BOURBON (EPA:GBB) Bourbon : Press Release - 9 vessels sold and bareboat chartered

Transparency directive : regulatory news

04/09/2013 07:00

PRESS RELEASE

                                                    Paris, September 4, 2013

              Update on the "Transforming for beyond" action plan
              The first 9 vessels are sold and bareboat chartered

Following the transfer of ownership of the first 9 vessels to the Chinese
company ICBC Financial Leasing ("ICBCL") as part of a 51 vessel sale and
bareboat commitment and the payment of US$144 million, BOURBON announces that
the ten-year bareboat charter period of those 9 vessels by BOURBON will
commence today.

As announced last week, the transfer of the remaining 15 vessels currently
under operation is expected to be completed within two months and the transfer
of the 27 vessels under construction within 10 months.

On April 9, 2013, BOURBON announced that the terms of the first phase of the
"Transforming for beyond" action plan were signed with ICBCL for a ten-year
fixed rate (10.66%) bareboat charter of up to 51 supply vessels either in
operation (24 on that date) or under construction (27 with delivery expected
before June 2014) for a total of up to US$1.5 billion.

FINANCIAL CALENDAR

  * 3rd Quarter 2013 revenues press release               November 6, 2013

  * 4th Quarter 2013 & full year 2013 revenues
    press release                                         February 5, 2014

  * 2013 Annual Results press release and presentation    March 5, 2014

About BOURBON

As a leader in offshore marine services, BOURBON offers the most demanding oil
& gas companies a comprehensive range of surface and subsea marine services for
offshore oil & gas fields and wind farms. These services are based on an
extensive range of latest-generation vessels and the expertise of more than
10,000 competent professionals. The Group provides local service through its 27
operating subsidiaries, close to clients and their operations, and it
guarantees the highest standards of service quality and safety worldwide.

BOURBON has two Activities (Marine Services and Subsea Services) and also
protects the French coastline for the French Navy.

In 2012, BOURBON posted revenues of EUR1.187 billion and as of June 30, 2013,
it operated a fleet of 472 vessels.

Under its "BOURBON 2015 Leadership Strategy" plan, the Group is investing in a
large fleet of innovative and high-performance offshore vessels built-in
series.

Announced in March 2013, the latest action plan "Transforming for beyond" in
its financial aspect consists of selling up to 30% of the supply vessels'
fleet, up to US$2.5 billion, and retaining the vessels on bareboat charter for
a period of 10 years. The first phase of the program has been signed for 51
vessels and up to US$1.5 billion with ICBC Financial Leasing.
Through "Transforming for beyond", BOURBON wants to enlarge the scope of
achievable strategies beyond 2015 and be ready to deliver growth and value
creation further.

Classified by ICB (Industry Classification Benchmark) in the "Oil Services"
sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is
included in the Deferred Settlement Service SRD, in the SBF 120 and CAC Mid 60
index.

About ICBC Financial Leasing Co., Ltd.

ICBC Leasing focus is commodities and energy shipping. They are currently
managing a fleet of some 200 vessels consisting of dry bulk, tanker,
containership, PCTÇ Luxury Cruise Vessel, Offshore Support Vessel, Drilling
Rigs, Chemical Tankers and inland general cargo vessels. Meanwhile ICBC Leasing
also actively supports the development of the maritime economy and is expanding
to offshore industry.

Based on its well defined client orientation, abundant operational experience
and professional management in shipping, ICBC Leasing provides a systematic
integrated service for all segments of domestic and foreign shipping
enterprises.

In addition, through collaboration with classification societies, ship research
institutes and ship-owners' associations, ICBC Leasing is making contribution
to the health and sustainability of the shipping industry by actively
participating in the design, manufacturing and operation of vessels aiming to
improve environmental friendliness, economic efficiency and operational
effectiveness of vessels.

CONTACTS

PR Agency: Publicis Consultants

Jérôme Goaer                +33 (0)1 44 82 46 24 -
                            jerome.goaer@consultants.publicis.fr
Véronique Duhoux            +33 (0)1 44 82 46 33 -
                            veronique.duhoux@consultants.publicis.fr
Vilizara Lazarova           +33 (0)1 44 82 46 34 -
                            vilizara.lazarova@consultants.publicis.fr
BOURBON

Investors - Analysts - Shareholders Relations

James Fraser, CFA     +33 (0)4 911335 45 -
                            james.fraser@bourbon-online.com
Communication Department
Christa Roqueblave     +33 (0)1 40 13 86 06 -
                            christa.roqueblave@bourbon-online.com

                            www.bourbon-online.com

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BOURBON (EPA:GBB) Bourbon : Press Release - 9 vessels sold and bareboat chartered

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