Yangzijiang Shipbuilding (Holdings) announces shipbuilding contracts with Seaspan Corporation

The Board of Directors of Yangzijiang Shipbuilding (Holdings) Ltd. (the “Company”) or (the “YZJ”) is pleased to announce that its subsidiaries, Jiangsu New

Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd had entered into shipbuilding contracts worth US$0.7 billion with Seaspan Corporation on 8 June 2011 to build seven units of 10,000 TEU containerships with options for additional eighteen units of identical vessels to be built. If all eighteen options are exercised, the total estimated value of the twenty-five units of 10,000 TEU containerships is expected to be US$2.5 billion.
These seven new vessels are scheduled for delivery in 2014 and 2015. This newly developed
container vessel type is fuel-efficient in nature and its proprietary designs meet the current demand for larger capacity vessels with lower emission and eco-friendly.
The above investment will not have any significant impact on the earnings per share and net tangible assets per share of the YZJ Group for the current financial year ending 31 December 2011.
Save for their respective shareholdings in the Company, none of the directors or controlling
shareholders or substantial shareholders of the Company has any interest, direct or indirect, in the transaction contemplated herein.