PAN-UNITED MARINE LIMITED

 

泛联海事有限公司

(Company Registration No. 199106523R)

Press Release

 

Clinches Singapore?s first ultra-large AHTS

 

vessel shipbuilding contract

 

�� 1st Singapore yard to build 30,000bhp AHTS vessels

 

�� S$98m contract lifts orderbook above S$570m

 

�� In line with focus on higher value-added projects

 

Singapore, 3 May 2007 ? Pan-United Marine Limited (?PUM? or the ?Group?) today

announced it has won two shipbuilding contracts, worth a total of S$98 million, to build

two UT788 CD anchor handling, towing, and supply (AHTS) vessels from repeat client,

Lewek Shipping Pte Ltd, a subsidiary of Mainboard-listed Ezra Holdings Limited (?Ezra?),

a fully integrated support services provider operating a wide spectrum of vessels for the

offshore oil & gas industry.

The two 30,000bhp AHTS vessels will be built in PUM?s Singapore yard for delivery in

end 2009.

Said PUM?s Executive Chairman Henry Ng: ?The earlier strategy that we adopted to

focus on higher value-added projects has certainly paid off for our Group. Apart from

their being the first ultra-large AHTS vessels to be built by a Singapore ? and possibly

Asian ? yard, they are also the largest AHTS vessels ever to be designed by

Rolls-Royce Marine, a world-leading provider of vessel design as well as equipment for

the offshore sector.?

Mr Ng added: ?We are pleased to have the Ezra Group?s continued confidence.?

The contracts lift PUM?s outstanding orderbook to about S$574 million, from S$476

million at end-March.

PUM recently announced its 1Q07 results which posted a near-doubling of its operating

profit to S$11.2 million on sharply higher ship repair and conversion activities.