STX Europe ASA (OSL:AKY) New Contracts For STX Europe

STX Europe ASA (OSL:AKY) STX Europe has signed contracts for delivery of design and ship equipment to four platform supply vessels of STX Europe's own design PSV 09 CD. The total value of the four contracts amounts to approximately NOK 400 million.

The vessels will be built by the Japanese shipbuilding group Universal Shipbuilding Corporation (formerly NKK Corporation and Hitachi Zosen Corporation) for delivery to the Japanese ship-owner Sanko Steamship Company (Sanko Line) between 2010 and 2012.

"With these new contracts we have established a very good relationship to two of the largest and most important Japanese ship-owners", says Roy Reite, President for STX Europe's business area Offshore & Specialized Vessels.

The vessels, which will have a deadweight capacity of 4 800 dwt and a length of 86.6 meters, are designed by STX Europe's design company in Ålesund where the PSV 09 is one of the most popular designs. Two ships have already been delivered of this type and, including the four new contracts in Japan, there are a total of 13 vessels delivered or in order.

The PSV 09 CD is a diesel-electrical driven vessel known for its large and competitive cargo-capacity, excellent manoeuvring- and sea keeping performance and low bunker consumption. The design has an environmental profile and comes with high comfort level for the crew.

Important contributors in the process leading to these contracts, in addition to the design company and the trading department, have been STX Europe's newly opened office in Singapore.

There will be both Norwegian and foreign suppliers of ship-equipment to these contracts. Electrical and electronically equipment such as switchboards, consoles and integrated alarm- and control system and power management system will be manufactured by STX Europe's electro company. They will also supply complete drives for the electrical propulsion systems.

STX Norway Offshore Design (former Aker Yards Project) has now delivered design for more than 60 vessels, of which eleven are already delivered and 50 are under construction or in order. Approximately 20 percent of the vessels designed by STX Europe are to be built by external yards. STX Europe has already contract with another Japanese ship-owner, K-Line, for delivery of four vessels of PSV 06 CD design and two ultra-large anchor handling tug supply vessels of type AH 12.

For further information please contact:

STX Europe ASA: Torbjørn S. Andersen, Senior Vice President, Communications: Tel. +47 928 85 542 Elise Heidenreich, Vice President Investor Relations: Tel. +47 951 41 147

STX Europe, Offshore & Specialized Vessels: Hege Anita Akselvoll, Communications Manager: Tel +47 916 90 051

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

STX Europe ASA

www.stxeurope.com

ISIN: NO0010222995

Stock Identifier: XOSL.STXEUR