Stolt-Nielsen S.A. Reports Unaudited First Quarter of 2008 Results

LONDON, Apr 17 (MARKET WIRE) --
Stolt-Nielsen S.A. (Oslo Bors: SNI) today reported unaudited results for the
first quarter ended February 29, 2008.

Effective December 1, 2007, Stolt-Nielsen S.A. (the "Company" or
"SNSA") adopted International Financial Reporting Standards ("IFRS") for
preparing the financial statements of SNSA and its subsidiaries. The Company
has
transitioned from U.S. generally accepted accounting standards ("US GAAP") to
IFRS. The first set of audited IFRS financial statements will be issued
for the year ending November 30, 2008 along with comparatives for 2007
under IFRS. For purposes of this release, the historical financial
information included herein has been translated from US GAAP to conform to
IFRS. To assist readers understand the impact of these changes we have
includedAppendix A to this press release providing reconciliations of the
consolidated Shareholders equity as of November 30, 2007 and
consolidated Operating profit and Net profit for the four quarters and year
ended November 30, 2007, as well as relevant segment information. This
financial information has been prepared based upon accounting policies that
management expects to be applicable when SNSA prepares its first complete
set of IFRS financial statements. These accounting policies have been
posted on
the SNSA web site (www.stolt-nielsen.com). While the financial figures
included in this preliminary interim earnings announcement have been
computed in accordance with IFRS applicable to interim periods, this
announcementdoes not contain sufficient information to constitute an
interim financial
report as that term is defined in IFRS.

Highlights for the first quarter of 2008, compared with the fourth
quarter of
2007, included:

* Revenue of $481.1 million, up 4% from $460.8 million.

* Operating profit of $54.6 million, up from $51.1 million.

* Profit from continuing operations of $42.3 million, compared
with
$42.4 million.

* The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1]
increased
to 1.29, up by 3.2% from 1.25.

* Stolthaven Terminals reported solid results for the quarter,
with
high rates of utilization at both the Company's wholly owned and joint venture
terminals worldwide.

* Results at Stolt Tank Containers reflected strong global demand,
with some impact on margins due to rising operating costs.

* At Stolt Sea Farm, while revenues increased, turbot prices
fell,
resulting in the mark-to-market fair value revaluation of SSF's biological
assets, which impacted results negatively by $3.5 million.

[1] The Stolt Tankers Joint Service Sailed-in Time-Charter Index is an
indexed measurement of the sailed-in rate for the Joint Service and was set at
1.00 in the first quarter of 1990 based on the average sailed-in time-charter
result for the fleet at the time. The sailed-in rate is a measure frequently
used by shipping companies, which subtracts from the ships' operating revenue
the
variable costs associated with a voyage, primarily commissions, sublets,
transshipments,
port costs, and bunker fuel.

SNSA 1Q08 Earnings Release: http://hugin.info/154/R/1210362/250452.pdf

SNSA 1Q08 Earnings Release Presentation:
http://hugin.info/154/R/1210362/250453.pdf

Copyright Hugin AS 2008. All rights reserved.

Contacts:
Jan Chr. Engelhardtsen
U.K. +44 (0) 20 7611 8972
Email Contact

Jens F. Gruener-Hegge
U.K. +44 (0) 20 7611 8985
Email Contact

Copyright 2008, Market Wire, All rights reserved.

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