Smit Internationale N.V. Share Split

During the Annual General Meeting of Shareholders, Smit Internationale N.V. announced that it plans to proceed with the splitting of its ordinary shares. The split will involve exchanging one old share for two new ordinary shares, which will mean that the nominal value of each share will decrease by half from $5.85 to $2.92. The share split will necessitate an amendment to the Articles of Association, in connection with which an Extraordinary Meeting of Shareholders will be organised in the autumn of 2006.