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Revenues for 1st quarter 2007 up 18.1%

Paris, May 10, 2007

Offshore Division up by 33.0% (+41.8% at constant exchange rates)
Bulk Division up by 22.6% (+33.5% at constant exchange rates)

BOURBON's revenues in the first quarter of 2007 totaled 200.1 million euros, up +18.1% over the same period in 2006 (+25.7 % at constant exchange rates).

(millions of euros) Q1 2007 Q1 2006 At current exchange rates At constant exchange rates
BOURBON 200.1 169.4 +18.1% +25.7%
Breakdown by Division
Offshore 105.4 79.3 +33.0% +41.8%
Towage & Salvage 31.1 32.5 -4.4% -4.4%
Bulk 50.4 41.1 +22.6% +33.5%
Other 13.2 16.5* -19.7% -11.3%

*Pro forma

Breakdown of revenues at March 31, 2007 by geographical area and by Division
France International
(millions of euros) Q1 2007 Q1 2006 Q1 2007 Q1 2006
BOURBON 36.9 40.1 163.2 129.3
Breakdown by Division
Offshore 2.9 2.7 102.5 76.6
Towage & Salvage 25.9 27.9 5.2 4.6
Bulk 7.0 8.5 43.4 32.6
Other 1.1 1.0* 12.1 15.5*

*Pro forma

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May 10th press release

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