JANUARY 25, 2013 — Austal is partnering with Singapore's Sembawang Shipyard Pte. Ltd. to provide support specifically tailored to the U.S. Navy's fleet of Littoral Combat Ships (LCS) and Joint High Speed Vessels (JHSV), both of which are expected to operate in the Singapore region. The first LCS is expected to deploy to Singapore in early 2013.

Austal is currently contracted to build ten 103-m JHSVs under a $1.6 billion contract and six 127-m LCSs, four of which are a part of a 10-ship, $3.5 billion contract. Austal has already delivered one LCS and one JHSV.

Austal Chief Executive Officer, Andrew Bellamy, remarked: "Sembawang Shipyard is a world-class shipyard that shares Austal's commitment to providing high quality, superior service and innovative solutions to key customers, especially the U.S. Navy. Sembawang Shipyard' s strong track record and experience in servicing the U.S. Navy and Military Sealift Command vessels over the past four decades makes this an ideal partnership for Austal, especially as the LCS and JHSV fleet enters the region."

Austal Chief Operating Officer – Service and Systems, Charles McGill, commented: "Our strategic partnership with Sembawang Shipyard is the cornerstone of Austal's Asia-Pacific support offering and reinforces Austal's commitment to the region and to the U.S. Navy. Together with our facilities in the Philippines, Darwin and Perth, Austal is now positioned to provide critical sustainment in an increasingly important part of the world."

Ms. Lee-Lin Wong, Executive Director of Sembawang Shipyard said: "Austal is a world leader in high speed vessel construction and support, and this newly forged partnership will reinforce our shipyard's capability in providing high quality, health, safety and environment (QHSE) service to local and visiting high speed vessels through the combination of Austal's expertise and our shipyard's specialized capabilities and facilities for U.S. Navy work."