Mr. Mike Johnston reports

NAUTILUS MINERALS INC.: VESSEL ELECTRICAL INSTALLATION CONTRACT AWARDED TO SIEMENS

Nautilus Minerals Inc.'s order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd., a wholly owned subsidiary of Siemens AG.

Mike Johnston, Nautilus's chief executive officer, commented: "The electrical package marks the fourth major long lead time package to be awarded by the shipyard, Fujian Mawei Shipbuilding. We are especially pleased to be partnering with another world-class, global company such as Siemens. Their involvement with our first sea floor production system, along with other industry heavyweights such as GE Oil and Gas, Sandvik, Soil Machine Dynamics, Rolls Royce, Bedeschi and McGregor, highlights the quality of the system that we are building. We look forward to reporting on Siemens's progress as the vessel construction progresses."

About the electrical installation

Siemens will supply the entire shipboard electrical installation for the company's production support vessel (PSV), to be first deployed for the Solwara 1 project in the Bismarck Sea of Papua New Guinea. The scope of supply will extend to all main generators, switchboards, transformers, electrical motors and associated systems for power generation, propulsion, automation and distribution. Siemens will also be providing various switchboards and transformers to facilitate power distribution to various items of sea floor production equipment to be built into the PSV during the shipbuilding process.

About Siemens

Siemens is a global company, which for over 130 years has been delivering electrical products, systems, solutions and services for the efficient and reliable operation of commercial and naval vessels over their entire life cycle.

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