Davie Yards Welcomes the Creation of Dedicated Shipyards

Lévis, Québec, June 3, 2010 – Davie Yards (“Davie” or the “Corporation”) welcomes the announcement of the National Shipbuilding Procurement Strategy by the Government of Canada creating dedicated shipyards for the construction of the large ships included in the federal fleet renewal program.

“We are pleased that the government is moving forward with this strategy that will ensure a balanced workload in the shipyards for the years to come and help develop a strong expertise in shipbuilding in Canada. This is good news for Davie and the entire Canadian marine industry”, said the President and CEO of Davie, Mr. Gustav Johan Nydal.

Davie Yards Inc.