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 Secures Charter Contract worth USD27 Million

One unit of 238-men Work Maintenance Vessel (the "Vessel") will be

delivered to an offshore vessel charterer in 3Q2015

A testament of the Group's strong customer network and strong offshore

chartering capabilities

Singapore, 11 June 2015 - Otto Marine Limited, ("Otto Marine" or the "Group"), a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, is pleased to announce that its wholly-owned subsidiary, Swordfish 1 Pte Ltd ("Swordfish"), has entered into a long-term bareboat charter contract (the "Charter") worth USD27 million.

The 238-men Work Maintenance Vessel (the "Vessel") measures 85 meters in length and 23 meters in width, and has a clear deck area of 635 m2. It's DPS-2 classified, and is equipped with a deck crane of 80-ton lifting capacity. The Vessel is currently under construction, and will be delivered to an offshore vessel operator (the "Charterer") in the South East Asia

region in 3Q2015.

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Commenting on the new charter contract, Mr. Michael See, Group CEO said: "We are pleased to see the order book being further enhanced with the new charter contract. The new Charter demonstrated Otto Marine's credibility as a trusted business partner, as well as our capability to secure new business even in an overall challenging market environment. We expect this contract to contribute positively to the Group's financial performance in financial year 2015.

With the strategy to direct the business focus to offshore chartering, the Group has been making good progress in the implementation of the fleet renewal and upgrading program. We are confident that our young, high-quality, well-diversified and technologically-advanced fleet, will meet customers' requirement in our targeted markets globally, and equip the Group to weather any market volatilities."

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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.
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 Otto Marine Limited

Romil SINGH / Reyna MEI/ Kathy ZHANG Michael SEE

Email : romil@financialpr.com.sgEmail: michaelsee@ottomarine.com

: reyna@financiapr.com.sg

Tel: (65) 6438 2990 Tel: (65) 6863 2366

Fax: (65) 6438 0064

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