Fugro N.V. — Earnings Release 2008

May 14, 2008

PRESS RELEASE

Leidschendam, the Netherlands, 14 May 2008

The upward trend continues at Fugro

The upward trend of Fugro's revenue and result continues during the first months of 2008.

Business development

The high demand for Fugro's services continues unabated, especially from the oil and gas sector and for large-scale infrastructure projects.

Exploration activities (marine seismic surveys) for the oil and gas industry show a strong increase as a result of the additional vessels taken into service during 2007, the utilisation of which will also be high for the rest of the year. Multi-client data sales showed a sharp increase compared to the same period in 2007.

In line with the above trend, the order backlog is also higher than a year ago.

The intended expansion of the marine fleet by six vessels (two owned, the rest chartered) has now been arranged. It is expected that the two new vessels being built will experience a few weeks delay in delivery. The concurrent operational equipment expansion includes twenty ROVs (Remotely Operated Vehicles) and an AUV (Autonomous Underwater Vehicle).

Fugro's workforce has now increased to more than 12,400 employees.

Outlook

All three divisions are expected to show an increase in revenue and result for the first half of 2008. Most of the revenue growth will be organic. The lower US Dollar and British Pound exchange rates will, at their current level, have a negative impact of approximately 7% on the revenue growth. This will largely be offset by a revenue increase of around 5% as a result of acquisitions completed during 2007 and 2008.

Barring unforeseen circumstances and a further decline of the US Dollar and British Pound, revenue for the company for the first half of the year is expected to increase by approximately 20% to around EUR 1 billion (first half of 2007: EUR 826.3 million) and net profit is also expected to increase by approximately 20% to over EUR 100 million (first half of 2007: EUR 85.9 million). This means that last year's strong increase in the first half year net profit margin to over 10% will be maintained (first half of 2007: 10.4%).

Convertible bond

An amount of EUR 118,602,000 of the nominal EUR 125 million convertible bond loan issued in 2005 has now been converted for which 4,890,804 depository receipts of shares have been issued. As from11 May 2008 Fugro is entitled, under certain conditions, to redeem (the remainder of the) convertible notes prior to the expiry date. Fugro intends to redeem the remaining portion of the bond and will shortly start the procedure for this.

As a result of the above mentioned issue of certificates of shares the total number of outstanding certificates of shares increased to 75,311,780 on 13 May 2008 of which 1,444,646 were held in treasury.

Fugro collects, processes and interprets data related to the earth's surface and soil composition and provides advice based on the results. As an extension to these activities, Fugro provides services such as precise positioning, construction materials testing, reservoir engineering and data management. Fugro's operations have been organized into three divisions: Geotechnical, Survey and Geoscience. Fugro is listed on Euronext Amsterdam and is included in the Amsterdam Midkap Index (AMX). Fugro has about 12,000 employees in more than fifty countries.

PRESS RELEASE

Expansion in Brazil

Fugro has acquired the remaining 38% interest in the Fugro-Oceansatpeg joint-venture in Brazil. This joint venture was established in 2005 to provide marine survey services in Brazil, primarily for the oil and gas industry. These activities will be continued under the name 'Fugro Brazil Ltda' from a new office near Rio de Janeiro. During the first quarter of 2008 Fugro-Oceansatpeg received new orders worth a total of around USD 30 million. These orders are for ROV services for several clients, including Petrobras, as well as for offshore surveys and diving activities related to production facilities in various locations including the Campos field.

Fugro has also reached agreement regarding the acquisition of In Situ Geotecnia Ltda. - a leading Brazilian company in the field of geotechnical services. In Situ operates throughout Brazil with offices in Curitiba and Sao Paulo and has an annual revenue of EUR 4 million and 100 employees. In Situ Geotecnia Ltda. will be part of the onshore geotechnical business line.

Fugro has been active in Brazil for many years providing various services, including airborne surveys for the mining industry, as well as marine seismic, offshore surveys and geotechnical work for the oil and gas industry.

Fugro now employs 900 people in Brazil.

Half-yearly figures 2008

On Friday 8 August Fugro will announce results for the first six months of 2008, and give an update regarding the expected profit for the full year 2008.

For further information: Fugro N.V. K.S. Wester, President and CEO Telephone + 31 70 311 11 12

Cautionary Statement regarding Forward-Looking Statements

This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts, including (but not limited to) statements expressing or implying Fugro N.V.'s beliefs, expectations, intentions, forecasts, estimates or predictions (and the assumptions underlying them).

Forward-looking statements necessarily involve risks and uncertainties. The actual future results and situations may therefore differ materially from those expressed or implied in any forward-looking statements. Such differences may be caused by various factors (including, but not limited to, developments in the oil and gas industry and related markets, currency risks and unexpected operational setbacks).

Any forward-looking statements contained in this announcement are based on information currently available to Fugro N.V.'s management. Fugro N.V. assumes no obligation to in each case make a public announcement if there are changes in that information or if there are otherwise changes or developments in respect of the forward-looking statements in this announcement.