LAM.L Regulatory News (LAM)

17 July 2012

Lamprell

("Lamprell" or the "Group")

LAMPRELL ANNOUNCES US$ 120.9 MILLION CONTRACT AWARD

Fourth Seajacks vessel to be built by the Group

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewables industry, is pleased to announce that it has received a new contract award from Seajacks 4 Limited ("Seajacks").

The Engineering, Procurement & Construction contract,which is valued at US$ 120.9 million and subject to conditions precedent, is for the design, construction and delivery of a Seajacks modified Gusto MSC NG 2500X self-elevating and self-propelled jackup for offshore oil & gas and offshore wind turbine installation and maintenance operations. The vessel, named 'Seajacks Hydra', will be constructed at Lamprell's Hamriyah facility in the United Arab Emirates and will be delivered in 2014.

The design weight of this class-leading and state of the art jackup vessel exceeds 7,000 tonnes (Te). The vessel is equipped with dynamic positioning, high speed jacking systems, a 400Te crane and a propulsion system that is designed to allow the vessel to sail at a speed of 8 knots. The unit includes accommodation for 100 personnel and has a payload capacity of 1400Te.

Lamprell has built three vessels for Seajacks previously; Kraken, Leviathan and Zaratan, all of which have been operating on oil & gas and wind farm projects in the UK, Holland and, in future, Germany. Kraken and Leviathan are of similar design to Hydra and were successfully completed on time and budget, helping to establish Lamprell's position as an early leader in the provision of liftboats for wind farm installation.

Nigel McCue, Chief Executive Officer, Lamprell commented:

"I am delighted that Seajacks are continuing to work with Lamprell, following successful delivery of three vessels to them in the recent past. This reinforces our customer's confidence in Lamprell's ability to deliver major construction projects on time and budget."

Kevin Alcock, Vice President New Build Projects, Seajacks, commented:

"Seajacks are delighted to place this order with Lamprell. Hydra will become the fourth vessel in our fleet and is part of our long term growth plan following the acquisition of the company by Marubeni and INCJ earlier this year. As part of that plan we are already working on the design and specification of Vessel five. As constructor of our previous three vessels, Lamprell has already proven, that they can deliver a quality product on time, and on budget. We trust that they will continue to do so and that is why we continue to have faith in them and consider them as a valuable partner to Seajacks."

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Notes to editors

Lamprell, based in the United Arab Emirates ("UAE"), and with operations throughout the region, has played a prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years and is the regional market leader in the rig market. Lamprell is a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries.

Lamprell employs approximately 12,000 people, including contract labour, across six facilities, with its primary facilities located in Hamriyah, Sharjah and Jebel Ali, all of which are in the UAE. In addition, the Group has facilities in Saudi Arabia (through a JV agreement) and Kuwait. Combined, the Group's facilities provide a total area of over 925,000 m² with 2.2 km of quayside.

Oil & Gas

·; New Build Offshore

·; New Build Jackup Drilling Rigs

·; Rig Refurbishment

·; Engineering & Construction

·; Land Rig Services

Renewable Energy

·; Wind Farm Installation Vessels

·; Transformer Stations (AC & DC)

·; Wind Turbine Foundations

Services

·; Engineering Services

·; INSPEC (NDT, Mechanical & Calibration Services)

·; Sunbelt H2S Safety Services

·; Operations & Maintenance

www.lamprell.com