Mandatory Notification of Trade

Alan B. Winsor, Primary Insider of Stolt-Nielsen
Limited, has exercised 4,200 Stock Options at a price
of USD 14.75 and today acquired the 4,200 shares in
Stolt-Nielsen Limited.

After this transaction, Alan B. Winsor holds 4,200
shares and 37,250 Stock Options of which 35,200 are
exercisable.