SFL – Appointment of Chief Financial Officer

Press release from Ship Finance International Limited, December 29, 2010


Mr. Eirik Eide has been appointed as Chief Financial Officer in Ship Finance Management AS. He is 40 years old and currently serves as Head of Corporate Finance and Head of Shipping Investments in Orkla Finans Kapitalforvaltning AS. Mr. Eide will take up his new position in January 2011.


Mr. Eide has 12 years experience from both debt and equity capital markets within the maritime and transportation industries and has previously worked for DnB NOR and Fortis Bank, two large international shipping banks. He holds a MSc in Business and Economics degree from the Norwegian School of Management.


Ole B. Hjertaker, Chief Executive Officer in Ship Finance Management AS said in a comment: “We are pleased to welcome Mr. Eirik Eide as the new Chief Financial Officer in our organization. Mr. Eide has a broad and relevant international background from both debt and equity markets, and we are convinced that this addition to our management team will strengthen our ability to grow the Company further.”



Ship Finance International Limited
December 29, 2010
Hamilton, Bermuda


Contact Persons:


Ole B. Hjertaker: Chief Executive Officer, Ship Finance Management AS
+47 23114011 / +47 90141243


Magnus T. Valeberg: Vice President, Ship Finance Management AS
+47 23114012 / +47 93440960



About Ship Finance


Ship Finance is a major ship owning company listed on the New York Stock Exchange (NYSE: SFL). Including newbuildings, the Company has a fleet of 71 vessels, including 30 crude oil tankers (VLCC and Suezmax), two chemical tankers, eight oil/bulk/ore vessels, 12 drybulk carriers including nine newbuildings, nine container vessels, six offshore supply vessels, one jack-up drilling rig, one ultra-deepwater drillship and two ultra-deepwater semi-submersible drilling rigs. The fleet is one of the largest in the world and most of the vessels are employed on long-term charters.


Cautionary Statement Regarding Forward Looking Statements

This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Company management’s examination of historical operating trends. Although Ship Finance believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Ship Finance cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.

Important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in this presentation include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC’s petroleum production levels and world wide oil consumption and storage, changes in the Company’s operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission.