Further deferrals of interest payments

Reference is made to the press-releases of 2 September 2009

Reference is made to the press-releases of 2 September 2009 in which Nexus Floating Production published a summons to a bondholders meeting related to the  Company's USD 175 million second lien bond loan and the USD 75 million convertible loan (together the "Bond Loans"). 

In the bondholders meeting held today for each of  the Bond Loans, the proposals to

1. Defer the interest payment dates for the USD 175 million second lien bond loan from 7 September 2009 to 30 September 2009, and from 25 September 2009 to 1 October 2009 for the USD 75 million convertible bond loan. 
2. On a monthly basis give the Loan Trustee a Power of Attorney to further defer the interest payment dates originally due in September provided 50% of the Bondholders agree.  Each new deferral of the interest payment due dates will be subject to the banks agreeing to release sufficient working capital for the same period.  

were approved. 

This will give the Company more time to continue the discussions with its banks and bondholders in order to seek a solution to its current financial challenges.

For further information, please contact:

   Anders Holm, CEO
   aho@nexusfp.no
   +47 90 60 50 72

   Arild Bårdsen, CFO
   aba@nexusfp.no
   +47 92 66 75 90

Nexus Floating Production Ltd is located in Singapore and has, through its subsidiary Nexus Floating Production Norge AS  a project office in Arendal, Norway.
The company's strategy is to be a world-class leading supplier of high quality harsh environment FPSOs. The company has ordered two FPSO's from Samsung Heavy Industries in Korea and two Submerged Turret Production (STP) systems from Advanced Production and Loading (APL). The first vessel was completed in July 2009.