STOLT-NIELSEN S.A.                                  [LOGO OF STOLT-NIELSEN S.A.]

c/o Stolt-Nielsen Ltd.       Tel: +44 207 611 8960
Aldwych House                Fax: +44 207 611 8965
71-91 Aldwych                www.stolt-nielsen.com
London WC2B 4HN
United Kingdom

            STOLT-NIELSEN S.A. PURCHASED 101,450 OF ITS COMMON SHARES

London, England - May 3, 2006 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock
Exchange: SNI) announces that Stolt-Nielsen Transportation Group Ltd. (SNTG), a
100% owned subsidiary of SNSA, purchased today 101,450 of SNSA Common Shares on
the Oslo Stock Exchange at an average price of NOK 163.50 per share
(approximately $26.68 at the current exchange rate). The shares were purchased
in accordance with the repurchase program announced on August 25, 2005,
authorizing Company to purchase up to $200 million worth of its Common Shares or
related American Depositary Shares.

Accordingly, in conformity with applicable Oslo Stock Exchange requirements, we
report that Stolt-Nielsen S.A., through its wholly-owned subsidiary,
Stolt-Nielsen Transportation Group Ltd., after this transaction has the
following ownership (in the aggregate) in Stolt-Nielsen S.A., whose Common
Shares are secondarily listed on the Oslo Stock Exchange with primary listing
(through ADS arrangements) in the United States:

Total number of Common Shares purchased: 101,450
Total number of Common Shares owned after purchase: 3,395,550
Percentage of issued shares of such class of shares following such purchase:
5.1%

Including today's purchases, the Company has purchased Common shares totaling
approximately $106.6 million under the $200 million repurchase program announced
on August 25, 2005.

All Common Shares purchased by SNTG are classified as non-voting shares held in
Treasury and issued but not outstanding.

Any further buyback transactions will be disclosed through the disclosure system
of the Oslo Stock Exchange, a press release, and on the Company's website at
www.stolt-nielsen.com.


Contact:   Richard M. Lemanski
           U.S. 1 203 299 3604
           rlemanski@stolt.com

           Jan Chr. Engelhardtsen
           UK 44 20 7611 8972
           jengelhardtsen@stolt.com

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ABOUT STOLT-NIELSEN S.A.

Stolt-Nielsen S.A. (the "Company") is one of the world's leading providers of
transportation services for bulk liquid chemicals, edible oils, acids, and other
specialty liquids. The Company, through the parcel tanker, tank container,
terminal, rail and barge services of its wholly-owned subsidiary Stolt-Nielsen
Transportation Group, provides integrated transportation for its customers.
Stolt Sea Farm, wholly owned by the Company, produces and markets high quality
turbot and Southern bluefin tuna.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements may be identified by the use of words
like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan,"
"project," "will," "should," "seek," and similar expressions. The
forward-looking statements reflect our current views and assumptions and are
subject to risks and uncertainties. The following factors, and others which are
discussed in our public filings and submissions with the U.S. Securities and
Exchange Commission, are among those that may cause actual and future results
and trends to differ materially from our forward-looking statements: the general
economic conditions and competition in the markets and businesses in which we
operate; changes in the supply of and demand for parcel tanker, tank container
and terminal capacity in the markets in which we operate; changes in the supply
of and demand for the products we transport, particularly the bulk liquids,
chemicals and other specialty liquids that form the majority of the products we
transport; prevailing market rates for the transportation services we offer and
the fish products we sell; the cost and feasibility of maintaining and replacing
our older ships and building or purchasing new ships; uncertainties inherent in
operating internationally; the outcome of legal proceedings; Stolt-Nielsen
S.A.'s relationship with significant customers; the impact of negative
publicity; environmental challenges and natural conditions facing Stolt-Nielsen
S.A.'s aquaculture business; the ability to complete the Marine Harvest sale
transaction; the impact of laws and regulations; and operating hazards,
including marine disasters, spills or environmental damage. Many of these
factors are beyond Stolt-Nielsen S.A.'s ability to control or predict. Given
these factors, you should not place undue reliance on the forward-looking
statements. Should one or more of these risks or uncertainties occur, or should
management's assumptions or estimates prove incorrect, actual results and events
may vary materially from those discussed in the forward-looking statements.

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