SNI STOCK OPTIONS

In January 2011, employees of Stolt-Nielsen Limited
(formerly Stolt-Nielsen S.A.), exercised options to
acquire a total of 1,275 Common Shares of Stolt-
Nielsen Limited. All shares have been acquired at a
volume weighted average price of USD 7.33. Total
proceeds were USD 9,345.75.

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
January 31, 2011 is 64,133,796.

Total number of Common Shares held by Stolt-Nielsen
Limited as of January 31, 2011 is 4,530,920

Total number of Common Shares therefore outstanding
as of January 31, 2011 is 59,602,876.