Scorpion Offshore Votes to Increase Share Capital

A special general meeting of the shareholders of Scorpion Offshore Ltd. was held on Thursday, June 1, 2006 (adjourned from May 23, 2006) at 16.15 hours (Bermuda Time) at Canon's Court, 22 Victoria Street, Hamilton HM 12, Bermuda. A majority of the shareholders approved the increase the par value of its authorized share capital from US $150,000 to US $300,000 and its number of authorized shares from 75 million to 150 million.

Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.

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