Potential Sale of AqualisBraemar LOC ASA Shares

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Potential Sale of 9.6 million AqualisBraemar LOC ASA Shares

Braemar would like to draw shareholders' attention to the announcement released today on the Oslo Bors in relation to a potential sale of up to 9,600,000 existing shares in AqualisBraemar LOC ASA owned by Braemar (the "Potential Sale"). There is no certainty that the Potential Sale will be successful nor as to the terms of the Potential Sale. Further announcements will be made as appropriate.

An extract from the Announcement is copied below:

Braemar Shipping Services PLC ("Braemar") has retained Sparebank 1 Markets AS (the "Bookrunner") as sole bookrunner to explore the sale of up to 9,600,000 existing shares in AqualisBraemar LOC ASA (the "Company" or "Aqualis"), representing approximately 10.37% of the share capital and voting rights in the Company (the "Placing"). The Placing is to be conducted as an accelerated bookbuilding process.

The bookbuilding process will commence immediately following the publication of this announcement and may be closed at short notice at the full discretion of the Bookrunner. A further announcement will be made following pricing of the shares in the Placing. Braemar reserves the right, at its own discretion, to sell fewer shares or no shares at all. Assuming all the shares available in the Placing are sold, Braemar will hold 9,640,621 shares in Aqualis.

Braemar currently holds 19,240,621 shares in the Company, equivalent to 20.79% of the share capital and voting rights. Braemar will enter into a customary 90 days lock-up for its remaining shares in the Company not sold in the Placing. Braemar is represented on the Board of Directors of the Company, through board member Ron Series.

For further information, contact:

Notes to Editors:

About Braemar Shipping Services Plc 

Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory and logistics services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions. Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.

 For more information, including our investor presentation, visit www.braemar.com 

Where this announcement contains links to websites and information owned or provided by third parties, they are provided for information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them. Braemar has no control over the contents of those websites or information.