1. Yme MOPUstor Platform
As stated on 11 January 2012, SBM Offshore is facing increased challenges with the hook up and commissioning of the Yme platform. Continuing intransigence and unreasonable client demands, which are being aggressively resisted, are contributing significantly to the very low productivity and increased scope of work, all of which are the subject of arbitration proceedings with the client. This is further exacerbated by continuing bad weather.
The revised financial consequences will be released at the earliest feasible point and are expected to lead to a significant additional adverse impact on the Company's 2011 results, with the eventual outcome dependant upon resolution of ongoing disputes with the client.

SBM OFFSHORE N.V. CFO TO STAND DOWN AT END OF TERM
Mr Mark Miles and the Supervisory Board have mutually agreed that he will not stand for re-election at the next AGM on 16 May 2012.

The Supervisory Board will take steps to arrange for Mr Miles' succession. Until such time Mr Miles has agreed to continue as CFO of the Company.

The Supervisory Board and the Board of Management wish to thank Mr Miles for his valuable contribution.