Great Eastern Shipping Company Ltd

Great Eastern Shipping Company Ltd (GE Shipping) has informed that Greatship (India) Ltd (GIL) a wholly owned subsidiary of the Company has taken delivery of a 2005 built modern Platform Supply Vessel (PSV). The PSV now named "Greatship Dipti" was contracted by
GIL in September 2006.

In this regards the Company has issued following Press Release :

"Greatship (India) Ltd (GIL), a wholly owned subsidiary of Great Eastern Shipping
Company Ltd took delivery of a 2005 built modern Platform Supply Vessel (PSV). The
PSV now named "Greatship Dipti" is a state of the art vessel of UT 755 LN design equipped
with DP2 capabilities and was contracted by GIL in September 2006.

With the delivery of "Greatship Dipti", the Company now has a fleet of 3 PSV's in the water. GIL along with its subsidiaries has a new building order book of 2 PSV's, 4 Multipurpose Platform Supply & Support Vessels 8 AHTSV's and a 350 ft Jack up Rig."