JES International Holdings Limited: Update On Contracts

6 December 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 Samsun Logix Corporation, a company incorporated in South Korea, for the construction and sale of one (1) unit of 180,000 deadweight tons (“DWT”) bulk carrier. The delivery of the vessel is expected to take place in the year 2012.

(ii) Shipbuilding contracts with The Shipping Corporation of India Ltd, a company incorporated in India, for the construction and sale of four (4) units of 82,000 DWT bulk carriers. The delivery of the vessel is expected to take place in the year 2012.

(iii) A shipbuilding contract with a customer incorporated in the Republic of Liberia for the construction and sale of one (1) unit of 82,000 DWT bulk carrier. The delivery of the vessel 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