Perry Slingsby - Press Release - October 6, 2005

Perry Slingsby Systems to Provide Three (3) Triton® XLS Systems to Canyon Offshore, with an option for an additional Two (2).

Perry Slingsby Systems (PSS), an international provider of remote intervention technologies and equipment systems, is pleased to announce that Canyon Offshore has purchased three additional 125 horsepower TritonÒ XLS ROV systems, with an option for an additional two systems. Canyon will receive the new XLS TMS®, extended length tether management system, that features 650 meters of neutral tether with greater hydraulic power and enhanced line pull. The system is based on the field proven reliable XL TMS® established as a standard in the industry since being introduced in 1994.This order will increase the Canyon XLS fleet to double digits (10), six of which will potentially be 125HP XLS’s; bringing Canyon Offshore’s total of Perry Slingsby Systems supplied ROVs and Trencher systems to 24.

Anticipating greater market demand in 2005 and 2006, PSS initiated a stock build program utilizing both manufacturing facilities, Jupiter, Florida (USA) and Kirkbymoorside, York (UK). From these combined facilities PSS is able to deliver two Triton® XLS ROV systems per month, in addition to other significant deliveries from their other business lines; Standard & Bespoke Tooling, Defense, Control & Process Products, Geotechnical & Seabed Systems and Support Services.

Martin Anderson, Managing Director and CEO, Perry Slingsby Systems, commented “We are very pleased to be working with Canyon Offshore to meet their future fleet expansion needs. This contract builds on a strong continued relationship between the two companies and reinforces our position as the world’s leading independent supplier of remotely operated vehicles. The Triton® XLS 125HP is the latest evolution of the highly successful and proven Triton® XL series, incorporating more thrust, payload and space, features clients have been quick to capitalize on.”

Perry Slingsby Systems, a member of the Technip Group, is an internationally recognized provider of remote intervention technologies and equipment systems. Perry Slingsby Systems focuses on six principal Business Lines: Remotely Operated Vehicles (ROVs), Trenchers and Robotics; Standard and Bespoke Tooling Systems; Support Services; Defense; Process and Control Products; Geotechnical and Seabed Systems. For nearly 50 years, from facilities in the US and in the UK, sales offices and agents around the world, Perry Slingsby Systems has solved customers' remote intervention challenges with design and engineering innovations that have become the benchmark for reliability and cost efficiency.

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For further information, please contact:

USA: PERRY SLINGSBY SYSTEMS, INC.
Natasha Trenorden - Business Planning & Marketing Systems
pssi@us.perrymail.com

821 Jupiter Park Drive, Jupiter, FL 33458
Tel: 561-743-7000
Fax: 561-743-1313
Internet: http://www.perryslingsbysystems.com