Acquisition Of Properties

The Board of Directors ("Board") of Samudera Shipping Line Ltd ("Company") refers to its announcement on 22 March 2006 in relation to the options to purchase 3 floors at 6 Raffles Quay. The Board is pleased to announce that the Company and its wholly-owned subsidiary, Foremost Maritime Pte Ltd, have exercised the options by payment of 9% of the consideration to the Vendors. Completion of the purchase remains subject to the fulfillment of conditions precedent as referred to in the announcement of 22 March 2006.

By order of the Board

04 April 2006