Endorsements received for the development of a marine
supply base in the northern territory of Australia

1 March 2013

The Board of Directors of Ezion Holdings Limited (“Ezion” or “the Company”) refers to the announcement made on 19th July 2010 in relation to the Company’s entry into a memorandum of agreement to secure a land lease in Australia for the development of a marine supply base to support the offshore oil and gas industry. The Company is pleased to announce that the Company has received endorsements for it to proceed with the project (“Supply Base”).

The Supply Base is near the main passage for marine activities for oil and gas projects in Northwest Australia, Papua New Guinea and Timor-Les te and in close proximity to oil and gas projects in the Northern Territory of Australia. Located North of Darwin in Apsley Strait between Melville Island and Bathurst Island, the Supply Base is naturally sheltered from cyclones with a dockside water depth of 12 meters and deep water access from sea.

Ezion has received letter of intents from several multinational companies who are supporting the offshore oil and gas activities in the vicinity for the use of the Supply Base.

There will be certain engineering and developmental works undertaken for the Supply Base after which the Supply Base is expected to be able to provide its basic load out and lay down services to its customers by the end of 2013.

The above-mentioned transaction is not expected to have a material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 31st December 2013.

None of the directors or substantial shareholders of the Company has any interests, direct or indirect in the above mentioned transaction save for their shareholdings in the Company.

About Ezion Holdings Limited
Ezion Holdings Limited (“Ezion” and together with i ts subsidiaries the “Group”) has 2 main business divisions that specialises in the developm ent, ownership and chartering of strategic offshore assets and the provision of offshore marin e logistics and support services to the offshore oil and gas industries.

The Group is the owner of one of the largest and mo st sophisticated class of Multi-Purpose Self Propelled Jack-up Rigs (“Liftboats”) in the world a nd one of the first to promote the usage of Liftboats in Asia & Middle East. Ezion’s Liftboats are used mainly for well-servicing, commissioning, maintenance and decommissioning of o ffshore platforms.

The Group is also the owner of a fleet of vessels, consisting of tugs, ballastable barges, offshore support vessel and self-propelled barge that are us ed in the provision of offshore marine logistics and support services to the offshore oil and gas in dustries. The Group’s fleet of ballastable barges, one of the largest in the region, has been specially reinforced and modified to carry the prefabricated modules in the construction of LNG ex traction facilities and jackets for the offshore oil and gas industries. The Group also co- owns a Multi-Purpose Vessel to provide logistics support of equipment from America to Aust ralia and Papua New Guinea.

The Group’s operating companies also offers a range of services to include marine consulting related to the development & construction and marin e logistic solutions for marine offshore facilities. Branch offices in Korea, The United Sta tes of America and Australia provide logistics, supercargo, engineering and freight forwarding to c omplement existing operations.

Ezion Holdings Limited press release