SNSA Stolt Nielsen S A (MM)

Stolt-Nielsen S.A. (OsloB�rs: SNI) today announced that the Company's Board of Directors recommended no final dividend payment for 2008. The action by the Board reflected the Company's focus on conserving cash, given the weakness and uncertainty in the global economic outlook.

About Stolt-Nielsen S.A.

Stolt-Nielsen S.A. (the "Company") is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through the parcel tanker, tank container, terminal, rail and barge services of its wholly owned subsidiaries Stolt Tankers & Terminals and Stolt Tank Containers, provides integrated transportation solutions for its customers. Stolt Sea Farm, wholly owned by the Company, produces and markets high quality turbot, sole, sturgeon and caviar.

Forward-looking Statements

This press release contains "forward-looking statements" based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. The forward-looking statements reflect the Company's current views and assumptions and are subject to risks and uncertainties. The Company does not represent or warrant that the Company's actual future results, performance or achievements will be as discussed in the those statements, and assumes no obligation to, and does not intend to, update any of those forward-looking statements other than as may be required by applicable law.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Contacts: Jan Chr. Engelhardtsen U.K. +44 (0) 20 7611 8972 Email Contact Jens F. Gruner-Hegge U.K. +44 (0) 20 7611 8985 Email Contact