Ezra Receives Full Refund for Cancelled Shipbuilding Contracts

Ezra refers to its SGXNET announcement on March 6, 2009. Following the cancellation of the shipbuilding contracts for the two multifunctional support vessels with Karmsund Maritime Service AS ("KMS"), Ezra has received the full refund guarantee amounts totaling NOK 186 million (around US $28 million), which were advance payments made to KMS for the two contracts.