SNI STOCK OPTIONS

In March 2010, employees of Stolt-Nielsen S.A.
exercised options to acquire a total of 1,040 Common
Shares of Stolt-Nielsen S.A. All shares have been
acquired at a volume weighted average price of USD
5.90. Total proceeds were USD 6,136.00.

As a consequence of use of treasury shares to satisfy
stock options exercised, no new Common Shares were
issued.

The total number of issued Common Shares as of March
31, 2010 is 64,133,796.

Total number of Common Shares held by Stolt-Nielsen
Transportation Group Ltd. as of March 31, 2010 is
4,478,243.

Total number of Common Shares therefore outstanding
as of March 31, 2010 is 59,655,553.