OTTO MARINE LIMITED

(UEN : 197902647M)

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

INVESTMENT IN SUBSIDIARY


The Board of Directors of Otto Marine Limited (the "Company") is pleased to announce that pursuant to an investment agreement dated 16 September 2013 (the "Agreement") entered into between Go Marine Investments Private Limited ("GMIPL"), Go Marine Group Pty Ltd ("Go Marine") and a Singapore based private equity firm (the "Investor"), the Investor has subscribed for S$10 million redeemable preference shares in GMIPL.
The issuance and allotment of the redeemable preference shares in GMIPL has been completed on 18
September 2013.
In connection with the investment in GMIPL by the Investor, Go Marine has provided a corporate guarantee in favour of the Investor in respect of all of GMIPL's obligations under the Agreement. GMIPL is a wholly owned subsidiary of Go Marine.
The directors of the Company have taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate in all material aspects as at the date hereof and that no material facts have been omitted from this announcement, and they jointly and severally accept responsibility accordingly.

By Order of the Board

Michael See Kian Heng
Executive Director and Group Chief Financial Officer
18 September 2013

distributed by