Polarcus Board approves 2011 Annual Report

The Board of Directors of Polarcus Limited (OAX: PLCS) has today approved the 2011 annual financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). Polarcus reported its IFRS unaudited fourth quarter and preliminary full year 2011 results on 29 February 2012. No changes have been made to the consolidated financial statements compared to those presented in the February earnings release.

Polarcus’ 2011 Annual Report will be made available electronically to the Company’s shareholders in April 2012 and for viewing or download 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 (OAX: PLCS) 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 operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company’s principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)