Labroy Marine Secures Contract

Labroy Marine Ltd. announced that the company's Singapore subsidiary Labroy Shipbuilding And Engineering Pte Ltd has signed a shipbuilding contract worth $34,575,000m for the construction of one unit of 30,000 DWT self discharging cement carrier scheduled to be delivered in March 2008. This shipbuilding contract is not expected to have any material effect on the earnings per share and net tangible assets per share of Labroy Group in the current year.