Listed on the Oslo OTC Stock Exchange in Norway with its headquarters in Singapore, Yantai Raffles Shipyard ("YRS") specializes in the construction of various marine and offshore projects that include jack-up drilling rigs, semi-submersible drilling rigs, FPSOs, platform supply vessels, luxury yachts and other units. The 72-hectare shipyard boasts state-of-the-art building facilities, including a large gantry crane with lifting capacity of 20,000 metric tons due for completion in mid-2007, and employs the latest technologies to achieve operational efficiencies and lower costs. With its core mission of attaining excellent quality, competitive pricing and client satisfaction, YRS remains committed to be The Yard Of Choice.