Contract update - STX France

Oslo, 4 April 2012

STX France has been informed by Viking River Cruise that they have decided to withdraw from further discussions concerning the previously announced project for two luxury cruise vessels announced on 21 December 2011.

STX France SA is part of STX Europe AS, an international shipbuilding group which aims to be the leading builder of cruise vessels, ferries and other specialized vessels. STX Europe AS is also the majority shareholder in STX OSV Holdings Limited listed on the Singapore Exchange (SGX). The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world. STX Europe comprises 6 shipyards in Finland, France and Norway in addition to 9 shipyards belonging to STX OSV Holdings Limited. STX Europe has STX Europe Group has approximately 14,000 employees. See: www.stxeurope.com

STX Europe's principal shareholder, the international industrial group STX, has approximately 54 000 employees and aims to be a global top player in its core areas; shipping and trade, shipbuilding and machineries, plant and construction, and energy.

STX Europe ASA press release