Ezra Strengthens Management Team

Ezra Holdings Limited has appointed Mr. Tay Chin Kwang as the Group's first Finance Director.

Mr. Tay, a fellow member of the Institute of Certified Public Accountants, has over 17 years of experience in various accounting, finance management and business advisory functions across a broad spectrum of companies. He was also previously the Chief Financial Officer of a Singapore Exchange Main Board-listed company.

Said Ezra's Managing Director Lionel Lee: "Due to the expanding scale and rising complexity of our businesses, it is timely for Ezra to engage an experienced and dynamic finance individual like Chin Kwang to reinforce our management team. Chin Kwang's valuable experience in M&As, pre-IPOs, corporate finance as well as business development and advisory work will add depth to Ezra's management as the Group moves into our next growth phase.

"Having set ourselves the goal of being a leading integrated global offshore solutions provider, we are constantly seeking opportunities to grow our businesses and always on the lookout for strategic acquisitions and partnerships. Chin Kwang is familiar with the securities markets and well-versed in various financial instruments, and we are delighted to welcome yet another veteran and expert to our team," he added.

Mr. Tay graduated with a Bachelor of Accountancy from the National University of Singapore and started worked in one of the Big Four audit firms, where he was involved in accounts supervision and budgeting.

"Ezra has rapidly expanded its regional operations over the past few years and I am delighted with the opportunity to participate in its current expansion into the international league, and certainly look forward to working with their very experienced and dynamic management team," said Mr. Tay Chin Kwang, Ezra's new Finance Director.

Indeed Ezra has been active in several corporate deals in recent months. In April, the Group acquired a 22% stake in SGX-listed Nylect Technology Limited, a 25-year old mechanical and engineering group which has diversified into the offshore and marine logistics and support services sector through subsidiary Northern Offshore Pte Ltd.

Ezra also successfully listed its 88%-owned EOC Limited on the OTC of the Oslo Stock Exchange earlier this year and is currently preparing EOC for a main board listing on the same exchange before end-2007.