STX Europe has entered into new contracts with Island Offshore for the building
of two Platform Supply Vessels. The vessels will be built at STX Europe in
Brevik, and are based on the same design as Island Commander and Island
Chieftain delivered from STX Europe earlier this year. The vessels are scheduled
for delivery in Q4 2011 and Q1 2012. The total value of the contracts amounts to
approximately NOK 800 million.

The vessels are of Rolls-Royce UT 776 CD design, and will be number five and six
in this series delivered from STX Europe to Island Offshore.

Roy Reite, President of STX Europe's Offshore & Specialized Vessels business
area, says:

"We have been awarded a total of 29 new building contracts with Island Offshore.
We appreciate the close cooperation with Island Offshore, which is an innovative
customer both in upturns and downturns in the offshore market. We look forward
to continuing the good cooperation with the Island Offshore's team."

The vessels are scheduled for delivery in Q4 2011 and Q1 2012. The hulls will be
built at STX Europe in Romania, and outfitted at STX Europe in Norway.



Technical information:

+------------------------------------------+-------------------------------+
| Types of vessel:                         | PSV (Platform Supply Vessel)  |
|                                          |                               |
| Shipyard:                                | STX Europe in Brevik          |
|                                          |                               |
| Design and integrated equipment system:  | Rolls-Royce                   |
|                                          |                               |
| Length overall                           | 93 m                          |
|                                          |                               |
| Breadth moulded                          | 20 m                          |
|                                          |                               |
| Deadweight                               | 4.000 t                       |
+------------------------------------------+-------------------------------+

Pictures of vessels in the same series are available at:
www.stxeurope.com - media centre - download centre

ID: NorwayPress / Password: NorwayPress

For further information please contact:

+----------------------------------+-------------------------------------------+
|Hege Anita Akselvoll              |Roy Reite                                  |
|Communications Manager            |                                           |
|Offshore & Specialized Vessels    |President                                  |
|                                  |Offshore & Specialized Vessels             |
|Direct: +47 71 18 35 34           |                                           |
|Mobile: +47 91 69 00 51           |Direct: +47 70 21 06 05                    |
|hege.akselvoll@stxeurope.com      |Mobile: +47 90 11 08 07                    |
|                               |           |
+----------------------------------+-------------------------------------------+



STX Europe AS is an international shipbuilding group which aims to be the
leading builder of cruise and offshore vessels. The group has a strong position
in terms of developing state-of-the-art concepts, technology, processes and
products for customers around the world. STX Europe AS comprises 15 shipyards in
Finland, France, Norway, Romania, Brazil and Vietnam. STX Europe has approx.
16 000 employees. Formerly known as Aker Yards, the group changed its name to
STX Europe in November 2008.



STX Europe's principal shareholder, the international industrial group STX, has
approximately 40 000 employees and aims to be a global top player in its core
areas; shipping and trade, shipbuilding and machineries, plant and construction,
and energy.

www.stxeurope.com <http://www.stxeurope.com/>

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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