Good Prospects for MEYER WERFT and NEPTUN WERFT

Papenburg/Rostock, 28 December 2010 - Despite the crisis in the shipbuilding market 2010 was a successful year for MEYER WERFT and NEPTUN WERFT. The prospects for the future are good thanks to a couple of new orders that were placed with the Papenburg and Rostock shipbuilders. All told, the order book of both shipyards comprising eight cruise ships, six river cruise ships and one ferry amounts to approx. € 4 bn, and will keep both yards busy until 2013. These orders safeguard the jobs of 2,500 MEYER WERFT employees and 450 employees at NEPTUN WERFT.

Both shipyards are also committed to enhancing professional training and further education of their staff so as to counter coming personnel bottlenecks in the shipbuilding industry. Along with massive investments made in production premises MEYER WERFT and NEPTUN WERFT have also initiated programs for increasing their productivity so as to be able to execute existing orders sucessfully and to defend their b market position.