Acquisition

Fisher (James) & Sons PLC
02 November 2006


For release                                                      2 November 2006

                           James Fisher and Sons plc

            James Fisher Defence Acquires UK Submarine Rescue System

James Fisher Defence Limited, who operate the Royal Navy's submarine rescue
service, has signed an agreement with the Government's Defence Sales Agency to
acquire the operating assets of the UK submarine rescue service, for an
undisclosed amount, in order to provide submarine rescue services to other
nations. The company is working closely with the Defence Export Services
Organisation to market its submarine rescue services worldwide.

James Fisher Defence Limited is a wholly owned subsidiary of James Fisher and
Sons plc (FSJ.L), the UK's leading provider of marine services. Through its
subsidiary, James Fisher Rumic Ltd, the company currently operates and maintains
the LR5 manned rescue submersible, the Scorpio ROV and ancillary equipment under
a contract to the Royal Navy and has played a key role in the development of the
UK's world-leading submarine rescue capability.

The team, based in Renfrew, Scotland, was mobilised to the Kursk disaster in
2000 and in August 2005 rescued seven Russian submariners trapped in the
mini-sub Priz at a depth of 625 feet off Russia's far eastern Kamchatka
peninsula.

Commenting on the agreement, Roger Chapman, Vice Chairman of James Fisher
Defence, said:

'This marks a significant step in the development and future plans for our
submarine rescue capability.'

He added: 'I would like to commend the professionalism of our team, which works
hand in glove with the Royal Navy and the other naval authorities as
demonstrated in the dramatic rescue last year. The submarine rescue assets are
on 24-hour standby to save the lives of crews of stricken submarines. We are
pleased that we are now able to offer this service, using one of the only such
systems in the world, to other nations' navies.'

-ENDS-



Contacts

James Fisher
Defence                  Simon Harris, Managing Director           01229 615 460

James Fisher & Sons plc  Nick Henry, Chief Executive Officer       020 7338 5800
www.james-fisher.co.uk 

James Fisher & Sons plc  Michael Shields, Group Finance Director   01229 615 400

Adventis Financial PR    Peter Binns                               020 7034 4760
                   
                                             

Editor's Notes:

The UK Submarine Rescue Service

The UK Submarine Rescue Service is a 24-hour standby service managed and
operated by James Fisher Rumic. The assets which are being acquired by James
Fisher Rumic consist of the following.

1.       The Scorpio 45 remotely operated vehicle
2.       The LR5 manned rescue submersible
3.       The DISSUB Depressurisation System (DSDS)
4.       INTO - Integrated Navigation Tracking Outfit
5.       TUP - Transfer Under Pressure System
6.       PHS - Portable Handling System

The LR5 is a free-swimming manned submersible capable of rescuing up to 16
submariners at a time from a stricken submarine. The original LR5 was built as a
diver lock-out submersible for offshore operations and has been progressively
developed for submarine rescue operations. The present vehicle was built by
James Fisher Rumic in two phases and is fully certified for a further 20 years.

The Scorpio 45 is a dedicated submarine rescue ROV capable of operating at
depths as low as 3,000 feet and is fitted with specialised manipulators and
toolset.

The vehicle's primary role is to assist in locating a distressed submarine
(DISSUB), survey the damage, and the transfer the life support stores in special
containers via the submarine's escape hatch. The stores necessary to maintain a
safe breathable atmosphere for the survivors over the duration of the rescue
period include oxygen candles, and carbon dioxide absorbent to keep the air
breathable for longer, and medical supplies, if required.

James Fisher Defence Ltd

James Fisher Defence was established in January 2005, bringing together the
defence sector activities of James Fisher and Sons plc including those of James
Fisher Rumic which was formed in 1984 and was acquired by James Fisher and Sons
in 2002. In recent years the company has increased the scope of its activities
and is actively marketing submarine rescue hardware and services to overseas
navies globally.

Last year, the rescue of the seven Russian submariners drew on the support from
the RAF, the US Navy and local Russians to fly the team and equipment from its
Renfrew base, transport it to a waiting ship, secure it to the vessel and reach
the offshore location within 36 hours. It took about 5 hours to cut the
discarded fishing nets which had trapped the submersible. This was achieved amid
estimates that the Russian submariners had less than 10 hours of air left.

James Fisher & Sons

James Fisher & Sons plc, the parent company to James Fisher Defence, is a
leading provider of marine services with its business divided into these
sectors. The group is a market leader in the provision of technical engineering
solutions in the marine environment.

James Fisher has four divisions: Offshore Oil Services, Marine Oil Services,
Specialist Technical Services and Defence.






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