Press Release

Stolt-Nielsen Transportation Group Acquires Ermefer Food-Grade Container Business of Group Ermewa S.A.

London, England - May 31, 2005 - Stolt-Nielsen Transportation Group (SNTG), a subsidiary of Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI), announced today that it has acquired Ermefer, the food-grade container business of Group Ermewa S.A., a global provider of logistics services. Financial terms were not disclosed.

Michael W. Kramer, managing director, Stolt Tank Containers (STC), said, "STC is expanding. This latest acquisition underscores our commitment to our food-grade business and to enhancing STC's capacity to meet the growing needs of food-grade customers worldwide."

The transaction, along with other actions, will add nearly 300 tanks to STC's food-grade fleet.

"Shifting the management of the Ermefer fleet to STC will result in significant operational efficiencies, while increasing STC's presence and brand recognition in the food-grade marketplace," added Mr. Kramer. "We look forward to working with the management of Ermefer to ensure continued outstanding service to customers."

STC, with nearly 18,000 tank containers, is the world's largest door-to-door tank container operator. Stolt Tank Containers serves customer needs for specialty-liquid and food-grade services in all major markets worldwide. STC's Q.L.M. (Quality Lease Management) services are tailor-made comprehensive packages that incorporate integrated order management, technical support, shipping, repairs and maintenance for customers' owned or leased-in tanks.

About Stolt-Nielsen S.A.

Stolt-Nielsen S.A. (the "Company") 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 the parcel tanker, tank container, terminal, rail and barge services of its wholly-owned subsidiary Stolt-Nielsen Transportation Group, provides integrated transportation for its customers. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality turbot and Southern bluefin tuna. The Company also owns 25% of Marine Harvest, the world's largest aquaculture company.

Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. These statements include statements regarding Stolt-Nielsen S.A.'s plans with respect to dividend payments. The forward-looking statements reflect our current views and assumptions and are subject to risks and uncertainties. The following factors, and others which are discussed in Stolt-Nielsen S.A.'s public filings and submissions with the U.S. Securities and Exchange Commission, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: the general economic conditions and competition in the markets and businesses in which Stolt-Nielsen S.A. operates; the outcome of legal proceedings; the impact of negative publicity; environmental challenges and natural conditions facing Stolt-Nielsen S.A.'s aquaculture business; the impact of laws and regulations; uncertainties inherent in operating internationally; Stolt-Nielsen S.A.'s relationship with significant customers; and operating hazards, including marine disasters, spills or environmental damage. Many of these factors are beyond Stolt-Nielsen S.A.'s ability to control or predict. Given these factors, you should not place undue reliance on the forward-looking statements. Should one or more of these risks or uncertainties occur, or should management's assumptions or estimates prove incorrect, actual results and events may vary materially from those discussed in the forward-looking statements.

Richard M. Lemanski
USA 1 203.625.3604
[email protected]

Valerie Lyon
UK 44 20 7611 8904
[email protected]