OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

OTTO MARINE SECURES CHARTER CONTRACT WORTH USD27MILLION


Otto Marine Limited (the "Company" together with its subsidiaries, the "Group") is pleased to announce that its wholly-owned subsidiary, Swordfish 1 Pte Ltd ("Swordfish") had entered into a long term bareboat charter contract (the "Charter") worth USD27 million to charter one unit of 238-men Work Maintenance Vessel (the "Vessel") to an offshore vessels operator (the "Charterer") in the South East Asia region.
The Vessel is expected to be delivered for Charter in 3Q2015.
The Charter is expected to have a positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the Company and the Group for the current financial year ending 31 December 2015.
Save for their shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, whether direct or indirect, on the above transaction.

Submitted by

Michael See Kian Heng
Group Chief Executive Officer / Group Executive Director
11 June 2015

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