SNI STOCK OPTIONS
In March 2012 there were no stock options exercised
by employees of Stolt-Nielsen Limited.
As a consequence of use of treasury shares to satisfy
stock options exercised, no new Common Shares were
The total number of issued Common Shares as of March
31, 2012 is 64,133,796.
Total number of Common Shares held by Stolt-Nielsen
Limited as of March 31, 2012 is 6,222,275.
Total number of Common Shares therefore outstanding
as of March 31, 2012 is 57,911,521.