Release: Berlian Laju Tanker: Fleet expansion and company acquisition

(27 September 2007)--The Board of Directors of PT Berlian Laju Tanker Tbk hereby advises the Shareholders that in July 2007, the Company has taken delivery of three tankers which consist of one stainless steel IMO II chemical tanker with capacity of 7,527 DWT (named MT Fatmawati) and two double hull oil tankers with capacity of 154,970 DWT each (named MT Trirasa and MT Tridonawati).

For the year 2007, the Company has added six tankers which consist of two LPG tankers, two stainless steel IMO II chemical tankers and two double hull oil tankers. With these additional tankers in the fleet, the Company currently owns and operates 65 tankers comprised of 38 chemical tankers, 18 oil tankers, eight gas tankers and one FPSO tanker with total capacity of 1.86 million DWT.

By the resolution of the Extraordinary Meeting of Shareholders held on 24 May 2007, approval has been obtained for the Company’s fleet development program with total planned investment of up to USD 500 million. Therefore the Company will endeavour to expand the fleet and its capacity with a focus on chemical tankers, oil tankers, gas tankers and FPSO/FSO tankers.

In accordance with the Company’s strategy and policy on fleet expansion, the fleet development will be executed through the purchase of newbuildings, second hand vessels, a fleet of vessels or a shipping company acquisition. The Company is currently conducting due diligence on a shipping company abroad. Details of the transaction still cannot be published yet as the Company has entered into a Confidentiality Agreement between the Seller and the Company. The Company will announce details of the transaction to the public and Shareholders once the due diligence process is completed. (end of release)