Trading Update

13 Oct 2008 08:09

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 (Bovespa: WSON11) announces that, on October 09, 2008, the Company's request for priority status has been approved by the Board of Directors' Council at the "FMM" (Portuguese initials for the "Merchant Marine Fund"). The Company's request for funding, in the order of USD 896 million, is intended for the construction of new vessels.

The use of proceeds is subject to analysis, approval and issuance of funds by an eligible financial agent with the FMM, and also subject to the Company's shipbuilding plan.