New Dockwise Contracts for Transport of 3 Drilling Rigs

Dockwise Ltd. announces that five contracts have been awarded to their subsidiary Dockwise Shipping for the transportation of three drilling rigs and two voyages with dredging equipment.

Dockwise Shipping will transport miscellaneous dredging equipment for Van Oord Dredging & Marine Contractors and Jan de Nul as well as the jack-up drilling rigs Petrojack II, Aban VIII and Deep Driller IV in 2008.

The new build Jack-up drilling rigs Petrojack II and Aban VIII are currently being completed in Singapore, whereas the Deep Driller IV will be relocated.

All contracts contribute to the Dockwise strategic objective to materially expand activities in both rig transport (core business) and transport of offshore production facilities. The total value of the contracts is close to USD 18 million.

Our financial guidance for 2008 is that adjusted EBITDA will increase by at least 60% relative to 2007. Reporting on Q1 results is scheduled for 20 May 2008 before trading.

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