Polarcus – Notice from Bondholders’ Meeting 22 August 2011

22 Aug 2011

Reference is made to the announcement on 05 August 2011 regarding the summons to bondholders’ meeting. Polarcus Limited (OAX: PLCS) (“Polarcus” or “the Company”) is pleased to announce that the bondholders’ meeting held on 22 August 2011 at 13:00hrs CET resolved to approve the amendments in accordance with the Company’s proposal. The notice from the bondholders’ meeting is attached.

Bondholders Notice is attached hereto.

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)