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Press release from Ship Finance International Limited, August 7, 2008

Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the
"Company") has  employed Peter  Lund as  Commercial Director.  He  is
expected to take up his position with Ship Finance in September 2008,
and will be based in a newly established office in Singapore.

Mr. Lund is currently  head of Maersk Brokers  in Singapore, and  has
worked 15 years  in the  AP Moller  group of  companies in  different
geographic locations.  He holds  a  Masters degree  in Law  from  the
University of Copenhagen.

Lars Solbakken, Chief  Executive Officer in  Ship Finance  Management
AS, said in  a comment: "We  are very pleased  to have recruited  Mr.
Lund to become the new Commercial Director of our company. His  broad
international shipping background and  detailed knowledge of  several
of our target segments  will be very valuable  for us as we  continue
our growth and diversification. We also expect that our new office in
Singapore will increase our business volume in Asia."


August 7, 2008
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda

Contact Persons:
Lars Solbakken: Chief Executive Officer, Ship Finance Management AS
+47 2311 4006 / +47 9119 8844

Ole B. Hjertaker: Chief Financial Officer, Ship Finance Management AS
+47 2311 4011 / +47 9014 1243



About Ship Finance

Ship Finance is a  major ship owning company  listed on the New  York
Stock Exchange  (NYSE:  SFL). Including  newbuildings  and  announced
acquisitions, the Company  has a  fleet of 71  vessels, including  33
crude  oil  tankers  (VLCC  and  Suezmax),  2  chemical  tankers,   8
oil/bulk/ore vessels, 13  container vessels, 3  dry bulk carriers,  6
offshore supply vessels  and 3  seismic vessels,  2 jack-up  drilling
rigs and  one ultra-deepwater  drillship.  The fleet  is one  of  the
largest in the  world and most  of the vessels  are employed on  long
term charters.

More  information   can   be   found  on   the   Company's   website:
www.shipfinance.org




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  Ship  Finance
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.



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