Polarcus Board approves 2009 Annual Report

25 Mar 2010

The Board of Directors of Polarcus Limited (OAX: PLCS) has today approved the 2009 annual financial statements prepared in accordance with International Financial Reporting Standards ("IFRS"). Polarcus reported its IFRS unaudited fourth quarter and preliminary full year 2009 results on 10 February 2010. No changes have been made to the consolidated financial statements compared to those presented in the February earnings release.

Polarcus' 2009 Annual Report will be available for viewing or download on 30 March 2010 at www.polarcus.com  and www.newsweb.no

Contacts

Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982

Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com