Perry Slingsby - News - January 5, 2006

Perry Slingsby Systems Sells Olympian 5 ROV to China

Perry Slingsby Systems (PSS) an international provider of remote intervention technologies and equipment systems, is pleased to announce that a Chinese client has recently purchased an Olympian Class WROV.

Depth rated to 3,500m, the Olympian 5 will interface with PSS’ previously supplied TMS, umbilical & electric heave compensated deployment winch and surface control system. The contract includes on site training and sea trials support in China, and the integration of the client’s ROV Dynamic Positioning System (DPS) and Virtual Monitoring System (VMS).

The Olympian 5 WROV will be used for survey tasks and to deploy tooling for sampling the seabed for methane hydrate deposits in the South China Sea. The DPS and VMS systems are provided by the client, and integrated in the ROV control system by Perry Slingsby Systems. The Olympian 5 is scheduled for delivery in May 2006.

Martin Anderson, Managing Director and CEO, Perry Slingsby Systems, commented “We view China as a high growth area for PSS, not only for ROV and intervention tooling systems but for our Support Services Business Lines as well. This contract, combined with other recent contracts in China has clearly established a foot hold for PSS in the region”.

For further information, please contact:

USA: PERRY SLINGSBY SYSTEMS, INC.
Natasha Trenorden - Business Planning & Marketing Systems
pssi@us.perrymail.com

821 Jupiter Park Drive, Jupiter, FL 33458
Tel: 561-743-7000
Fax: 561-743-1313
Internet: http://www.perryslingsbysystems.com