Lamprell Sets Share Price at 195 Pence/share

Lamprell plc and other members of its group, based in the United Arab Emirates, a prominent provider of specialized services to the offshore oil and gas industry, successfully priced an offering of existing ordinary shares to institutional investors and intends to seek admission of its entire share capital to trading on AIM, a market operated by London Stock Exchange plc. The Offer is conditional, inter alia, on Admission.

Following a successful institutional investor roadshow, the offer price has been set at 195 pence per Share.

JPMorgan Cazenove is acting as nominated adviser and broker to Lamprell and sole bookrunner to the Offer.

The Offer consists of a placing to institutional investors of 117,679,216 existing Shares which at the Offer Price represents a deal size of 229.5 million.

Following the Offer, the Company's issued share capital will be 200 million shares.

Based on the Offer Price, the market capitalization of the Company immediately following the Offer will be approximately 390 million

As demand for Lamprell's services continues to rise, the Directors believe that a London market listing will provide the Group with the profile needed to continue the expansion of its skills and capacity, to secure a more diversified ownership structure and to incentivise employees further.

Mr. Peter Whitbread, Chief Executive Officer and Chairman of Lamprell, said:

"I am delighted that the roadshow has been successful and I look forward to welcoming all our new shareholders. The specialized oil services market offers Lamprell a number of opportunities for growth in the years ahead. With our acknowledged expertise and strategic base in the UAE, I believe Lamprell is well placed to benefit from those opportunities.

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