The Board of Directors ("Board") of Samudera Shipping Line Ltd ("the Company") refers to its announcement on 8 August 2006 in relation to the option agreement for the sale of property owned by Foremost Maritime Pte Ltd, a wholly-owned subsidiary of the Company. The Board wishes to announce that the option has been exercised by the acceptance of 9% of the consideration from the purchaser.
By order of the Board
Anwarsyah
22 August 2006