Acquisition of Maritime Engineers

Monday 6 December 2010

JAMES FISHER AND SONS PLC

Acquisition of Maritime Engineers

James Fisher and Sons plc today announces the purchase by its subsidiary, JF Australia Holding Pty Ltd, of Maritime Engineers Pty Ltd ("Maritime Engineers" or the "Company"), Perth, Western Australia, for a total consideration of £1.4 million in cash.

Maritime Engineers, previously a family owned company, is a leading independent marine engineering consultancy and inspection company in Western Australia. With 10 qualified marine engineers or naval architects, its consultancy work covers a wide range of clients active in the marine sector in the region. Clients include commercial and naval ships, companies working in the offshore energy market, banks and insurance companies. The Company complements the existing activities of Fendercare in Australia and is expected to expand its business elsewhere in the Asia Pacific region.

Maritime Engineers had turnover of £1.1 million in the year to 30 June 2010 with net profit before tax of £0.27 million. Net assets on the date of completion were £0.35 million.

Tim Harris, Chairman of James Fisher and Sons plc, said:

"We have set our sights on expanding our marine service companies in Australia and Asia Pacific. This small acquisition fits neatly into these plans and follows our recent acquisitions of ACM and RigCool."

E C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons plc.

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