NORSK TILLITSMANN ASA - COMMENCEMENT OF ENFORCEMENT PROCEEDINGS

InterOil Exploration and Production ASA has been informed that Norsk Tillitsmann ASA has initiated proceedings by which Norsk Tillitsmann ASA is seeking enforcement of the share pledge in our subsidiaries, InterOil Exploration and Production Latin America AS, InterOil Exploration and Production Africa AS and InterOil Exploration and Production Ghana AS, in favour of Norsk Tillitsmann ASA as Loan Trustee of the bondholders in the FRN InterOil Exploration and Production ASA Senior Securred Callable and Putable Bond Loan Issue med ISIN no. 001.036356.7. The claim amounts to USD 115.000,000 plus interest and costs. InterOil Exploration and Production ASA is of the opinion that Norsk Tillitsmann ASA is not entitled to pursue the initiated enforcement proceedings and intends to plead for the proceedings to be dismissed and/or InterOil Exploration and Production ASA to be acquitted. The initiated sale and refinancing process will continue with the aim to secure repayment of the above referred secured loan as well as unsecured creditors. As previously informed, the company aims to conclude this process by end April. For more information please contact: Fredrik von Zernichow Investor Relation Manager Tel: +47 6751 8661 Mob: +47 9927 3843 Fax: +47 6751 8660 E-mail: f.zernichow@interoil.no  *************************** InterOil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America and West-Africa. The company is operator of several production and exploration assets in Peru and Colombia, and is an active license partner in Angola and Ghana. InterOil currently employs approximately 200 people and is headquartered in Oslo. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1374418]