OTTO MARINE LTD 
By
(Company Registration Number: 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
Unless otherwise defined, all capitalised terms used herein shall bear the same meaning as in the offer information statement dated 10 July 2013 ("Offer Information Statement" or "OIS") issued by Otto Marine Limited ("Company") in relation to the Company's fully underwritten renounceable rights issue ("Rights Issue").
The Company wishes to announce that the Company has utilised 100% of its Net Proceeds of S$62.8 million from the Rights Issue to repay its outstanding bank loan, thereby reducing the levels of leverage and gearing ratio of the Group.
None of the Net Proceeds was used for working capital purposes. By Order of the Board
Michael See Kian Heng
Executive Director and Group Chief Financial Officer
7 August 2013
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