Ocean Wilsons Holdings Limited today announces its interim management statement in accordance with the UK Listing Authority's Disclosure and Transparency rules. 

Our Operations

Ocean Wilsons Holdings Limited ("Ocean Wilsons") is a Bermuda based investment company and through its 58.25% equity interest in its subsidiary, Wilson Sons Limited controls a maritime services and logistics company in Brazil.  

Results

Revenue for the nine months ended 30 September 2010 was US$416.4 million up 19.5% on the comparative period in 2010 (US$348.6 million) principally due to increases in our port operations and logistics business. All the Group's sales are derived from our Brazilian operations held through Wilson Sons Limited.

Wilson Sons Limited announced today to the São Paulo Stock exchange and Luxembourg Stock Exchange their results for the third quarter ended 30 September 2010. Wilson Sons reports:

· Revenues up 18.4% compared to 3Q09 to USD 153.5 million (YTD up 19.5%);

· Port Terminals' quarterly revenues up 31.7% (YTD up 29.7%), with

growth in both Container Terminals and Brasco;

· Towage revenues for the quarter up 2.0% (YTD up 6.0%), with strong

demand in support to Oil & Gas activities;

· EBITDA was USD 25.2M for the quarter (YTD EBITDA of USD 91.1M

down 9.3%). EBITDA would have been USD 35.6M if a USD 10.4M

dollar re-categorisation related to the formation of the Offshore Joint

Venture had not occurred;

· Net income of USD 24.6M for the quarter, down 6.4% (YTD USD 61.9M,

down 18.1%).

Their full announcement is available on the Wilson Sons website (www.wilsonsons.com.br) and at the Brazilian and Luxembourg stock exchange websites.

Investment Portfolio

At 31 October 2010 the investment portfolio including cash under management amounted to US$255.1 million of which US$28.6 million was invested in cash and cash equivalents. The investment portfolio represents US$7.21 (£4.52) per Ocean Wilsons share.

The 20 largest holdings at 31 October 2010 were:

BlueCrest All Blue Leveraged Feeder Fund USD Class A	11,638,595
CIP Emerging Markets Debt Fund Cd	11,423,733
GLG Emerging Currency and Fixed Income Fund	11,127,848
Lansdowne UK Equity Fund Ltd	10,917,119
Findlay Park Funds PLC - American Smaller Companies Fund	10,716,203
BlackRock World Mining Trust Plc	9,836,764
AR New Asia Fund	8,514,674
Oaktree CM Value Opportunities (Cayman) Fund Limited	7,036,648
Investec Global Strategy Fund SICAV - Enhanced Global Energy Fund	6,505,407
Jupiter European Opportunities Trust Plc	6,346,232
BlackRock UK Emerging Companies Hedge Fund I60 USD Class	6,320,829
Aberdeen Global Asia Pacific (Class D)	6,080,487
QFR Victoria Fund Ltd Class C Series 02/10	5,820,104
Winton Futures Fund USD Class B	5,370,648
SR Global Fund Class G Emerging Markets	5,353,221
Schroder ISF Emerging Markets Debt Absolute Return Class C Dis	5,211,014
Schroder ISF Global Energy Class C Dis USD	5,049,169
Bluebay Macro Fund Class A USD Pending Subscription	5,000,000
Prosperity Quest Fund Class B USD	5,000,000
ARC Capital Holdings Ltd	4,769,901

Wilson Sons Limited valuation

At the close of business on 5 November 2010 the Wilsons Sons Limited share price was 29.75 Brazilian Reais, resulting in a market value for the Ocean Wilsons 58.25% holding in Wilson Sons Limited of approximately US$734 million which is equivalent to US$20.75 (£12.81) per Ocean Wilsons share. 

Shareholders should be aware that in addition to Wilson Sons Limited and the investment portfolio the Group has other assets and liabilities on its Balance sheet. In the opinion of the Directors the net impact of these items would not have a material effect on the valuation of the business.