Golden Ocean Group

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited ("Golden Ocean" or the "Company") advises that the Company has re-purchased $8,000,000 of nominal value of Convertible Bonds with ISIN NO 0010403892 (the "CBs") at a price of 84.75 per cent per bond.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to announce that the Company have taken delivery of the second capesize newbuilding contracted in December 2006 from Daehan Shipbuilding Co., South Korea.

Golden Ocean Group (OSL:GOGL) Geir Karlsen (CFO of Golden Ocean Management AS) has exercised share options to acquire a total of 250,000 shares in the Company. The strike price for the share options are NOK 0.92 per share. He has sold the shares and simultanously financed and acquired TRS agreements with exposure to 175,000 shares in the Company. The TRS agreements expires December 1, 2008 based on a price of NOK 23.05. Geir Karlsen's ownership in Golden Ocean is following these transactions 125,000 shares. In addition comes the TRS agreements.

Golden Ocean Group (OSL:GOGL) On 20 August 2008 Golden Ocean Group Limited announced a dividend of $0.40 per share. The Conversion Price has been adjusted on the Convertible Bond from $7.10 to $6.55 per share effective on 2 September 2008, which was the ex-dividend date.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited announces that its 2008 Annual General Meeting will be held on September 19, 2008. A copy of the Notice of Annual General Meeting and associated information including the Company`s Consolidated Financial Statements for 2007 can be found on our website at www.goldenocean.bm and in the links below.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited announces the filing of its Consolidated Financial Statements for the year ended December 2007.

Golden Ocean Group (OSL:GOGL) Please find enclosed the presentation of the Preliminary Second Quarter 2008 Results, held in the morning on Wednesday August 20, 2008.

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited (the "Company" or "Golden Ocean") reports net income of $201.0 million and earnings per share of $0.73 for the second quarter of 2008. This compares with net income and earnings per share of $25.6 million and $0.09 respectively for the second quarter of 2007. Total operating revenues for the second quarter were $243.8 million, total operating expenses were $180.3 million and net other expenses were $8.3 million. Included in the second quarter results is a gain on the sale of assets of $145.8 million. This relates to the announced sales of the two Panamax vessels Golden Jasmine and Golden Jade in addition to the sale of the first Capesize newbuilding delivered from the Daehan Shipyard in Korea.

Golden Ocean Group (OSL:GOGL) Golden Ocean's Second Quarter 2008 Results will be released on Wednesday August 20, 2008. In connection with this a presentation will be held as described below:

Golden Ocean Group Hemen Holding Limited, a company indirectly controlled by John Fredriksen, has entered into TRS agreements relating to 1,423,001 underlying shares in Golden Ocean Group Limited. The TRS agreements expires 15 January 2009. The TRS agreement is priced based on an underlying price of NOK 28.71 per share. Hemen Holding Limited's ownership in Golden Ocean Group Limited is not influenced by the TRS agreements.