OTTO MARINE LIMITED

(UEN : 197902647M)

(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)

DISCLOSURE PURSUANT TO RULE 728 OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX") LISTING MANUAL

The Board of Directors (the "Board") of Otto Marine Limited (the "Company") refers to the announcement titled "Disclosure pursuant to Rule 704(31) and 728 of the Singapore Exchange Securities Trading Limited Listing Manual" made by the Company on 28 October 2011 (the "Previous Announcement").
Further to the Previous Announcement, the Company has received a notification from Business Companion Investments Limited ("BCI"), a company wholly owned by our Chairman and Group CEO, Mr. Yaw Chee Siew, that it has entered into two share charge arrangements in respect of its shares in the Company, as follows:

Name of controlling shareholder

Business Companion Investments Limited

Class and number of shares charged

Any shares deposited with RHB Bank Berhad, Singapore Branch or its nominee,

currently amounting to

236,125,000 ordinary shares

Any shares deposited with DMG & Partners Securities Pte Ltd or its nominee,

currently amounting to

236,125,000 ordinary shares

Percentage of the Company's

issued share capital

Currently approximately

12.49%

Currently approximately

12.49%

The party in whose favour the charge is created

RHB Bank Berhad, Singapore

Branch

DMG & Partners Securities

Pte Ltd

Loan amount the charge is securing

S$13,000,000

S$13,000,000

Accordingly, as of the date of this announcement, BCI has charged in favour of third parties all of its shares in the Company, representing approximately 61.37% of the total issued shares of the Company.
By Order of the Board
See Kian Heng
Chief Financial Officer
20 April 2012

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