*New Contact* Swiber

Swiber just announced that it has secured a Letter of Award from a leading oil and gas operator in South East Asia. The scope of work comprises the transportation and installation of heavy structures. The contract sum will range between US$17m to US$27m depending on the options provided in the contract. The work will commence in 2Q012 and is expected to be completed in two months. With this latest contract win, we estimate the current order book for Swiber now stands at about US$856m.