Swire Pacific Offshore Group Acquisition of Business and Assets of Salvin (FE) Ltd
June 2007

The Swire Pacific Offshore Group (SPO) and the Salvin Far East group of companies (SFE) have entered into an agreement for SPO to acquire all the assets and business interests of SFE. This transaction will be effective from 1st August 2007.

SFE has a strong track record of servicing various marine exploration contractors. The entire SFE team, including the senior management, led by Mr Ramoo Selvam will join Swire Pacific Offshore in a new business unit.

The acquisition of SFE will provide SPO a strong platform to support the global demand for exploration related resources and logistics. Both SFE ‘s and SPO’s existing and future customers will benefit from the formation of this new business unit within SPO that will be dedicated to service the interest of the survey segment of the marine offshore industry.