JES International Holdings Limited: UPDATE ON CONTRACTS

4 October 2010

The Directors of JES International Holdings Limited (the “Group”) wish to announce that, in accordance to its policy of recognizing orders which are effective and initial deposits which have been received, the Group has entered into the following new shipbuilding contracts:

(i) A shipbuilding contract with Pitiousa Shipping SA, a company incorporated in Panama, for the construction and sale of one (1) unit of 95,000 deadweight tons (“DWT”) bulk carrier. The delivery of the vessel is expected to take place in the year 2012.

(ii) Shipbuilding contracts with Sammok Shipping Co., Ltd, a company incorporated in South Korea, for the construction and sale of two (2) units of 82,000 DWT bulk carriers. The delivery of the vessels is expected to take place in the years 2011 and 2012, respectively.

(iii) Shipbuilding contracts with a customer’s nominee companies incorporated in the People’s Republic of China for the construction and sale of five (5) units of 47,500 DWT bulk carriers. The delivery of the vessels is expected to take place in the year 2012.

The Company will release further announcement(s) of any material information relating to these shipbuilding contracts as and when it arises.

JES International Holdings Limited