Contract Update

1 April 2014

Thalassa Holdings Ltd

(Reuters: THAL.L, Bloomberg: THAL:LN)

("Thalassa")

Contract Update

The Board of Thalassa is pleased to announce that WGP Group has received a service order to perform a survey in the North Sea. One of the Group's PMSSTM units will be mobilised on an operated field platform survey vessel that will be converted into a seismic source vessel for the duration of the survey. Mobilisation will commence during April 2014 and the survey is expected to conclude in May 2014.

Thalassa's Chairman, Duncan Soukup commented:

"I am delighted to announce this service order, which will make a meaningful contribution to the growth which the board anticipates Thalassa will achieve this year."

Contacts:

Thalassa Holdings Ltd:

Duncan Soukup, Executive Chairman +33 (0)6 78 63 26 89

WH Ireland Limited (Nominated adviser):

Chris Fielding, Head of Corporate Finance 020 7220 1650

www.thalassaholdingsltd.com

Notes to Editor:

Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with subsidiaries in the Energy Services and Defence and Homeland Security Industries, with a focus on marine seismic operations.