Stolt-Nielsen S. A. (Nasdaq: STLTF, STLBY; Oslo Stock Exchange: SNIB) announced today that its Board of Directors has authorized the Company to purchase up to a total of 500,000 of its Common Shares and/or Class B Shares (or related American Depository Shares) in any combination thereof. The shares, which will be purchased from time to time in the open market when the share price seems attractive, will offset shares issued or to be issued in connection with employee stock option plans.
This program is consistent with previous actions. In 1996 and 1995 the Company repurchased 500,000 and 375,000 shares respectively under a similar authorization.
Stolt-Nielsen S.A. is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through its parcel tanker, tank container, terminal, rail and barge services, provides integrated transportation for its customers. The Company also owns 43 percent of Stolt Comex Seaway S.A. ('SCS'), which is among the largest subsea services contractors in the world. SCS specializes in providing engineering, flowline lay, construction, inspection, and maintenance services to the offshore oil and gas industry. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, and halibut.
Contact:
William W. Galvin
USA (212) 838 5454
Samira Ashraf
UK (171) 611-8963
