OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

INCORPORATION OF AN ASSOCIATED COMPANY


The Board of Directors of Otto Marine Limited (the "Company") wishes to announce that its associated company, Go Marine Services (M) Sdn. Bhd. (formerly known as Expro Synergy Sdn Bhd), has incorporated a wholly-owned subsidiary, the details of which are stated below:

Name of Company

:

Workboats 1 Limited

Paid up Share Capital

:

USD1.00

Principal Activity

:

Owning and chartering of vessels

Place of incorporation

:

Labuan, Malaysia

Date of Incorporation

:

27 January 2014

The investment in the above subsidiary is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share or consolidated earnings per share of the Company and the Group for the current financial year ending 31 December 2014.
By Order of the Board
Michael See Kian Heng
Executive Director and Group Chief Financial Officer
29 January 2014

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