SvitzerWijsmuller announced today (15th March 2007) that it has decided to waive the final outstanding condition to its A$2.54 recommended cash Offer for all of the shares in Adsteam Marine Limited (“Adsteam”).  Accordingly, the Offer is now unconditional.

Jesper T. Lok, CEO of SvitzerWijsmuller said:
 “Now that the final condition to the Offer has been waived, we look forward to bringing the two  businesses together and to realising our vision of creating a global player in, and a preferred provider of, safety and support services at sea”.

“Ahead of us is the important task of integrating the two organizations. Whereas we feel well prepared, we humbly recognize the importance of the work and are very conscious of not underestimating the task”.

“With more than 4,000 Colleagues, operating 500 vessels in some 35 countries around the World, we have a unique and unequalled opportunity to be the preferred provider globally of safety and support services at sea”.

As at 8.00am (AEST) on 15th March 2007, SvitzerWijsmuller had received acceptances and acceptance instructions equal to 84,78% of Adsteam’s issued shares.

The Offer is scheduled to close at 7.00pm (AEST) on 23 March 2007 and Adsteam Shareholders are encouraged to follow the recommendation of the Adsteam Board and accept the Offer without further delay.

For further details please contact:

Denmark:
SvitzerWijsmuller A/S
Mr. Bo V. Laub
Phone: +4539193919

Australia:
ThirdPerson
Ms. Jan Eakin
Phone: +61-2-82986100
Mobile: +61-422997161

United Kingdom:
Financial Dynamics
Mr. Simon Elliott
Phone: +44-77-11-387-084
Mobile: +44-207-269-9318