Miclyn Express Offshore Limited

ABRN 141 683 552

3 HarbourFront Place

#11-01/04 HarbourFront Tower 2

Singapore 099254

Telephone: +65 6545 6211

Fax: +65 6545 9211

Internet: www.miclynexpressoffshore.com

19 March 2013

DIVIDEND UPDATE

Miclyn Express Offshore Limited (ASX:MIO) ("MIO" or "the Company") would like to announce that the upcoming dividend distribution of 2.2 US cents per share payable on 19 April 2013 will be converted at the prevailing AUD/USD bank exchange rate on record date for the distribution (18 March 2013) being

1.0364, translating to a dividend of 2.12273 AUD cents per share.

Shareholders participating in the Company's Dividend Reinvestment Plan ("DRP") will be issued stock at a 2.5% discount to the arithmetic average of the daily volume weighted average price of the Company's shares sold on the Australian Securities Exchange during the fifteen (15) trading day pricing period commencing on 20 March 2013. The DRP is fully underwritten.

Kind regards,

Diederik de Boer

Chief Executive Officer

MICLYN EXPRESS OFFSHORE LIMITED

About Miclyn Express Offshore

Miclyn Express Offshore is a leading provider of service vessels to the expanding offshore oil and gas industry, across South-East Asia, Australia and the Middle East. The Group charters a diverse range of OSVs, Crew/Utility Vessels, Tugs, Barges and Coastal Survey Vessels to a wide range of customers operating across all phases of the offshore oil and gas cycle, namely exploration, development and production, as well as project transportation and the offshore civil construction industry. The Group operates a vertically integrated business model through its vessel chartering and shipyard businesses. The shipyard provides in-house vessel newbuilding, conversion, repair and maintenance services, as well as third party vessel conversion, repair and maintenance services when spare capacity exists.

For further enquiries, please contact:

Adam Clayton
GM, Corporate Finance & Investor Relations
Tel: +65 6829 6122
Mob: +65 8298 5155

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