GOGL - Golden Ocean cancels bond offering

GOGL - Golden Ocean cancels bond offering Golden Ocean Group Limited ("Golden Ocean" or the "Company") announces today that it has cancelled its convertible bond offering. Golden Ocean has favourable financing alternatives in place, and has solid cash flow from operations and strong liquidity position. The purpose of the proposed bond offering was purely to finance opportunistic investment and further expansion of the Company. The Board does not see the achievable terms including coupon and dilution to existing shareholders as an attractive financing option and have therefore decided to cancel the offering. 8 December 2009 Hamilton, Bermuda Contact Persons: Herman Billung: CEO, Golden Ocean Management AS +47 22 01 73 40 Geir Karlsen: CFO, Golden Ocean Management AS +47 22 01 73 53 This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.