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[STX Business Group] STX Starts Smooth Sailing With New Orders in January 2010 2010-01-27

STX Business Group has succeeded in a striving of new orders as the new year begins. STX Offshore and Shipbuilding received an order for four 57,300DWT bulk carriers (including two as an option) from Densa, a Turkish shipping company, in January. In addition, it concluded a contract for the shipbuilding of two 81,000DWT class bulk carriers (including one as an option) with another European shipping company.

While the world’s shipbuilding industry was experiencing difficulties due to the depression in the

shipbuilding market in 2009, major affiliates of STX Business Group in this sector achieved significant levels of order receipts for a total of 31 ships valued at US$2.5 billion. Since the number of new shipbuilding orders has increased gradually from the end of 2009, it is expected that STX will receive an increase in orders in 2010.

Meanwhile, in the wind power generation sector, STX Windpower recently concluded an MOU for a turn-key base supply and maintenance of a total of 50MW wind power generation systems, including engineering and installation, with Main Wind Company in Netherlands.

In addition, STX Construction was awarded a large public civil works project totaling 319.3 billion won. on January 18th, STX Construction received an order for the ‘Samcheok LNG Base Revetment and Site Preparation Works’amounting to approximately 127.3 billion won. Followed by an order for the‘ 17th Construction Section’of the‘ Four Major Rivers Rehabilitation Project’amounting to approximately 192 billion won in January 15th.

STX Business Group plans to achieve its order receipt goal of 33 trillion won for 2010 by continuing the order receiving march it started at the beginning of 2010.

STX Starts Smooth Sailing With New Orders in January 2010 - Consecutive orders received in shipbuilding, wind power generation and construction business area

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