Golden Ocean Group : GOGL - Settlement of dispute

              Golden Ocean Group : GOGL - Settlement of dispute

Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to
announcethat it has entered into an agreement to settle the dispute regarding
its claim in respect of contractual non-performance in 2010 in relation to
delivery of one of the Company's vessels on a then 10-year charter agreement.
The Company has received a $30 million cash payment in settlement of its
claim. Deducted for related costs the Company expects to book a net income
related to this settlement of about $29 million in the second quarter of 2013.

May 30, 2013

The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda

Contact Persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 41
Birgitte Ringstad Vartdal: CFO, Golden Ocean Management AS
+47 22 01 73 53

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

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Source: Golden Ocean Group via Thomson Reuters ONE
HUG#1706057