SvitzerWijsmuller A/S (“SvitzerWijsmuller”) today announced that it has extended the offer period for its recommended cash offer for all of the shares in Adsteam Marine Limited (“Adsteam”) to 7.00pm (AEST) on 12 January 2007.

SvitzerWijsmuller continues to work in conjunction with Adsteam to resolve the outstanding UK competition commission issues related to the transaction. The United Kingdom Office of Fair Trading referred the offer to acquire all of the shares in Adsteam to the UK Competition Commission on 31 August 2006. The UK Competition Commission is expected to report on its decision by 14 February 2007.

The Board of Adsteam continues to recommend its shareholders accept the A$2.54 cash offer. Last month SvitzerWijsmuller determined to allow Adsteam shareholders to retain the whole of the interim dividend of 4.1 cents declared by Adsteam. The payment of this dividend on 30 October 2006 effectively increases the total consideration offered under the offer to A$2.581 cash per Adsteam share.

SvitzerWijsmuller reserves the right to further extend the offer period, to declare the offer free from the UK competition approval condition or to determine to allow the offer to lapse in accordance with the offer terms and the Corporations Act, articularly if it considers that circumstances change.

For further information please contact:

SvitzerWijsmuller A/S
Jesper T. Lok
Chief Executive Officer
SvitzerWijsmuller A/S
Ph +45 39 19 39 19

Media enquiries:
Jan Eakin
Third Person
Ph +61 (02) 8298 6100