Miclyn Express Offshore Limited

ABRN 141 683 552

3 HarbourFront Place

#11-01/04 HarbourFront Tower Two

Singapore 099254

Telephone: +65 6545 6211

Fax: +65 6545 9211

Internet: www.miclynexpressoffshore.com

Date: 31 May 2013

Share Options and Share Rights

Miclyn Express Offshore wishes to announce that: -
1. 2,060 ordinary shares have been issued to an eligible employee on 31 May 2013 under the
Employee Retention Plan (ERP).
2. The following share options and shares rights have lapsed due to staff movements: -
(i) 20,116 Share Options under the Employee Incentive Plan (EIP) expiring 26 March 2015 (ii) 20,753 Share Rights under the ERP
The balance of share options and share rights after the above movements are as follows:- (i) 2,658,635 Share Options under the EIP.
(ii) 343,206 Share Rights under the ERP.

An updated Appendix 3B is accompanied with this announcement. Kind Regards
Diederik de Boer

Miclyn Express Offshore Limited

Chief Executive Officer

About Miclyn Express Offshore

Miclyn Express Offshore is a leading provider of service vessels to the expanding offshore oil and gas industry, across South-East Asia, Australia and the Middle East. The Group charters a diverse range of OSVs, Crew/Utility Vessels, Tugs, Barges and Coastal Survey Vessels to a wide range of customers operating across all phases of the offshore oil and gas cycle, namely exploration, development and production, as well as project transportation and the offshore civil construction industry. The Group operates a vertically integrated business model through its vessel chartering and shipyard businesses. The shipyard provides in-house vessel newbuilding, conversion, repair and maintenance services, as well as third party vessel conversion, repair and maintenance services when spare capacity exists.

For further enquiries, please contact:

Adam Clayton

GM, Corporate Finance & Investor Relations

Tel: +65 6829 6122 Mob: +65 8298 5155

Appendix 3B New issue announcement Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

Name of entity

MICLYN EXPRESS OFFSHORE LIMITED

ABN

141 683 552

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).


1 +Class of +securities issued or to be issued

Ordinary Shares


2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

2,060


3 Principal terms of the

+securities (eg, if options,

exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the

conversion price and dates for conversion)

Fully paid ordinary shares

+ See chapter 19 for defined terms.

01/08/2012 Appendix 3B Page 1

Appendix 3B New issue announcement



4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?
If the additional securities do not rank equally, please state: