Stolt Offshore Completes Debt for Equity Swap

Stolt Offshore S.A. (Nasdaq: SOSA; Oslo Stock Exchange: STO) reports that the previously announced debt for equity swap, under which the Stolt-Nielsen Transportation Group, a wholly owned subsidiary of Stolt-Nielsen S.A., has subscribed for an additional 22,727,272 Common Shares in consideration for the cancellation of $50 million of subordinated loans to Stolt Offshore, had been completed. The number of Common Shares issued is now 161,489,487.