Boskalis successfully raises EUR 230 million through equity offering

Papendrecht, 10 December 2009

Royal Boskalis Westminster N.V. (Boskalis) has successfully raised EUR 230 million of equity. A total number of 9,019,606 new ordinary shares (the Shares) were placed, 4,913,568 through an accelerated bookbuild offering (the Offering) and 4,106,038 through a private placement (the Private Placement) with Boskalis’ large shareholders HAL Investments and Delta Lloyd Group. The Shares have been placed at a price of EUR 25.50 per share.

The proceeds of the equity offering will be used to partly finance the intended public offer for Smit Internationale N.V. (see press releases 12 November and 7 December 2009).

Allocation of the Shares has taken place today, 10 December 2009. The payment for and issue and delivery of the Shares is expected to take place on 15 December 2009. The Shares to be issued in the Offering are expected to be admitted to listing on Euronext Amsterdam by NYSE Euronext on 15 December 2009. It is expected that the Shares to be issued to HAL Investments and Delta Lloyd will be admitted to listing on Euronext Amsterdam by NYSE Euronext within a 90 day period from their issuance.

After settlement of the Offering and the Private Placement, Boskalis’ total number of outstanding shares will consist of 98,651,289 shares. ING and ABN AMRO Bank N.V., to be renamed The Royal Bank of Scotland N.V. in due course, acted as Joint Global Coordinators and Joint Bookrunners for the Offering. Fortis Bank Nederland/MeesPierson CFCM and Rabo Securities acted as Co-Lead Managers for the Offering.

Kempen & Co acted as placing agent of the Private Placement and advisor to Boskalis in the context of the Offering.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. We provide creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 10,000 employees.

Royal Boskalis Westminster nv, press release