Press Release by Mermaid Maritime Vietnam JSC, 23rd November 2011

Inauguration of New Office and Workshop in Dong Xuyen Industrial Park, Vung Tau on Friday 25th November 2011 at 10:00 and expansion of scope of business.

Mermaid Maritime Vietnam JSC is kick starting a new era for the company by opening the new office and workshop in Dong Xuyen Industrial Park in Vung Tau on Friday 25th November 2011.

Mermaid Maritime Vietnam JSC is providing quality service of lifesaving appliances, firefighting equipment and other safety equipment for the Shipping Industry and the Offshore Industry (oil and gas) in Vietnam and our safety services are all regulated by IMO (International Maritime Organization) under the United Nations.

Seeing a clear need in the Vietnamese market for certified and approved services for both local and international operators, the founders, led by Mr. Jorgen Lundbaek, decided to establish the Company in Vung Tau in 2004 using their long experience from Thailand in similar business which is going back to 1982.

Mermaid is today the only company in Vietnam who holds all major manufacturers approvals as well as most of the recognized Classification Societies under IACS (International Association of Classification Societies Ltd.) and we do therefore see ourselves as a leader and trendsetter within the safety service market in Vietnam.

Now that the company is well established and well known in Vietnam as a quality service provider we have decided to take the next step. New investors have come to Mermaid - partly as a result of the work we have done during the last 7 years, but also because of the Vietnamese Oil & Gas Industry which are in a very positive development that we expect to continue in the years to come.

With the entrance of our new investor A/S Lauritzen’s Eftf. together with their subsidiary JUTLANDIA Terminal A/S, both from Denmark, a new era has begun for Mermaid Maritime Vietnam JSC.

Our new investors have extensive experience in servicing the offshore industry in the North Sea and they have well established connections to most of the international players in the offshore industry working here in Vung Tau / Ho Chi Minh City. We are recognizing the many similarities between the North Sea off the Danish coast and the East Sea off the Vietnamese coast. It is therefore only natural to transfer this long proven knowhow from Denmark and Europe to Vietnam to the benefit of us all.

The experience within provision of logistic solutions and support functions for the offshore industry which among others comprises Indoor Warehousing & Outdoor Storage, Mixing & Transloading & Storage of Chemicals, Operating own Tank Plants, Pipe Yard, Procurement Service, Stock Control and Waste handling,

is presently under transfer to Mermaid Maritme Vietnam JSC.

As most jobs offshore is a matter of urgency our setup for loading and packing offshore equipment, mixing of chemicals, purchasing etc.is based on flexibility and high level of service – we are flexible so our customers can concentrate on the things they are best at.

To control the business we are implementing ISO 9001, ISO 14001, OHSAS 18001 in 2012.

At Mermaid we are proud of what we are doing and customers are therefore always welcome to visit us and follow and witness our service and work.

For further information please contact:

Mr Klaus Vikkelsoe

General Director

HP.: +84 (0)909 060 064

E-mail:

MERMAID MARITIME VIETNAM JSC.

Road No.12, Dong Xuyen Industrial Park

Rach Dua Ward, Vung Tau City

Tel. : +84 (0)643 613 305~7

Fax : +84 (0)643 613 308

Email :

Website : www.mermaid-safety.vn