austal european contracts

Reports on Contract Negotiations

AUSTAL LIMITED 2003-03-19 ASX-SIGNAL-G

HOMEX - Perth

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In response to recent market activity and rumors, Austal Limited
confirms that the Company is currently in advanced negotiations on
various contracts.

These contracts may be realized in the near future however a number
of conditions are still to be met.

In accordance with Austal practice, the Company will advise the
market regarding the securing of these contracts in compliance with
ASX guidelines.

For further information contact:

Bob McKinnon, MANAGING DIRECTOR, Austal Limited
OR
Claire Stannard, PUBLIC RELATIONS CO-ORDINATOR, Austal Ships
Telephone: + 61 8 9410 1111
Facsimile: + 61 8 9410 2564
Mobile: 0439 968 516
Email: [email protected]
www.austal.com