Contract Win

Velosi Limited 17 October 2007 17 October 2007 VELOSI SECURES NEW SUBSTANTIAL CONTRACT IN NIGERIA Velosi Limited ('Velosi' or the 'Group'), a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year. Under the new contract, which commences on 1 November 2007, upon expiration of the existing contract, Velosi will continue to be involved predominantly with offshore coverage of the fabrication, erection and commissioning of multiple offshore production, drilling and living quarter platforms, as well as oversight of the laying and installation of sub-sea pipelines off the coast of Nigeria. In 2006, the Mobil Producing Nigeria contract, worth US$23.5 million, was the largest contributor to Group revenues, generating 33.5% of turnover, and, along with RasGas and Qatar petroleum, was one of the key drivers behind the increased growth of the Group's project verification division. Commenting on the contract, Dr. Nabil Abdul Jalil, CEO of Velosi said: 'We are delighted to have secured this contract with Mobil Producing Nigeria, which further highlights our ability to win significant contracts from major oil and gas companies globally. Africa is an extremely important region for the Group's growth as companies continue to seek and exploit new oil reserves. This contract is an excellent win and will have a significant positive impact on Group revenues over the next three to four years.' - END - For further information Velosi Dr Nabil Abdul Jalil 020 7930 0777 Joe Vincent Strand Partners James Harris 020 7409 3494 Warren Pearce Charles Stanley Mark Taylor 020 7149 6000 Freddy Crossley Cardew Group Tim Robertson 020 7930 0777 Emma Consett Notes to editors: About the Velosi Group The Velosi Group, founded in 1982, provides asset integrity and HSE services to a number of leading national and multinational oil and gas companies, including BP, Shell, ExxonMobil and Chevron. The Velosi Group operates globally through four principal offices in the USA, the UK, Malaysia and the UAE and has operational or representative offices in a further 36 countries worldwide. Velosi joined the AIM market on 21 August 2006. For more information, visit www.velosi.com. This information is provided by RNS The company news service from the London Stock Exchange

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Velosi Ltd. (VELO)
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