AUSTAL LIMITED — Board/Management Information 2008

Jan 22, 2008

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COMPANY ANNOUNCEMENT 23 January 2008

AUSTAL USA CONFIRMS NEW BOARD MEMBER

Austal USA today announced the addition of Rear Admiral James Hinkle to its subsidiary Board of Austal Ltd. ADM Hinkle retired from the US Navy following an impressive career in the surface ship fleet, commanding an aircraft carrier battle group and a guided missile destroyer squadron. In addition, ADM Hinkle directed congressional liaison for the Navy, marketing multi-billion dollar defense programs in both the House and Senate Armed Services Committees.

ADM Hinkle joins the other members of the Austal USA board, Lawrence Cavaiola, Vice Admiral William Earner, Austal Ltd Executive Chairman John Rothwell, Austal Ltd CFO Michael Atkinson, Austal USA CEO Bob Browning and Austal USA COO Joseph Rella. Mr. Cavaiola held senior government positions with the US Congress and Department of Defense and ADM Earner held a variety of key strategic positions with the Navy including Deputy Chief of Naval Operations for Logistics, Director of Budget and Reports, and Comptroller, Naval Air Systems Command.

In combination with the executive directors, these 3 external directors will be a valuable resource in understanding and working with the various governmental entities associated with contracting with the US military.

The Littoral Combat Ship currently under construction at Austal USA is progressing well toward a 2008 delivery and the second Hawaii Superferry is on schedule for a September 2008 launch.

ENDS

For further information: Executive Chairman, John Rothwell or Austal Public Relations Tel: 08 9410 1111, Fax: 08 9410 2564 Email: pubrel@austal.com www.austal.com

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