Acquisition

Ocean Wilsons Holdings Ld
18 August 2005


                         Ocean Wilsons Holdings Limited

 Ocean Wilsons Holdings Limited announces conditional acquisition of a further
                          33% in Tecon Rio Grande S.A

Ocean Wilsons Holdings Limited a leading supplier of maritime services in Brazil
announces the conditional acquisition of a further 33% equity interest in Tecon
Rio Grande S.A. currently held by Serveng Civilsan for Brazilian Real 55.5
million (approximately US$ 23.7 million). The acquisition is conditional on
approval from the International Finance Corporation, who provide project finance
to Tecon Rio Grande S.A. and whose decision is expected within  one month.
Completion of the acquisition should take place within 10 days  from the receipt
of approval.

Tecon Rio Grande S.A. has a 17 year lease contract to operate the Tecon Rio
Grande container terminal at Rio Grande in Brazil which expires in February
2022. Tecon Rio Grande is the second largest container terminal in Brazil and
moved 612,000 TEU's (Twenty foot equivalent units) in 2004.

The consideration of Brazilian Real 55.5 million will be financed from the
Group's cash resources.

Based on the audited accounts for the Group for the year ended 31 December 2004,
Tecon Rio Grande contributed profits after  tax  of  US$ 5.7 million. Gross
Assets at the year end were US$55.1 million with net assets of  US$ 26.1
million.

For the year ended 31 December 2004, Tecon Rio Grande was consolidated 100% in
the Ocean Wilsons Holdings Limited Group accounts with a minority interest of
33%.

Mr Cezar Baiao, Chief Executive of  the Group's Brazilian operations said : 'The
acquisition of a further 33% interest in Tecon Rio Grande will strengthen Ocean
Wilsons Holdings Limited position in the growing container terminal market.'


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