OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

MEDIA RELEASE - FOR IMMEDIATE RELEASE Otto Marine clinches AUD57 million worth of charter contracts in Australia for two of its large Deep Water AHTS vessels

16,300 BHP DP2 AHTS vessels, GO Sirius and GO Spica, deployed in July and

August 2014 respectively to two Oil Majors

Expanding the Group's Australian presence with Oil Majors in Deep Water

Anchor Handlers

Singapore, 26 August 2014 - Otto Marine Limited, ("Otto Marine" or the "Group"), a leading offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, is pleased to announce that the Group has secured time charter contracts with two Oil Majors for its Deep Water Anchor Handlers, GO Sirius and GO Spica, worth AUD57 million.

Employed in drilling and pre-lay support, the 16,300 BHP DP2 AHTS vessel GO Spica with the 210 tonnes Bollard Pull, will be mobilized to Australia for a long term charter off the North

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West coast of Australia in August 2014. This vessel will be operated by the Group's wholly- owned subsidiary, GO Marine Group ("GO Marine").

In addition to the GO Spica, another of the Group's 16,300 BHP Vessel, GO Sirius, has secured term work out of Darwin in support of another Oil major. The GO Sirius has been working in Australia for the past two years and has obtained a very good track record with multiple clients in achieving almost seamless back to back contracts in supporting drilling and construction projects.

"The Group has a long and successful track record in working with the Oil majors. We are again honoured to have been selected and we look forward in maintaining our long standing relationships with this key client. It is with great pride that we see the GO Spica going to Australia to join the GO Sirius as part of our Deep Water support fleet. The Group's focus is to continue to divest from our smaller tonnage whilst focusing on a Deep Water Anchor Handlers, PSV's and IMR vessels around the world" Mr. Garrick Stanley, Chief Executive Officer

About Go Marine

Go Marine is an Australian-incorporated company in the business of providing offshore and inshore marine services to the oil and gas industry. Its core competencies include: (a) ship management; (b) marine / construction crewing; (c) marine consultancy; (d) rig moving; and (e) the supply of anchor handlers, barges, PSV's and tugs to the oil and gas industry.
It meets the needs of the clients along the entire supply chain from warehousing and distribution through to its inshore fast response vessels and utility tugs to its flagship offshore services of crewing, ship management and rig moving.
More information is available at the website: www.gomarinegroup.com.au

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About Otto Marine Limited (OTML.SP)

Otto Marine Limited ("Otto Marine" or the "Company") is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion.
Headquartered in Singapore, the Company owns/leases and operates 64 offshore vessels and one of the largest shipyards in Batam, Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to ABS, DNV and Norwegian class standards. Its customers are primarily deep sea and offshore operators and equipment companies who provide logistics support and offshore services to companies operating globally in the oil and gas industry.
Otto Marine's specialized approach has allowed it to build up its expertise operating a large offshore fleet and through its shipyard constructing high specification deep sea and offshore support vessels. This quality and level of sophistication has enabled the Company - as one of the few in Asia - to gain recognition as a Marine Services company operating a large deepwater fleet of support vessels with its shipyard focusing on its fabrication, ship repair and building for local content requirements of its clients.

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Otto Marine was successfully listed on the Main Board of Singapore Exchange Securities Trading Limited (the "SGX-ST") on 28 November 2008. For more information, please visit the Company's website at http://www.ottomarine.com

Issued for and on behalf of Otto Marine Limited

For more information please contact: Financial PR Pte Ltd

Romil SINGH / Michelle LIAN / Kathy ZHANG

Email: romil@financialpr.com.sg/ michelle@financialpr.com.sg/ staff@financialpr.com.sg

Tel: (65) 6438 2990

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