Mermaid Extends Subsea Services to South America

Mermaid Maritime Public Company Ltd.

Mermaid announced that its wholly owned subsidiary Mermaid Offshore Services Ltd. ("MOS"), a leading provider of sub-sea engineering services to the offshore oil and gas industry, is presently providing offshore installation services in Brazil for Petrobras through a contract with Global Industries Brazil potentially worth US $14-18 million.

The work involves saturation and air diving services supported by remotely operated vehicle ("ROV") intervention, all utilizing the DP2 Dive Support Vessel "Mermaid Commander".