New Order

ROLLS-ROYCE PLC
26 August 1999


ROLLS-ROYCE POWERS FASTSHIP IN $1 BILLION ENGINE AGREEMENT

Rolls-Royce plc has reached agreement on what will be its largest single order
for marine engines, to power a revolutionary fleet of super-fast ships, which
will transform transatlantic maritime trade.  This signifies another step
forward for the company, which already powers 30 navies around the world, as
it expands into the commercial marine sector.

FastShip Inc, based in Philadelphia in the United States, will contract for 25
marine Trent gas turbines, five in each vessel and five spares, together with
a 20-year support package throughout the life of each engine.

'This agreement represents further evidence of the company's successful
strategy to exploit the proven performance and reliability of its gas turbine
technology,' said Bob Sunerton, Managing Director - Marine Power.  'The Trent
is now established as a leading engine providing power for land, sea and air
applications'.

The marinised Trent engine is a derivative of the successful Rolls-Royce Trent
aero-engine and is the most powerful gas turbine propulsion unit available to
ship operators.  Rated at 50 megawatts it will power the new FastShip vessel
at speeds of up to 40 knots.  As the original equipment manufacturer, the
company will support the engine throughout its working life, following its
strategy of providing an extended range of aftermarket services to its
customers.

'The new ships will provide a seven day door-to-door service for any company
moving high-value, time-sensitive products across the Atlantic.  We fully
expect the concept to be taken up in other parts of the world, opening up new
opportunities for Rolls-Royce,' Mr Sunerton added.

'We are delighted to be working with Rolls-Royce on this exciting new
project,' said FastShip Inc Chairman, Einar Pedersen.  'The marine Trent
engine met all our requirements and we are confident it will prove efficient
and reliable in service'.

In launching their business, FastShip Inc. will order four high-speed
container vessels with sea trials planned for 2002 and entry into service in
2003.  The project also includes the development of new terminal facilities in
Philadelphia and Cherbourg, France.

Financing for the business, which is due to be completed later this year
already includes significant support from MARAD (US Maritime Administration
Title XI Guarantee Program), financing from major equipment suppliers
(including Rolls-Royce), local authorities in both Philadelphia and Cherbourg
for terminals and equity funding from financial markets.
                            
FastShip will create an improved form of transport - a premium seven-day,
door-to-door North Atlantic network for high-value, time-sensitive goods
(HVTS) - the fastest growing segment in the shipping industry.  This allows
for delivery speeds and reliability comparable to airfreight at a cost closer
to conventional shipping rates.  Customers will realise dramatic cost savings
by reducing inventory, capital investments and other logistics costs.


For further information please contact:
Martin Nield 
Rolls-Royce plc
Tel:  [phone]
Fax: [phone]

Chris Springham
Rolls-Royce plc
Tel: [phone]
Fax: [phone]
Rolls-Royce website: http:// www.rolls-royce.com