Avance Gas - Change of fiscal year-end and TCE guidance for the three months ended 30 November 2014

Bermuda, 15 December 2014: The Board of Avance Gas (OSE: AVANCE or the "Company") has decided to change the fiscal year end date of the Company from 30 November to 31 December. The change will take effect from and including Q4 2014. In 2014, the last interim reporting period will be the 4 month period ending 31 December 2014 and the full year will be the 13 month period ending the same date. The Company's unaudited interim financial result for the said period will be reported on 26 February 2015.

Avance Gas intends to report its quarterly results for 2015 on the following dates;

Q1:         28 May 2015
Q2:         27 August 2015
Q3          26 November 2015
Q4:         25 February 2016

Avance Gas expects to report a timecharter equivalent (TCE) rate for the three months ended 30 November 2014 at approximately $74,000 for the fleet.

For further information, please contact:

Christian Andersen, President
Tel: +47 22 00 48 05 / Email:c.andersen@avancegas.com

Peder C. G. Simonsen, CFO
Tel: +47 22 00 48 15/ Email:p.simonsen@avancegas.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.