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ADSB Wins Refit Contract

Maritime Activity Reports, Inc.

August 6, 2007

Abu Dhabi Ship Building (ADSB) has signed a contract with Bahrain’s Ministry of the Interior. The contract, for the refit of ten coast guard patrol boats, marks ADSB’s first export order for refits from another GCC country. The composite patrol boats will be delivered to the ADSB shipyard in Mussafah, Abu Dhabi, where work will continue over a two-year period in the company’s new 4,000 m2 air-conditioned Composite Workshop facility. The vessels will undergo complete refurbishment, including new propulsion and auxiliary machinery, accommodation facilities and navigation equipment. The current order book value for new vessels and refit projects at ADSB is now in excess of $1b and the company is forecasting continuing growth as its business expands throughout the GCC market.

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