Annual report and approved annual accounts for 2008

2008 Annual Report

The Board of Directors of Nexus Floating Production Ltd. (Nexus) has approved the 2008 annual accounts. Nexus reports a negative result before taxes of USD 96.4 million. The result is USD 95 million lower than the preliminary financial statements announced on February 25, 2009, due to a revised impairment of the value of the Nexus#1 FPSO.

The company wants to draw attention to the auditor's report in the enclosed annual report for 2008, where a modified opinion has been issued. Reference is made to section 5.5, fifth paragraph, in the Securities Trading Act.

Please find further details in the enclosed Annual Report for 2008:
            Annual Report for 2008

To view the PDF documents you will need the Acrobat Reader.
Please click HERE to download the free Adobe Acrobat Reader software.

For further information, please contact:

   Anders Holm, CEO
   aho@nexusfp.no
   +47 90 60 50 72

   Arild Bårdsen, CFO
   aba@nexusfp.no
   +47 92 66 75 90