SWIBER ANNOUNCES SPONSORSHIP OF "SWIBER SEVEN SUMMITS EXPEDITION"

- Swiber to be naming sponsor of Ms. Jane Lee's attempt to be the first Southeast Asian woman to conquer the "Seven Summits"

Singapore - September 17, 2010 - Swiber Holdings Limited ("Swiber" or together with its subsidiaries, the "Group"), a world class integrated construction and support services provider to the offshore oil and gas industry, today announced a Memorandum of Understanding ("MOU") to be the naming sponsor of Ms. Jane Lee's attempt to scale the highest mountains on each of the seven continents.

Ms. Lee was the team leader of the Singapore Women's Everest Team that conquered Asia's highest peak in May 2009. After the expedition, Ms. Lee was inspired to attempt to complete the "Seven Summits". Once accomplished, she will be the first female from Southeast Asia to accomplish the feat.

"Jane's story is a reminder to each of us that we all have our own mountains to climb, even in our personal lives and professional careers. We really admire Jane's courage and determination, which are paramount to achieving her dream. That's why we at Swiber are one with her and we fully support her as she achieves her dream," said Mr. Raymond Goh, Executive Chairman of Swiber said.

With the sponsorship, Ms. Lee's campaign will be known as "The Swiber Seven Summits Expedition". Besides Mount Everest (8,850m), she has scaled Mount Kosciuszko (2,228m) in Australia and Mount McKinley (6,194m) in North America this year. She will attempt to conquer Mount Kilimanjaro (5,893m) in Africa, Mount Elbrus (5,642m) in Europe, Mount Vinson (4,892m) in Antarctica and Mount Aconcagua (6,962m) in South America to complete one of the most prestigious and acclaimed adventure achievements.

Ms. Lee said, "This is a big step for me and I'm glad to have the financial and moral support from Swiber."

Besides naming rights, Ms. Lee has also agreed to deliver four talks for Swiber and prominently place the Swiber logo on climbing apparels, expedition website (currently under construction), banner and backdrop at public appearances.

Mr. Goh added, "We hope that Jane will be an inspiration for us at Swiber as well as all Singaporeans to dare to dream big and have the tenacity to bring the dream to fruition."

The "Swiber Seven Summits Expedition" is part of Swiber's corporate responsibility programme to contribute to the community in which it operates. Swiber is honored in being able to help the vision of this young Singaporean, who will not just aspire to make a mark for herself but for her country as well.

Find out more about Jane Lee and her expedition. Visit her website: