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Joint Press Release

Catalist-listed ES Group Announces Revised Chartering Agreement and New Vessel Sale to Sea Hub Tankers for S$29.4 Million
SINGAPORE, 13 July 2012 ES Group (Holdings) Limited (the Company and together with its subsidiaries, ES Group or the Group) announced today that its wholly-owned subsidiary, ES Shipping Pte. Ltd., has entered into two agreements with Sea Hub Tankers Pte. Ltd. (Sea Hub Tankers) to (1) amend the existing chartering arrangement of Sea Tanker I (the First Agreement) and (2) sell Sea Tanker II (the Second Agreement). The total contract sum of S$29.4 million comprised the charter revenue and the sale consideration for the vessels. SGX Catalist-listed ES Group is a Singapore-headquartered marine and offshore group involved in new building, conversion and repair of ocean-going vessels and Sea Hub Tankers is a Singapore-based charterer specialising in marine logistics, leasing, commodities trading and hedging and including supply of bunker fuel. Under the First Agreement, the three-year bareboat time charter with Sea Hub Tankers (previously entered into in August 2010) for Sea Tanker I has been replaced with a five-year demise charter contract beginning in the second half of the financial year ending 31 December 2012 (FY2012). During the aforesaid charter period, the bunker vessel will be owned and managed by ES Group for a monthly charter fee, after which the bunker vessel ownership shall be transferred to Sea Hub Tankers. In accordance with the applicable accounting standards, ES Group expects to recognise the charter revenue progressively over the length of the charter period and the gain upon delivery of Sea Tanker I in the second half of FY2012. Under the Second Agreement, the Group will sell Sea Tanker II to Sea Hub Tankers. The gain from the sale will be recognised upon the delivery of the bunker vessel to Sea Hub Tankers which construction is slated for completion in the second half of FY2012. Completion of the sale of Sea Tanker II is subject to satisfactory certification and successful registration of the aforesaid vessel. The construction of the two 3,400 deadweight-tonne Nippon Kaiji Kyokai (ClassNK) bunker vessels are carried out at the Groups 50%-owned subsidiarys shipyard in Thailand, with engineering, procurement and construction (EPC) support provided by the Groups Dalian-based engineering and procurement centre.

Media Release Catalist-listed ES Group Announces Revised Chartering Agreement and New Vessel Sale to Sea Hub Tankers for S$29.4 Million 13 July 2012 Page 2 of 3 __________________________________________________________________________

We are delighted to extend our business partnership with Sea Hub Tankers. Their decision to revise the charter for Sea Tanker I and to acquire Sea Tanker II underscores their confidence in the quality and reliability of our Groups EPC services and vessel construction competence, said Mr Christopher Low, the Companys Chief Executive Officer. This partnership also serves to reinforce our aspirations in the new vessel chartering and management business, and to free up resources to finance new investments, he added. We are very pleased with the quality and the production schedules of the two new bunker vessels, which will be important additions to our existing fleet. The modern designs and improved efficiency will help us differentiate from other service providers, said Mr Glen Lim, Sea Hub Tankers Managing Director. We are pleased to have ES Group as our trusted partner who has shown expertise in building quality vessels on schedule and within budget, and we look forward to extending our partnership, Mr Lim added. #End of Release#
About ES Group ES Group is a Singapore-headquartered marine and offshore group involved in new building, conversion and repair of ocean-going vessels. The Group designs, builds, converts and repairs a wide range of vessels, such as tugs, barges, rigs, offshore support vessels, oil tankers and cargo ships. The Group performs repairs on marine and offshore structures and vessels of all types and sizes, whether afloat or dry-docked. ES Group, whose customers include well-known shipyard operators such as Sembawang Shipyard Pte Ltd, Keppel FELS Ltd and Singapore Technologies Marine Ltd. It has workshop and repair facilities in Singapore, owns and runs a 70,000 sq m shipyard in Thailand via its 50%-owned subsidiary. ES Group was listed on Catalist on 9 July 2010. About Sea Hub Sea Hub Tankers Pte. Ltd. is incorporated in October 2010 and is a wholly-owned subsidiary of Sea Hub Energy Pte. Ltd. (Sea Hub Energy). The founder of Sea Hub Energy, Mr. Glen Lim Seet Huat, is the Managing Director of both companies. Together with Mr. Eric Ang Heng Lye, its Trading Director, Sea Hub Energy has incorporated another wholly-owned subsidiary in Hong Kong known as Sea Hub Trading (HK) Limited in March 2012. Under their management and leadership and experience in the shipping industry, they have achieved substantial growth for Sea Hub Tankers within a short period of five years. Since incorporation, Sea Hub Tankers has been serving the parent company with ship management and supervision of new built barges. The company will continue to expand its

Media Release Catalist-listed ES Group Announces Revised Chartering Agreement and New Vessel Sale to Sea Hub Tankers for S$29.4 Million 13 July 2012 Page 3 of 3 __________________________________________________________________________

business and render services to new built barges as well as agency services in the shipping industry, bringing the company and its team to greater heights.

Issued on behalf of the Company by WeR1 Consultants Pte Ltd

Investor Relations Contact: WeR1 Consultants Pte Ltd Tel: +65-6737 4844 Fax: +65-6737 4944 Josephine Auxilio, josephine@wer1.net Lai Kwok Kin, laikkin@wer1.net
This press release has been prepared by the Company and its contents have been reviewed by the Companys sponsor (the Sponsor), Canaccord Genuity Singapore Pte. Ltd. (formerly known as Collins Stewart Pte. Limited) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the SGX-ST). Canaccord Genuity Singapore Pte. Ltd. has not independently verified the contents of this press release. This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made, or reports contained in this press release. The contact person for the Sponsor is Mr Alex Tan, Managing Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.