clarification on 2 issues will give mrm boost , page-3

Response from Mermaid Marine Australia to the report coming out of The West Australian today



“Mermaid Vigilance” – Claim arising from Tropical Storm “Nate”
Mermaid Marine Australia Limited (MMA) refers to its previous announcement in relation to the above
incident (dated 28 September 2011) and to the article entitled “Mermaid in talks over US tragedy”, which
was published in The West Australian newspaper today, 17th February 2012 (Article).
In the Article, it is incorrectly stated or implied that MMA is in negotiations with the plaintiffs “to settle
lawsuits seeking up to $US34 million”.
MMA wishes to clarify that it is not currently involved in any negotiations with the plaintiffs.
MMA understands that early negotiations around settlements have commenced between some of the
plaintiffs and the other defendant companies involved in the US legal proceedings.
As previously announced, MMA considers that it is adequately covered (both by the contractual
indemnities it has and by its insurances) in relation to these claims and any other claims which may arise
out of the incident.
MMA believes that the Master of the “Mermaid Vigilance” made the right decision in the circumstances to
protect the lives of the 37 people on board the “Mermaid Vigilance” and the company will continue to
defend the claims made against it.
For further information please contact:
Mr. Jeffrey Weber, Managing Director
(08) 9431 7431