Amendments to Shipbuilding Contracts

Hong Kong, 13 December 2010
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Reference is made to the Announcements and the Circulars in connection with, inter alia, the Shipbuilding Contracts entered into by the Purchasers respectively with the Sellers for the construction of the Vessels.

On 13 December 2010, the Purchasers each entered into an addendum to each of the Shipbuilding Contracts with the Sellers to revise the date of delivery of the Vessels.

Revision of Delivery Dates
On 13 December 2010, the Purchasers each entered into an addendum to each of the Shipbuilding Contracts with the Sellers, pursuant to which the date of delivery of the First Vessel has been revised from the fourth quarter of 2012 to the first quarter of 2013, the date of delivery of the Second Vessel has been revised from the second quarter of 2013 to the fourth quarter of 2013, the date of delivery of the Third Vessel has been extended one month and remaining in the first quarter of 2013 and the date of delivery of the Fourth Vessel has been revised from the second quarter of 2013 to the fourth quarter of 2013, with all the other terms of the Shipbuilding Contracts remaining unchanged.

Orient Overseas (International) Limited (OOIL)