Ocean Wilsons Holdings Limited - Wilson Sons Limited Announcement.

Hamitlon, Bermuda: May 16, 2007 -- Today our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the results of the Company and its subsidiary companies  for the three months ending 31 March 2007. Wilson Sons Limited reported as follows:

WILSON SONS REPORTS 1Q07 RESULTS

Rio de Janeiro, May 15, 2007 - Wilson Sons Limited (Bovespa: WSON11), one of the largest integrated operators of port and maritime logistics and supply-chain solutions in the Brazilian market, with 170 years of experience, a nationwide network and offering a full range of services to participants in the area of international trade, in particular the port and maritime industry, with activities spread across six segments of operation - port terminals, towage, logistics, ship agency, offshore and non-segmented activities - announces herein its results for the first quarter of 2007 (1Q07).

Except where stated otherwise, the interim financial and operating data presented are based on condensed and consolidated data in U.S. dollars, in accordance with International Accounting Standards no. 34 (IAS 34) related to Interim Financial Statements.

Operating and Financial Highlights

þ      Conclusion of the IPO process of Wilson Sons at a price of R$23.77/BDR;

þ      Revenues of US$ 82.6 million in 1Q07, up 7.1% from the US$ 77.2 million posted in 1Q06;

þ      Operating Profit of US$ 15.0 million, 11.2% higher than the US$ 13.5 million in 1Q06;

þ      EBITDA of US$ 19.2 million in the quarter, an increase of 26.9% from the US$ 15.1 million posted in 1Q06;

þ      Profit for the period of US$ 12.0 million, 46.5% higher than the US$ 8.2 million earned in 1Q06;

Management's Comments

The year 2007 will be recorded in the history of Wilson Sons as the year of the company's IPO process. 26,400,000 Brazilian Depositary Receipts (BDRs) were placed in the offering, comprising a primary offering of 11,000,000 shares and a secondary offering of 15,400,000 shares. The offering price was R$ 23.77/BDR and the total value of the issue exceeded R$ 627 million.

In the first quarter of 2007 the company posted growth of 26.9% in EBITDA, 11.2% in Operating Profit, and 7.1% in Revenues. These numbers demonstrate the power of the company's market position and the improvement in its operational efficiency, while also reflecting the favorable environment in terms of Brazil's trade flows.

Brazil's trade flows (the country's total exports plus its total imports) posted growth of 19.5%, rising from US$ 49.5 billion in the first quarter of 2006 to US$ 59.1 billion in the first quarter of 2007.

This quarter we added another Platform Supply Vessel (PSV) to our fleet that supports the oil and natural gas exploration and production activities. The PSV Saveiros Fragata is the first PSV vessel, built in Brazil with a diesel-electric propulsion system, with length of 72.6 meters and Deadweight (DWT) capacity of 3,100 tonnes. PSV Fragata was built in Wilson Son's shipyard and will be chartered to Petrobras, building on the company's strategy of fostering growth in its Offshore segment.

          Wilson Sons continually seeks integration and synergies among its various segments of operation, which - together with its extensive knowledge of the market in which it operates, superior infrastructure and nationwide reach - constitute fundamental factors for the growth and strengthening of its financial and operational performance.