Stolt Offshore Lifts Trading Restrictions on New Shares

Stolt Offshore S.A. (Nasdaq: SOSA; Oslo Stock Exchange: STO), announced that the transfer restrictions have been lifted on the 45.5 million Common Shares, which were issued in the private placement and on which trading commenced on March 12, 2004.

The ISIN number under which the new shares have been trading and the STON ticker code will be cancelled on March 25, 2004. All Stolt Offshore shares registered on the Oslo Bors will trade under the original ISIN number and STO ticker code from that date.

Stolt Offshore is a leading offshore contractor to the oil and gas industry, specialising in technologically sophisticated deepwater engineering, flowline and pipeline lay, construction, inspection and maintenance services. The Company operates in Europe, the Middle East, West Africa, Asia Pacific, and the Americas.