Proposed Bonus Issue

The Board of Directors ("Board") of Samudera Shipping Line Ltd (the "Company") refers to its announcements dated 28 December 2005, 2 February 2006 and 7 February 2006 in relation to the proposed bonus issue of up to 89,855,200 new ordinary shares of S$0.10 each in capital of the Company ("Bonus Issue").

The Board is pleased to announce that 89,855,199 bonus shares ("Bonus Shares") have been allotted and issued to the shareholders of the Company on 24 February 2006 pursuant to the Bonus Issue. The issued and paid up share capital of the Company, as at 24 February 2006 is S$53,913,119.90 comprising 539,131,199 ordinary shares.

The Bonus Shares will be listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited (the "SGX-ST"), and trading in the Bonus Shares will commence at 9.00 a.m. on 28 February 2006.

By Order Of The Board

Anwarsyah, Executive Director
27 February 2006