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October 7, 2005

Austal preferredbuilder for Istanbul ferries

According to Australian Stock Exchange announcement filed yeterday, Austal has received official confimation naming it the preferred builder of two ferries for the Istanbul, Turkey, Metropolitan Municiplaity.

The two 88 m aluminum Auto Expressal car passenger ferries will be operated by Istanbul Deniz Otobusleri. It is expected that a contract will be comcluded in late 2005.

The value of the tender is approximately Australian $143 million (about US $108.5 million).