Shareholders Approve Sealift Name Change to Dockwise

At the Annual General Meeting of Shareholders on July 30, 2007, shareholders approved the name change of Sealift Ltd to Dockwise Ltd. This name change will take effect from July 31, 2007 onwards.

The Dockwise Group of companies is one of the world's leading integrated heavy lift services providers. Following the recent combination with its parent company Sealift Ltd, the Dockwise Group of companies currently owns a fleet of 22 vessels, of which 17 are semi-submersible heavy transport vessels and the remaining 5 are due to be converted into semi-submersible heavy transport vessels. The Dockwise Group of companies is able to transport the heaviest cargos over vast distances. In addition, the Dockwise Group of companies provides its customers with high value added services such as engineering, project management and front-end engineering design, particularly in the transportation and installation of offshore structures business. This capability has been further enhanced by the recent acquisitions of Offshore Kinematics Inc and Ocean Dynamics LLC.