SNI STOCK OPTIONS

On November 19 2013, Jan Chr Engelhardtsen, Chief
Financial Officer of Stolt-Nielsen Limited, and a
Primary Insider of Stolt-Nielsen Limited, exercised
37,500 stock options at a price of $7.33.

After this transaction, Jan Chr Engelhardtsen holds
77,150 shares in Stolt-Nielsen Limited and 60,000
stock options, of which all are exercisable.