BOURBON (EPA:GBB) Bourbon : plan to sell Bulk Freight activity

Transparency directive : regulatory news

19/10/2010 17:45

Paris, October 19, 2010,

BOURBON announces its plan to sell its Bulk Freight Operator activity and
focuses on marine services to the offshore oil and gas industry

BOURBON has signed a letter of intent to sell its Freight Operator activity to a
company which is 100% controlled by Mr. Jean-Louis Bottaro and his family. Mr
Bottaro founded and managed Setaf from 1968 to 2008.

In this sale the cement carrier Endeavor remains the property of BOURBON who
continues to operate it within the framework of a service contract with the
buyer.

"The development of our Freight Operator activity requires investments that
BOURBON would not be able to make for several years, due to the decisions
announced in the BOURBON 2015 Leadership Strategy. This is why the sale to a
professional in the Bulk field is the best solution for the development of this
activity", said Jacques de Chateauvieux, CEO of BOURBON. "With this sale,
BOURBON becomes a pure player in marine services to the offshore oil and gas
industry, focused on the implementation of its strategic plan".

The sale should be completed before the end of the year and should generate a
capital gain of about 10 million euros. Given this plan to sell and with the
application of IFRS, financial data related to the Bulk Division will be
reclassified in "income from activities held for sale", as from January 1st
2010.

About BOURBON

With 7,700 professionals and a fleet of 403 owned vessels and 116 units on
order, BOURBON is currently present in more than 30 countries.

BOURBON offers a wide range of offshore oil and gas marine services. Under the
new "BOURBON 2015 Leadership Strategy" plan, the company will invest US$ 2
billion to offer its most demanding oil and gas clients a large fleet of 600
innovative and high performance vessels. It guarantees the highest standard of
quality service worldwide, under safe conditions.

BOURBON also specializes in bulk transport and protects the French coastline for
the French Navy.

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 and in the SBF 120 and Dow Jones
Stoxx 600 indices.

Contacts

Publicis Consultants / Press Relations
Jérôme Goaer      +33(0)1 57 32 85 35 jerome.goaer@consultants.publicis.fr
Vilizara Lazarova +33(0)1 57 32 86 46
vilizara.lazarova@consultants.publicis.fr

BOURBON
Investors - Analysts - Shareholders Relations
Patrick Mangaud   +33(0)1 40 13 86 09  patrick.mangaud@bourbon-online.com
Communications Department
Christa Roqueblave +33(0)1 40 13 86 06 christa.roqueblave@bourbon-online.com

              All information on www.bourbon-online.com

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