Swissco confirms two more

Swissco Offshore Pte Ltd, a wholly-owned subsidiary of Swissco International Ltd, has recently added 2 more vessels to its offshore support fleet worth a total of $4.2 million. This is part of the Group?s strategic objective to expand its offshore vessel fleet.

The Group has recently exercised its option for a 2nd fast utility vessel with an

Australian shipyard, following their order of an aluminium fast craft late last year.

The second unit is expected to be delivered in the latter half of this year while the first unit is scheduled for delivery in May. This move enhances the Group?s emphasis in providing a more comprehensive range of vessels to meet the various needs of their clients by being a ?one-stop? offshore vessel provider.

In addition, the Group has also added another new order of a 36 metre multi-role

offshore utility vessel from a shipyard in Guangzhou, China, which is scheduled for delivery in the first half of 2008. This is the 14th vessel order placed with the shipyard by Swissco.

The Group expects to take delivery of 8 vessels for the rest of the financial year 2007 and 3 more for 2008. Swissco currently has a fleet of 15 offshore vessels and aims to have

30 to 35 in two years? time.