AGM Statement

Ocean Wilsons Holdings Ld
16 June 2006


                                 AGM Statement


Ocean Wilsons Holdings Limited announces at its Annual General Meeting, held
today, all resolutions proposed were passed.

The Chief Executive of the Brazilian Operations, Mr C Baiao, made the following
statement regarding the latest trading in Brazil.

•    Business is performing well in 2006
     
•    Tug manoeuvres are up 4% over last year
     
•    Regarding the Tug renewal programme, The Company delivered the last 
     tug-boat of a series of five in the beginning of June.  The tug-boat Volans 
     is 32 metres long with 72 ton bollard pull and will operate in the port
     of Vitoria in the state of Espirito Santo

•    The construction of our new platform supply vessel is in
     progress in our shipyard and is due to be completed by March 2007

•    Container volumes are in line with prior year

•    The civil works to expand the container terminal in Rio Grande are underway 
     and are due to be completed by the end of 2007.



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