Havila Shipping - Agreed Contracts

Havila Shipping has entered into a contract with Total Angola for the
AHTS Havila Neptune for a fixed period of 2 years with two options of
6 months each - total 3 years.  The charter starts primo September
this year.

Condux has declared two monthly options for Havila Phoenix which
means that the vessel will be on hire until the end of October.
Condux has option to extend the charter with additional one month.

The company has entered into a contract with Maersk Olie & Gas for
the PSV Havila Princess for a period of four months from primo
September.

The value of the fixed contracts is approximate NOK 200 million based
on today's foreign exchange rates.

Contact:
CEO Njål Sævik  (+47) 909 35 722
CFO Arne Johan Dale (+47) 909 87 706