SOURCE: Dockwise Ltd

September 12, 2007 02:17 ET

Dockwise awarded contract testing program with the Military Sealift Command

BREDA, NORWAY--(Marketwire - September 12, 2007) -

Hamilton, Bermuda, 12 September 2007 - Dockwise Ltd ("Dockwise") has been awarded a contract by US Military Sealift Command for the use of one of its specialised open stern vessels for offshore operational design tests. The contract is due to be executed late 2008 and has a gross value in excess of USD 25 million, including the costs of modification of the vessel.

This is the fourth time Dockwise will provide one of its large heavy transport vessels to the US Navy for offshore operational tests. These tests are meant to provide data and design criteria for a new navy vessel called MLP (Mobile Logistics Platform). These new MLP vessels are aimed to be part of the navy's sea-basing effort to facilitate the transfer of material from large cargo ships to an intermediate platform for ultimate transfer to shore on various types of landing crafts. Dockwise will provide one of its large flat deck open stern vessels that will be outfitted with a number of technical adjustments required to perform the various tests, amounting to approximately USD 10 million. The testing off the east coast of the US will provide required data that will assist with ramp design and motion compensation in various sea states.

André Goedée, CEO of Dockwise, confirms that the unique character of the Dockwise flat deck open stern vessels makes them particularly suitable for the tests of the US Navy. He comments: "Following several tests executed with Dockwise vessels in recent years, this award is a further confirmation of the appreciation the US Navy has for the professionalism of the Dockwise crew and organisation as well as the suitability of the vessels. These tests require substantial additional engineering input from Dockwise, looking at the particular requirements of the US Navy. They do however form a perfect fit with our capabilities built up in recent years. It is interesting to see that the military market continues to provide substantial utilization for the large Dockwise vessels."

About Dockwise Ltd/the Dockwise Group

Dockwise Ltd is the parent company of the Dockwise group of companies (the "Dockwise Group"), one of the world's leading integrated heavy lift services providers.

Following the recent combination with Dockwise Ltd (then named Sealift Ltd), the Dockwise Group currently owns a fleet of 22 vessels, of which 17 are semi-submersible heavy transport vessels and the remaining 5 are due to be converted into semi-submersible heavy transport vessels. The Dockwise Group is able to transport the heaviest cargos over vast distances. In addition, the Dockwise Group provides its customers with high value added services such as engineering, project management and front-end engineering design, particularly in the transportation and installation of offshore structures business. This capability has been further enhanced by the recent acquisitions of Offshore Kinematics Inc and Ocean Dynamics LLC. The Dockwise Group employs about 800 people worldwide. With a global network of offices in Bermuda (Dockwise Ltd's headquarters), Breda, (the Netherlands, being the operational headquarters of the Dockwise Group), Houston (Texas, USA), Shanghai (China), Shenzen (China), Busan (South Korea), Lagos (Nigeria) and Fort Lauderdale (USA)/Golfe Juan (France)/Genua (Italy) (Dockwise Yacht Transport), as well as 8 representing agents, the Dockwise Group provides an extensive service network to its clients. For further information:

This document contains certain forward-looking statements relating to the business, financial performance and results of the Dockwise Group and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, contained in this document, including assumptions, opinions and views of the Dockwise Group or cited from third party sources are solely opinions and forecasts which are uncertain and subject to risks. A multitude of factors can cause actual events to differ significantly from any anticipated development. Neither the Dockwise Group nor any of its subsidiary undertakings nor any of its officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither the Dockwise Group nor any of its subsidiary undertakings nor any such person's officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. ----------------------------------------------------------

For further information:
Jacqueline Lenterman, Investor Relations
Tel: +31 (0)6 29 39 39 69

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