Deep Sea Supply to Acquire Three Newbuilds

Deep Sea Supply has entered into agreements for acquisition of three newbuilding contracts; one Platform Supply Vessel (VS470 MKII) built in Norway with expected delivery in May 2008, and two AHTS-vessels (12,000 BHP) built in Singapore with expected deliveries in December 2008 and March 2009. The total price for the newbuilding contracts is approximately USD100 mill.