Ezion Holdings Ltd : Ezion Awarded A Letter Of Intent From A South East Asian State-Linked Corporation For The Charter Of One Unit Of Liftboat Over A Four Year Period With An Approximate Contract Value Of Up To US$ 116.8 Million

EZION HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No 199904364E)

EZION AWARDED A LETTER OF INTENT FROM A SOUTH EAST ASIAN STATE-LINKED CORPORATION FOR THE CHARTER OF ONE UNIT OF LIFTBOAT OVER A FOUR YEAR PERIOD WITH AN APPROXIMATE CONTRACT VALUE OF UP TO US$ 116.8 MILLION

The Board of Directors of Ezion Holdings Limited (the "Company" or "Group") is pleased to announce that the Group has been awarded a letter of intent from a South East Asian State- linked corporation for the charter of one unit of Liftboat over a 4 year period with an approximate contract value of up to US$ 116.8 million.

The Liftboat is expected to be deployed in the waters of South East Asia upon its completion around the end of 2014.

Subject to the final definitive agreement between the Group and the client, the charter is expected to commence in 1st quarter of 2015.

The abovementioned project is not expected to have a material impact on the Group's earnings per share or net tangible assets per share for the financial year ending 31st December 2013.

None of the Directors or substantial shareholders of the Company has any interest, directly or indirectly, in the abovementioned transaction, save for their shareholdings in the Company.

By Order of the Board

Lim Ka Bee

15 January 2013

About Ezion Holdings Limited ):

Ezion Holdings Limited ("Ezion" and together with its subsidiaries the "Group") has 2 main business divisions that specialises in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries.
The Group is the owner of one of the largest and most sophisticated class of Multi-Purpose Self Propelled Jack-up Rigs ("Liftboats") in the world and one of the first to promote the usage of Liftboats in Asia & Middle East. Ezion's Liftboats are used mainly for well-servicing, commissioning, maintenance and decommissioning of offshore platforms.
The Group is also the owner of a fleet of vessels, consisting of tugs, ballastable barges, offshore support vessel and self-propelled barge that are used in the provision of offshore marine logistics and support services to the offshore oil and gas industries. The Group's fleet of ballastable barges, one of the largest in the region, has been specially reinforced and modified to carry the prefabricated modules in the construction of LNG extraction facilities and jackets for the offshore oil and gas industries. The Group also co-owns a Multi-Purpose Vessel to provide logistics support of equipment from America to Australia and Papua New Guinea.
The Group's operating companies also offers a range of services to include marine consulting related to the development & construction and marine logistic solutions for marine offshore facilities. Branch offices in Korea, The United States of America and Australia provide logistics, supercargo, engineering and freight forwarding to complement existing operations.

Contact Information:
Ezion Holdings Limited Mr Chew Thiam Keng Chief Executive Officer Tel: [phone]
Fax: [phone]
Email: [e-mail]