AUSTAL LIMITED — Capital/Financing Update 2010

Jun 6, 2010

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COMPANY
ANNOUNCEMENT 5
June
2010

US
NAVY
ORDERS
MATERIAL
FOR
ADDITIONAL
AUSTAL
JHSVS

The
US
Navy
has
exercised
contract
options
funding
Austal’s
acquisition
of
long
lead‐time
equipment associated
with
the
construction
of
two
additional
103
metre
Joint
High
Speed
Vessels
(JHSV).

The
award
is
valued
at
approximately
AUD
$121
million.

As
the
prime
contractor,
Austal
currently
has
contracts
to
build
the
first
three
JHSVs
as
part
of
a
10‐ vessel
program
valued
at
up
to
AUD
$2
billion.
Today’s
award
funds
the
acquisition
of
long
lead
time material
for
JHSV
4
and
5.

Austal
Managing
Director
Bob
Browning
commented;

“This
award
reinforces
the
US
Navy’s
support
for
this
major
US
defence
programme
and
provides
a clear
signal
that
options
4
and
5
will
be
taken
up.”

Austal
was
awarded
the
initial
contract
to
design
and
build
the
first
103
metre
JHSV
in
November
2008, with
contracts
for
an
additional
two
vessels
awarded
in
January
this
year.
Options
for
the
remaining seven
vessels
are
expected
to
be
awarded
between
FY10
and
FY13.

Each
JHSV
is
valued
at
approximately
AUD
$225
million.

Similar
to
the
Austal‐built
“WestPac
Express”
operated
by
the
US
Marines
for
the
past
eight
years,
the JHSV
will
be
capable
of
transporting
troops
and
their
equipment,
supporting
humanitarian
relief
efforts, and
reaching
speeds
in
excess
of
35
knots
fully
loaded.
The
vessels
will
be
a
joint‐use
platform
operated by
both
the
United
States
Army
and
Navy.

Long
lead‐time
material
for
JHSV
4
and
5
will
include
main
propulsion
engines,
water
jets,
reduction gears
and
other
major
equipment
items.

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Construction
of
the
first
JHSV
is
currently
underway
at
Austal’s
US
facility
in
Mobile,
Alabama.

END

About
Austal

Austal
is
the
world
leader
in
the
design
and
construction
of
customised,
high
performance
aluminium
vessels
for both
commercial
and
defence
applications.
With
shipyards
in
Western
Australia
and
the
USA
(Mobile,
Alabama), Austal
has
delivered
more
than
200
vessels
for
customers
around
the
world.

Established
in
Western
Australia
in
1988,
Austal’s
product
range
includes
passenger
and
vehicle‐passenger
ferries, patrol
boats,
theatre
support
vessels,
combat
ships,
multi‐role
vessels
and
luxury
private
live‐aboards.
Austal
is also
an
established
provider
of
worldwide
vessel
maintenance
and
management
services.

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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