BP/Amoco and Shell UK Order Joint Studies for Use of Offshore Shuttle.

HOUSTON--(BUSINESS WIRE)--May 3, 1999--

Marine Shuttle Operations Inc. (OTC BB:ZSUB) announced that its Norwegian subsidiary Marine Shuttle Operations AS ("MSOAS"), together with the advanced engineering department at Amec Process & Energy, UK, has been awarded joint industry studies by BP/Amoco and Shell UK to examine the feasibility and cost of using the Offshore Shuttle in the removal of major North Sea structures.

These studies follow the initiative of BP/Amoco and Shell UK, whereby information can be shared between themselves on the technical capability and competitiveness of the Shuttle. The BP/Amoco and Shell study is a continuation of a previous BP/Amoco study completed in January 99 for the removal of large topsides (18,000 to 20,000 tons) in the North Sea UK sector. This second phase is intended to complete the study of the topside removal operation and addresses the following:

-- Removal of a steel jacket (approx. 35,000 tons) by sub-sea cutting into sections followed by lifting and transport onshore with the Offshore Shuttle.

-- Removal of a steel jacket (approx. 19,000 tons) with and without footings by lifting and transport onshore and off-loading with the Offshore Shuttle.

-- Removal of a stiffened plate deck (approx. 20,000 tons) from a concrete gravity structure by lifting and transporting onshore and off-loading with the Offshore Shuttle.

Cost estimates for the total operations will be prepared for all the cases being studied.

MSOAS Project Director, Douglas Smith, is confident that these studies will confirm to potential clients that the Offshore Shuttle will be a viable alternative to the traditional heavy lift systems. Additional studies are planned for other clients for later in the year.

The evaluation process of the bids received for the construction of the Offshore Shuttle No.1 has commenced. The company expects to award a contract to a general contractor in the third quarter of 1999 and construction to subsequently commence in the fourth quarter of 1999.

The company, through MSOAS, is seeking to become a leading player in the markets for the decommissioning, installation and transportation of offshore oil and gas structures. The company also owns a majority of the outstanding capital stock of a Norwegian company, Offshore Shuttle AS ("OSAS"), the designer of the "Offshore Shuttle." The company believes the Offshore Shuttle will be capable of lifting and carrying most of the large offshore oil and gas installations without extensive cutting and dismantling.

This release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including statements regarding the timetable for constructing the first Offshore Shuttle, and the ability of the Offshore Shuttle to provide decommissioning, installation, and transportation services, are based on current expectations that involve numerous risks and uncertainties. Actual results could vary materially from the description contained herein due to many factors including changing market conditions, competition, and the risks and uncertainties discussed in the company's Registration Statement on Form S-1 declared effective by the Securities and Exchange Commission on December 21, 1998. The company does not undertake any obligation to update the information contained herein, which speaks only as of this date. HOUSTON/May 3, 1999