Press Release

Stolt-Nielsen S.A. Announces Exercise of Stock Options and Sale of Shares by Primary Insiders

London, England - March 1, 2005 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI) today announced that certain senior officers and directors of the Company, including the Chairman and the Chief Executive Officer, have exercised stock options and subsequently sold an aggregate of 514,000 Common shares through offshore transactions in accordance with Regulation S under the U.S. Securities Act of 1933. These primary insiders had been restricted by law and Company policy from trading in the Company's shares for an extended period in light of the Company's financial and legal circumstances. Since the release of the Company's fourth quarter and year-end earnings announcement, the restrictions have not been applicable and these individuals, based on their personal circumstances, determined to take this opportunity to exercise options and sell shares. The shares involved represent less than two percent of the shares beneficially owned[1] by these individuals.

About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (NASDAQNM: SNSA; Oslo Stock Exchange: SNI) is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. Stolt-Nielsen S.A., through its parcel tanker, tank container, terminal, rail and barge services, provides integrated transportation for its customers.  Stolt Sea Farm, wholly-owned by Stolt-Nielsen S.A., produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar, bluefin tuna, and tilapia. (

[1] Beneficial share ownership includes all vested  share options held by the individuals, shares owned directly by the individuals and their immediate family members, and shares held by Fiducia Ltd. (which is owned by trusts of which beneficiaries are members of the Stolt-Nielsen family)
Richard M. Lemanski
U.S. 1 203 625 3604
[email protected]

Valerie Lyon
UK 44 20 7611 8904
[email protected]