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Noble Denton acquires Lowe

London, September 4th 2007: Noble Denton Group announced today the acquisition of Lowe Offshore International Ltd. (LOI). The move will significantly strengthen the Group’s international capability and increase annual turnover to in excess of 100 million USD.

Lowe Offshore International Ltd. was founded in 1981 to provide complete project management services to the oil and gas industry. It provides a comprehensive range of services including: project management, construction supervision, procurement, regulatory interface, quality control and assurance. The company has a strong track record for the effective completion of both deep and shallow water developments and has experienced strong growth in the demand for these services during the current business cycle.

Personnel from Noble Denton’s project management and engineering subsidiary Offshore Dynamics will move into Lowe Offshore’s existing premises in Houston to create a new specialist offshore project management and engineering alliance. All staff from both companies will be retained and an active recruitment campaign will be initiated.

David Sutton, Chief Executive Officer of Noble Denton Group, said: "This is a hugely exciting time for the Group and we look forward to a successful and rewarding working partnership with Michael Lowe and all the LOI employees. Lowe Offshore has a long history of reducing customer project execution risks by providing high quality project management systems and best in class personnel. The company is a very good fit for Noble Denton and will underpin the Group’s recent consolidation of the Offshore Dynamics brand as a global project management and engineering service provider. The move will open up a lot of exciting new opportunities for both companies, especially in deep water and floating production applications.”

Michael Lowe, President of Lowe Offshore International Ltd. stated: “The combination of our companies is an ideal opportunity because there is no overlap in services offered by Lowe Offshore and the Noble Denton companies. This will allow us to strengthen our project management skills and systems to offer the industry a total package of services for FPSO and deepwater projects. Noble Denton has established international offices which eases the burden to enter those markets. Our current Gulf of Mexico and International markets will remain a key part of our business plan with the enhanced services. ”

Lowe Offshore International