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Trico to Launch Offer for All Shares of Active Subsea ASA

Maritime Activity Reports, Inc.

November 8, 2007

Trico Marine Services, Inc. (NASDAQ: TRMA) and Active Subsea ASA (NOTC: ASUB) announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea. The offer price per share of Active Subsea will be $4.27 paid in cash. The offer values Active Subsea's equity at approximately $242m at exchange rates as of November 2, 2007. The board of directors and management of Active Subsea believes that it is in the best interests of the company's shareholders to support the offer. All board members in Active Subsea have pre-accepted the offer for the shares they hold in Active Subsea, including options and warrants. The transaction is expected to be completed in the fourth quarter of 2007 and is subject to regulatory and other customary approvals, as well as to Trico receiving valid and unconditional acceptances of the offer from shareholders representing more than 90% of the fully diluted shares of Active Subsea. Active Subsea ASA is an offshore services company based in Ålesund, Norway with eight medium-sized VS 470 multi-purpose service vessels ("MPSVs") on order for delivery beginning in 2Q08 through 1Q09. Active Subsea's vessels are designed to support subsea services, including performing inspection, maintenance and repair work using remotely operated vehicles ("ROVs"), dive and seismic support and light construction activities. Active Subsea has already secured three long-term contracts with customers. Following the transaction, management of Active Subsea will continue to supervise the construction of the vessels and participate in marketing efforts for a transition period. [Source: http://money.cnn.com]

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