Offer Update

Ocean Wilsons Holdings Ld
07 March 2007




                         Ocean Wilsons Holdings Limited


The Board of Ocean Wilsons Holdings Limited ('OWHL') announces that its
wholly-owned subsidiary Wilson Sons Limited (the 'Company') has filed a draft
Prospectus with the Brazilian Securities Commission (the 'CVM') that contains
information concerning a potential initial public offering of the Company, which
owns the group's Brazilian business. The Prospectus is in draft form,
incomplete, preliminary and subject to amendment and the Board of OWHL wishes to
stress that no firm decision has been made to proceed with an IPO or as to the
prices at which securities might be offered. The Board continues to keep the
future of the Group and its Brazilian business under review and any material
disposal of shares of the Company by OWHL, including as part of an IPO, would
require the prior consent of OWHL shareholders under London Listing Rules.
However, CVM filing is a necessary pre-condition to any public offer of
securities of the Company in Brazil, as is, amongst other pre-conditions,
approval of the transaction by shareholders, the completion of the Prospectus
and its approval by the CVM and the Board of OWHL.  A further announcement will
be made as and when appropriate.


The draft prospectus may be viewed on the CVM web-site (www.cvm.gov.br).


THIS  PRESS  RELEASE  DOES  NOT  CONSTITUTE  AN  OFFER,  SOLICITATION OR
INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES IN ANY COUNTRY. THIS
PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT
BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL
CIRCULATION IN THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER,
SOLICITATION OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. IN
ADDITION, THE SECURITIES OF WILSON SONS LIMITED HAVE NOT BEEN REGISTERED UNDER
THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED
WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES
SECURITIES LAWS.




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