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PETROPROD LTD - Further Information On Signed MOU

PetroProd Ltd. Reference is made to the stock exchange announcement published on 19.05.2008 regarding the MoU signed with an undisclosed operator for the 5 year lease/operation of PetroProd 1 FPSO.

Due to extended negotiations between the two parties, a final agreement is expected to be signed no later than 17 July 2008. Further information will be given on or before 17 July 2008.

Contact person: Martin Nordaas (Phone: +65 91383188)

PetroProd Ltd.

http://www.petroprod.com

ISIN: KYG7053Q1064

Stock Identifier: OSE.PPROD

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PetroProd Ltd.

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