Ocean Wilsons Regulatory News (OCN)

Ocean Wilsons Holdings Limited

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

Wilson Sons Limited ("Company") announces to all its shareholders that Wilson, Sons Ultratug Offshore (WSUT), in which Wilson, Sons has a 50% interest, participated in the latest Petrobras tender (International Invitation) for the construction of offshore support vessels (OSVs). Petrobras received the commercial proposals on May 27th, 2011, and the contracts are part of the government-backed fleet renewal program known as Prorefam (Program for the Renovation of the Offshore Support Fleet).

Following this first step of the tender - the presentation of commercial proposals - the Company became aware, through Petrobras' official system (Petronect), that its daily rate offers are the lowest for 4 (four) vessels type PSV 4500 (Platform Supply Vessels) and 2 (two) vessels type T 15.000 (Tug Supply). The Company notes that having offered the lowest daily rates does not, by any means, guarantee that Petrobras will contract any vessels from the Company. The Company awaits official tender results from Petrobras as well as the winning companies and quantity of vessels of each type to be contracted. Also, the tender results are subject to additional approval by Petrobras directors.

The WSUT strategy is to build vessels to meet the demand from national and international oil companies operating in Brazil. According to Petrobras strategic plan, it will require 250 new chartered OSV's by 2020 to fulfill their exploration and production of pre-salt and post-salt reserves.

Company Contact

Keith Middleton 1 441 295 1309

Seymour Pierce Limited 020 7107 8000

Guy Peters - Corporate Finance

David Banks - Corporate Broking