Fairstar Rotates Supervisory Board Chairman

Fairstar Heavy Transport NV (FHT) announces that Supervisory Board Director Frits van Riet will replace Willem Dirkzwager as chairman of the Supervisory Board.

As part of the periodic rotation of board members, Willem Dirkzwager handed over the chairmanship of the Supervisory Board to Frits van Riet at the Company`s AGM this month. Mr Dirkzwager was chairman of the Board since early 2006 and will remain on the Supervisory Board as vice-chairman.

Frits van Riet has been on the Supervisory Board since October 2007. He has 32 years of experience in the marine transportation and offshore industries, of which 22 years in overseas positions for Nedlloyd Lines in Australia, Far East, South Africa and USA (President Nedlloyd Lines USA) and as Managing Director of Neddrill. Mr Van Riet was also CEO of Mammoet Transport and Vice President Eastern Hemisphere with Noble Drilling in Houston. In Houston he was also Chairman of the International Association of Drilling Contractors.

Mr Van Riet has experience and a broad network in the industry as well as extensive experience in operational management of offshore service companies. Mr Van Riet is also on the Supervisory Board of Directors of several other companies.

The full Supervisory Board consists of Mr Frits van Riet, Mr Willem Dirkzwager, Mr Leif O. Aaker and Mr Hans Verhagen.