Golden Ocean Group

Golden Ocean Group (OSL:GOGL) Hemen Holding Limited, a company indirectly controlled by John Fredriksen, has settled a TRS agreement (Total Return Swap) underlying 1,423,001 shares in Golden Ocean Group Limited ("Golden Ocean") expiring January 15, 2009. Hemen Holding Limited has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is April 15, 2009, and the new TRS price is NOK 5.013 per share. Hemen Holding Limited's ownership in Golden Ocean Group Limited is not influenced by the TRS agreements.

Golden Ocean Group (OSL:GOGL) Hans Christian Børresen (Director) has on December 29 2008 sold 230,000 shares in Golden Ocean Group Limited at an average price of NOK 4.24 per share. He holds after this 6,000 shares in Golden Ocean Group Limited. Hamilton, Bermuda December 29, 2008

Golden Ocean Group (OSL:GOGL) Geir Karlsen (CFO of Golden Ocean Management AS) has extended a TRS agreement that expired December 1, 2008. The TRS agreement has exposure to 175,000 underlying shares in Golden Ocean Group Limited. New expiry date is March 4 2009, and new TRS price is NOK 3.52.

Golden Ocean Group (OSL:GOGL) Please find enclosed the presentation of the Preliminary Third Quarter 2008 Results, held in the morning on Monday December 1, 2008.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited (the "Company" or "Golden Ocean") reports net income of $118.7 million and earnings per share of $0.43 for the third quarter of 2008. This compares with net income and earnings per share of $52.9 million and $0.20 respectively for the third quarter of 2007. Total operating revenues for the third quarter were $309.8 million, total operating expenses were $242.3 million and net other expenses were $3.1 million. Included in the third quarter results is a gain on sale of assets of $54.4 million. This relates to the two previously announced sales of one Panamax newbuilding delivered from Jiangsu Rong Sheng Heavy Industries and one Capesize newbuilding delivered from Daehan Shipyard in Korea.

Golden Ocean Group (OSL:GOGL) Golden Ocean's Third Quarter 2008 Results will be released on Monday December 1, 2008. In connection with this a presentation will be held as described below:

Golden Ocean Group (OSL:GOGL) Hans Christian Børresen (Director), has on September 25 2008 acquired 16,000 shares in Golden Ocean Group Limited at an average price of NOK 17,35 per share. He holds after this 236,000 shares in Golden Ocean Group Limited. Hamilton, Bermuda September 25, 2008

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to advise that the Company has sold one of the Kamsarmax newbuildings ordered in October 2007 at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited (the "Company") advises that the 2008 Annual General Meeting of the Company was held on September 19, 2008 at 11:00 a.m. at the Fairmont Hamilton Princess, 76 Pitts Bay Road, Hamilton, Bermuda. The following resolutions were passed:

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited ("Golden Ocean" or the "Company") advises that the Company has re-purchased $2,000,000 of nominal value of Convertible Bonds with ISIN NO 0010403892 (the "CBs") at a price of 84.125 per cent per bond.