Increase In Paid-Up Share Capital Of Foremost Maritime Pte Ltd

The Board of Directors of Samudera Shipping Line Ltd (the "Company") wishes to announce the increase in investment of the Company in Foremost Maritime Pte Ltd ("Foremost"), the Company's wholly-owned subsidiary incorporated in Singapore by way of a cash injection of US$3,420,000 (equivalent to S$5,574,600). With this increase, the paid-up capital of Foremost has increased to S$78,536,611 from S$72,962,011. The purpose of the increase in the share capital is to finance the construction of container ships.

The investment is funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company and its subsidiaries for the current financial year.

Messrs Anwarsyah, Hamdi Adnan and Dhrubajyoti Das, whom are Directors and shareholders of the Company, are also the Directors of Foremost.

Save as disclosed above, none of the Directors or Substantial Shareholders of the Company has any interest, direct or indirect, in the above transaction.

By Order Of The Board

Anwarsyah, Executive Director
27 January 2006