Hydralift ASA PRELIMINARY RESULTS 1999 Company Overview Current

Hydralift ASA PRELIMINARY RESULTS 1999

Company Overview Current Projects Financials Outlook

Company Overview This is Hydralift: • Established 1965 • Leading supplier of equipment to the oil & gas and marine industry • Product design and engineering in-house • Fabrication outsourced

Company Overview Turnover and Employees

Company Overview

Company Overview Product Range • Drilling Equipment • Tensioning-/Compensation Equipment • Offshore- and Marine Cranes • Turret Equipment for FPSO’s • Cable Laying Equipment • Well Intervention Equipment

Company Overview Offshore/Cable Laying Equip. & Marine Total Revenues 1999 NOKm 1. 396, 1 Gross Contribution NOKm 286

Company Overview International Network • Subsidiaries: USA, UK, France n Service network: Australia, China, Holland, Hong Kong, India, Japan, Poland, Singapore, United Arab Emirates, USA

Company Overview Current Projects Financials Outlook

Current Projects Cable Laying Equipment Client Product Delivery Year A. P. Møller - Newbuilding 4 complete HL-packages 1 H/2 H 00 Tele Danmark International 1 complete HL-package Feb. 00 Caldwell 1 partial package Feb. 00

Current Projects Drilling Products/Offshore Cranes Client Snorre/Saga Stena Drilling Product Riser Tensioners 1 Q Hydra Lift Rig/Cranes Saipem 10000/Scarabeo 7/Bingo. I Delivery 00 July Commissioning 00 2 Q/3 Q 00 Year

Current Projects Hydralift Inc. Client Product Delivery Discoverer Enterprise III/Transocean Riser Tensioners Feb. Reading & Bates BOP Handling/ Riser Tensioners Feb. 00 Caldive Misc. Drilling Equipm. 1 H Shell Brutus Riser Tensioners 01 1 Q 00 00 Year

Company Overview Current Projects Financials Outlook

Preliminary Result 1999

Financials Income Statement

Financials Revenues and Margins

Financials Revenue per Product Group 1998 1999

Financials Business Area Split

Financials Revenues & Margins - Offshore

Financials Revenues & Margins - Marine

Financials Balance Sheet

Company Overview Current Projects Financials Outlook

Outlook Order Book Intake and Backlog

Outlook Total Order Book • Total – – – order book end 1999 Drilling NOKm 180 Tensioners Offshore Cranes NOKm 51 Marine Handling Equip. Cable Laying NOKm 78 Spare parts Total NOKm 52 NOKm 55 NOKm 4 420

Outlooks • Fixed platforms Norwegian Sector: - Kvitebjørn Statoil - Grane Norsk Hydro - Ringhorn Esso - Valhall BP Amoc • Rig upgradings • Rig newbuildings • FPSO’s • Cable laying vessels (30 -40) • Offshore cranes misc. units • Marine cranes