Peritus Strengthens Management Team

Peritus International has further strengthened its Management Team with the announcement of the appointment of Robert (Bob) Terrell as President of Peritus Americas based in Houston Texas.

With more than 30 years oil and gas experience, most of which has been spent managing offshore oil and gas developments around the world, Mr. Terrell brings with him a proven track record of successfully delivering projects for design, hardware and installation contracts, both small and large.

His experience to date includes some of the deepest water developments in the Gulf of Mexico, Africa and South America as well as most recently being involved in the Marine Well Containment Project which arose from the lessons learned from the Macondo Well
blow-out in April/May 2010.

Mr. Terrell has previously worked in Europe, North America, South America and Africa for some of the oil and gas industry's biggest players including General Electric, Cameron, McDermott, ABB and FMC.

"The Houston market is showing signs of increased activity after a somewhat quiet period following the Macondo Well incident in April/May 2010. Peritus is fully committed to having a strong and successful Americas business operating out of Houston and Bob
joining our team is a great outcome for Peritus," said Steve Hindmarsh, Peritus CEO. "His breadth of experience aligns well with the Peritus mission to offer subsea and floating systems engineering and field development expertise to its clients. Bob will provide good leadership and oversight to the excellent Peritus team already in place in Houston."

Reflecting on his appointment Mr. Terrell said, "This is an exciting time in our industry and I am encouraged regarding the growth and
success of Peritus as a leader in subsea and floating systems engineering in the Houston market. Our Peritus personnel are some of the most experienced in the industry and I am extremely proud to be a part of this winning team. I am looking forward to working with our team and the alignment of Peritus with our customers and their project objectives for the future."

Mr. Terrell will immediately assume regional America's responsibility for Peritus.