contact:

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82

Company information:

Ocean Yield ASA is a ship owning company with investments in vessels on long
-term charters. The company has a significant contract backlog that offers
visibility with respect to future earnings and dividend capacity.