Mermaid Maritime Starts Keel Laying for Support Vessels

Mermaid Maritime Public Company Limited refers to its previous announcement via SGXNET regarding a new built Tender Rig KM-1 for Mermaid's majority owned subsidiary Mermaid Kencana Rig 1 Pte. Ltd. Mermaid announced that a ceremony to commence the keel laying for the KM-1 was held at Kencana HL Sdn. Bhd.'s yard in Perak, Malaysia.

Delivery of the KM-1 is scheduled for the Q4/2009 calendar year.

Mermaid also refers to information contained in its initial public offering prospectus and subsequent updates posted via SGXNET regarding a newbuild DP2 Dive Support Vessel Mermaid Asiana for Mermaid's wholly owned subsidiary Mermaid Offshore Services Ltd.

Mermaid announced that a ceremony to commence the keel laying for the Mermaid Asiana was held last Thursday at ASL Marine Holdings Pte. Ltd.'s

shipyard in Singapore. Delivery of the Mermaid Asiana is scheduled for the Q3/2009 calendar year.

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