Ship Finance International Limited — Appointment of Chief Executive Officer

HAMILTON, Bermuda, April 11, 2006 (PRIMEZONE) — Ship Finance International Limited (“Ship Finance” or “Company”) has employed Lars Solbakken as its Chief Executive Officer (“CEO”). Mr. Solbakken is 48 years old and is currently employed by Fortis Bank. Mr. Solbakken is, in his current position, the general manager of Fortis Bank in Norway and is responsible for the bank’s shipping and oil service activities in Scandinavia.

From 1987 to 1997 Mr. Solbakken served in several positions in Nordea Bank Norge ASA (previously Christiania Bank). He was senior vice president and deputy for the shipping, offshore and aviation group, head of equity issues and merger & acquisition activities and general manager for the Seattle Branch. Prior to joining Nordea Bank Norge ASA, Mr. Solbakken worked 5 years in Wilh. Wilhelmsen ASA as finance manager. Mr. Solbakken has a master of science from the Norwegian School of Economics and Business Administration.

Mr. Solbakken is expected to take up his position with Ship Finance during the second quarter of 2006.

Chairman in Ship Finance Tor Olav Troeim said in a comment:” We are very pleased to have recruited Mr. Solbakken to become the new CEO. His broad international background as a senior banker and his very good reputation in the shipping market secures our Company a top professional CEO, highly qualified to develop and execute the Company’s growth strategy.”

CONTACT:   Ship Finance International Limited