The Board noted recent Brazilian media speculation to the effect that Ocean Wilsons Holdings Limited (LSE:OCN)is negotiating the sale of its 57% owned subsidiary, Wilson Sons S.A. (BOVESPA:PORT3). The Company confirms that it is undertaking a strategic review involving the Company's investment in Wilson Sons. That review, which will consider all potential strategic options, is currently at an early stage and there can be no certainty as to its outcome.

The Company has not received any formal proposals from any third party with regard to a potential transaction involving Wilson Sons.