Re Contract

22 February 2011

LAMPRELL PLC

("Lamprell")

LAMPRELL ANNOUNCES NEW CONTRACT AWARD

Lamprell (ticker: LAM), a leading provider of specialist engineering services to the international oil & gas and renewables industry, is pleased to announce that it has received a new contract award from Greatship Global Energy Services Pte. Ltd ("Greatship"), based in Singapore, for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E (Enhanced) Class design.

The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Lamprell will fabricate the jackup rig in its new yard in Hamriyah. The project is planned to be completed during the fourth quarter 2012.

Commenting on the contract award Nigel McCue, Chief Executive Officer, Lamprell said:

"We are delighted to be announcing today's contract win with Greatship, which we believe further demonstrates the strengthening market for new build jackup rigs. Greatship represents a highly valued addition to our customer base and we look forward to working with them both on this and future projects."

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Notes to editors

Lamprell, based in the UAE, has played an increasingly prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years, in later years providing specialised services to the offshore oil and gas industry.

·; Lamprell's three primary facilities are in Port Khalid and the Hamriyah Free Zone, in the Emirate of Sharjah, and in the Jebel Ali Free Zone, in the Emirate of Dubai, all of which are in the UAE.

·; The principal markets in which Lamprell operates, and the principal services it provides, are:

o Engineering, procurement and construction of jackup rigs, liftboats and drilling related equipment;

o Upgrade and refurbishment of offshore jackup rigs;

o New build construction for the offshore oil and gas sector, including Floating Production, Storage and Offloading systems and other offshore and onshore structures; and

o Oilfield engineering services, including the upgrade, refurbishment and new building of land rigs.