GOGL – Acquisition of Four Capesize Newbuilding Contracts

Golden Ocean Group Limited (“Golden Ocean”) is pleased to advise that the Company has acquired two newbuilding contracts at Daehan Shipbuilding Co., Ltd., South Korea and two newbuilding contracts at Zhoushan Jinhaiwan Shipyard in China. The vessels of 170,000 dwt and 176.000 dwt respectively will be delivered between December 2008 and October 2009.