Press release

Date: March 10, 2008

Royal Boskalis Westminster nv has reached agreement with all insurers involved on the compensation concerning the mega hopper WD Fairway, that collided with a container vessel in China on March 8, 2007. The insurers have decided that there is a constructive total loss and they compensate Boskalis for a total amount of € 167 million of which € 40 million was already received in 2007.

The financial settlement will lead to a positive result for Boskalis of approximately € 100 million before taxation, that will be recognized in the results in 2008.

Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.

For further information please contact:

Roel Berends - Corporate Relations  
Telephone: +31 (0)78 69 69 822 / +31 (0)6 2001 0232
Fax: +31 (0)78 69 69 020
E-mail: r.t.berends@boskalis.nl

 

This press release can also be found on our website www.boskalis.com.

 

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