shipbuilding orders of S$96 million

· Higher contract values for the construction of seven vessels

·

the European marketEstablishes itself as a niche builder for specialized vessels in

Singapore, 15 January 2008

?Group?), an integrated marine company offering comprehensive services in

shipbuilding, shiprepair and shipchartering; and owning shipyards in Singapore, Batam

(Indonesia) and Guangdong (China), has secured new shipbuilding contracts worth a

total of S$96 million for the construction of seven vessels.

These seven vessels include;? ASL Marine Holdings Ltd. (?ASL Marine? or the

· 2 units Emergency Response and Rescue Vessels

· 1 unit Water Injection Dredger and

·

All seven vessels are secured from existing European customers.4 units Rotor
tug of 80 tons bollard pull

?These new vessels will be built at our Singapore shipyard. The Group has been

expanding and upgrading its shipyard capacity and capabilities to handle the

building of more sophisticated vessels where requirement for quality, statutory

compliance and safety are extremely stringent. Our hard works have been

rewarded with higher value contracts from our customers.?

? ASL Marine has successfully established itself as a niche builder for specialized

vessels in the European market. Most of our orders come from repeat customers

who are confident of the quality that we can deliver.?

Mr Ang Kok Tian, Chairman and Managing Director

The two units of Emergency Response and Rescue Vessels and the Water Injection

Dredger are expected to be completed in 2009. Of the four units of Rotor

vessels are expected to be completed in 2011 and the remaining vessel is expected to

be completed in 2012.

These contracts are not expected to have a material financial impact on the net tangible

asset and earnings per share of the Group for the financial year ending 30 June 2008.
tug, three