OTTO MARINE LIMITED: NOTICE OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	OTTO MARINE LIMITED
Company Registration No.	197902647M
Announcement submitted on behalf of	OTTO MARINE LIMITED
Announcement is submitted with respect to *	OTTO MARINE LIMITED
Announcement is submitted by *	Yee Kee Shian Leon
Designation *	Joint Company Secretary
Date & Time of Broacast	05-Feb-2010 18:24:40
Announcement No.	00151
Price Sensitivity	No

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	05/02/2010
2. Name of Substantial Shareholder *	Business Companion Investments Limited ("BCI")
3. Please tick one or more appropriate box(es): *
- Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> Part II
1. Date of change of [Select Option]
2. Name of Registered Holder
3. Circumstance(s) giving rise to the interest or change in interest
# Please specify details
4. Information relating to shares held in the name of the Registered Holder
No. of N.A. held before the change
As a percentage of issued share capital
No. of N.A. which are subject of this notice
As a percentage of issued share capital
Amount of consideration (excluding brokerage and stamp duties) per share paid or received
No. of N.A. held after the change
As a percentage of issued share capital

>> Part III
1. Date of change of Interest	04/02/2010
2. The change in the percentage level	From 56.29 % to 61.37 %
3. Circumstance(s) giving rise to the interest or change in interest	# Others
# Please specify details	Allotment and Issue of the Placement Shares in return for the Loan Securities lent by BCI (though its shareholdings held in the name of Raffles Nominees Pte. Ltd as Registered Holder) to Kim Eng Securities Pte. Ltd. ("KES") pursuant to the Securities Lending Agreement entered into between BCI and KES on 26 January 2010.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions	The change in the percentage level is the result of a securities lending transaction between BCI and KES as mentioned above.

>> Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	940,250,000	0
As a percentage of issued share capital	56.29 %	0 %
No. of shares held after the change	1,160,250,000	0
As a percentage of issued share capital	61.37 %	0 %

Footnotes

(1) Percentage of shares before the change was computed based on the issued share capital of the Company of 1,670,429,000 shares. (2) Percentage of shares after the change was computed based on the issued share capital of the Company of 1,890,429,000 shares. (3) BCI has direct interest in 1,160,250,000 shares held in its own name and through Raffles Nominee Pte. Ltd. as bare trustee.