AUSTAL LIMITED — Capital/Financing Update 2009

Sep 28, 2009

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COMPANY ANNOUNCEMENT 29 September 2009

CONTRACT FOR PASSENGER FERRIES

Austal confirms that all conditions precedent related to a shipbuilding contract with the Government of the Republic of Trinidad and Tobago announced on 14 September 2009 have been met.

The unconditional contact is for the design and construction of four 41 metre high speed passenger ferries valued at approximately AUD$75 million.

Construction of the vessels will be shared across Austal’s Tasmanian and West Australian facilities, with delivery scheduled for late 2010.

For further information contact: Austal, Public Relations Tel: +61 8 9410 1111 Fax: +61 8 9410 2564 Email: pubrel@austal.com Website: www.austal.com

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