Stolt-Nielsen S.A. Announces Intention to Redeem Senior Notes
London, England - February 28, 2005 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI) today announced that it has determined to exercise its right pursuant to the note agreements governing the Company's senior notes to redeem all $295.4 million aggregate outstanding principal amount of senior notes. The Company's senior notes will be redeemed at the respective redemption prices set forth in each of the note agreements. The Company expects to complete the redemption within its second fiscal quarter. Following completion of this redemption, the Company will seek to refinance other debt which it anticipates will further lower its financing costs.