LAM.L Regulatory News (LAM)

Lamprell plc

7 April 2011

THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

Lamprell plc - Possible Offer for Maritime Industrial Services Co. Ltd. Inc

Lamprell plc ("Lamprell" or the "Company") notes the recent press speculation regarding Maritime Industrial Services Co. Ltd Inc ("MIS"). Lamprell confirms that it has entered into a letter of understanding with MIS in respect of a potential offer to purchase 100% of the shares in MIS at a price of NOK 38 per share, but discussions with MIS are at a very preliminary stage.

Any potential offer remains subject to the fulfilment of a number of conditions, including the satisfactory completion of due diligence. Therefore there can be no certainty that an offer will be made. It is anticipated that any offer that is made would be financed from an issue of equity to Lamprell's shareholders and new debt facilities.

A further announcement will be made if appropriate.

- ENDS -

Enquiries:

Lamprell plc +44 (0)20 7920 2347

Nigel McCue, Chief Executive Officer

Scott Doak, Chief Financial Officer

J.P. Morgan Cazenove (lead financial adviser) +44 (0)20 7155 2828

Nicholas Garrett

Guy Marks

HSBC (co-financial adviser) +44 (0)20 7991 8888

Abbas Merali

Nick Donald

Bank of America Merrill Lynch (co-financial adviser) +44 (0)20 7996 1000

Andrew Osborne

Tony White

M:Communications, London

Patrick d'Ancona +44 (0)20 7920 2347

Andrew Benbow +44 (0)20 7920 2344

Notes to editors

·; Lamprell, based in the UAE, has played an increasingly prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years, in later years providing specialised services to the offshore oil and gas industry.

·; Lamprell's three primary facilities are in Port Khalid and the Hamriyah Free Zone, in the Emirate of Sharjah, and in the Jebel Ali Free Zone, in the Emirate of Dubai, all of which are in the UAE.

·; The principal markets in which Lamprell operates, and the principal services it provides, are:

·; Upgrade and refurbishment of offshore jackup rigs;

·; Engineering, procurement and construction of jackup rigs, liftboats and drilling related equipment;

·; New build construction for the offshore oil and gas sector, including Floating Production, Storage and Offloading systems and other offshore and onshore structures; and

·; Oilfield engineering services, including the upgrade, refurbishment and new building of land rigs.

These written materials do not contain or constitute an offer of or the solicitation of an offer to buy or subscribe for securities to any person in Australia, Canada, Japan or the United States or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from, or in a transaction not subject to, registration. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the US Securities Act of 1933, as amended, or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.