Boskalis abandons intended public offer for Smit

With reference to the press releases dated 15 September and 10 October 2008 regarding the intention of Royal Boskalis Westminster nv (“Boskalis”) to make a public offer (the “Offer”) for all the issued and outstanding ordinary shares in the issued share capital of Smit Internationale nv (“Smit”), Boskalis hereby announces that it has abandoned its intended Offer.

Peter Berdowski, CEO Boskalis:

“Over the past couple of months we have had discussions with Smit, both at the level of the Board of Management and the Supervisory Board. In these meetings various Smit break-up scenarios were suggested and discussed by both parties.

Unfortunately we were not able to reach a transaction structure that is supported and recommended by the Board of Management and Supervisory Board of Smit.

In view of the changed conditions in the financial markets and the market in general, we believe it is irresponsible to pursue the offer without support and cooperation from the Board of Management and Supervisory Board of Smit.”

Royal Boskalis Westminster nv, press release