News

Subscription For Additional Shares In Subsidiary

The Board of Directors of ASL Marine Holdings Ltd. (the "Company" or "ASL Marine") wishes to announce that its wholly-owned subsidiary, Capitol Aquaria Pte. Ltd. ("CA"), has on 23 February 2005 increased its issued and paid-up share capital from S$2 comprising 2 ordinary shares of S$1 each to S$100,000 comprising 100,000 ordinary shares of S$1 each by the allotment and issue of 99,998 ordinary shares to ASL Marine at par for cash The subscription was funded by internal cash resources.

The principal activities of CA are those relating to the ownership and chartering of marine vessels.


Financial effects on the Company
The net tangible assets and earnings per share of the Company for the financial year ending 30 June 2005 are not affected by the above transaction.


Interests of the Directors and controlling shareholders
As far as the Directors of ASL Marine are aware, none of the Directors or controlling shareholders of ASL Marine has any interest, direct or indirect, in the above transaction other than through their shareholdings in ASL Marine.


BY ORDER OF THE BOARD



Ang Kok Tian
Chairman and Managing Director
23rd February 2005