FHT Awarded Amenam Contract

Rotterdam based Fairmount Heavy Transport (FHT) NV has been awarded the contract by Saibos Akogep SNC to transport and install the AMP2 Topside for Total. Due to contractual requirements, Fairmount Heavy Transport is requested to keep commercial terms confidential. The scope of the work for Fairmount Heavy Transport includes the engineering of the transport and installation project, the load out of the AMP2 Topside (about 11,000 tons) on the barge Fairmount Fjell in the tidal port of Pasir Gudang, Malaysia, the transportation of this module from Malaysia to the float-over location offshore in Nigeria and the float-over, positioning and installation of the AMP2 Topside on its jacket. The contract will occupy the Fairmount Fjell for June to September 2006. The project will start directly after Fairmount Fjell’s maiden project for which it is currently underway to Zadar to load the jack-up drilling rig Trident IV for transport to Malabo, Equatorial Guinea for Transocean. Although the delivery of the converted vessel will most likely be pushed back a couple of months, the Company's Board of Directors is of the opinion that this contract will generate a financial contribution superior to the original alternative of being idle until starting the conversion in July 2006.