Exercise of Over-Allotment

Ocean Wilsons Holdings Ld
31 May 2007


NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN

OCEAN WILSONS HOLDINGS LIMITED
31 May 2007
EXERCISE OF OVER-ALLOTMENT OPTION

Ocean Wilsons Holdings Limited ('OWHL') today announces that the stabilisation
period that followed the commencement of trading in the shares and Brazilian
Depositary Receipts ('BDRs') of its Brazilian subsidiary, Wilson Sons Limited
('Wilson Sons''), on the Sao Paulo Stock Exchange and the Luxembourg Stock
Exchange, has concluded and OWHL has received notice of the exercise of the
over-allotment option referred to in the announcement on 27 April 2007, in
respect of 3,300,000 Wilson Sons shares which represent all of the shares
originally designated for the over-allotment option. The over-allotment option
was exercised at US$11.74 per Wilson Sons share, the same price as the offer
price announced on 27 April 2007.

OWHL will receive additional proceeds of approximately US$ 37 million from the
exercise of the over-allotment option. Following the exercise of the
over-allotment option the total proceeds (net of expenses) received by OWHL in
respect of the flotation of Wilson Sons will be approximately US$ 206 million
and OWHL will retain 41,444,000 shares in Wilson Sons representing 58.25% of the
enlarged share capital of Wilson Sons.

Enquiries to:

Keith Middleton, Ocean Wilsons Holdings Limited, [phone]


This announcement is not an offer for sale, or a solicitation of offers to
purchase, the shares ('Shares'), or BDRs, in Wilson Sons offered in the offering
in any jurisdiction. No action will be taken to permit the Shares and BDRs to be
sold in a public offer in any jurisdiction outside Brazil. In particular, no
prospectus will be prepared with any regulations made in implementation of the
Prospectus Directive (2003/71/EC) and no offer to the public will be made in any
Member State of the European Economic Area, absent an exemption from the
requirement to prepare a prospectus. The Shares and BDRs have not been and will
not be registered under the US Securities Act of 1933, as amended and may not be
offered or sold (a) in the United States absent registration or an applicable
exemption from registration requirements under the Securities Act, or (b) in any
other jurisdiction in which such offer or sale is prohibited. This announcement
and the information contained herein are not for publication, distribution or
release in, or into, the United States, Canada, Australia or Japan.






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