Sembcorp Marine Confirms Changes to Seadrill's Jackup Construction Contact

PPL Shipyard, a subsidiary of Sembcorp Marine and Seadrill have agreed to revised terms on the two jackup rigs ordered by Seadrill in June 2008. These terms are mutually beneficial to all parties.

The contract value of the two jackup rigs remains the same at US $430 million. The above is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2009.