Exhibit 99.1



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                    3:19AM 2005.05.02  (GMT+1)

                    Stolt-Nielsen S.A. and Nutreco Holding N.V. Complete the
                    Merger of Marine Harvest to Create the World's Largest
                    Aquaculture Company

                    London, England - May 2, 2005 - Stolt-Nielsen S.A.
                    (NasdaqNM: SNSA; Oslo Stock Exchange: SNI) and Nutreco
                    Holding N.V. today announced the completion of the merger of
                    their worldwide fish farming, processing, and marketing and
                    sales operations into a stand-alone new business entity,
                    Marine Harvest. SNSA will hold a 25% share in the new
                    company and Nutreco 75%. The signing of a Memorandum of
                    Understanding for the merger by both parties was announced
                    on September 13, 2004.

                    Marine Harvest has over 6,000 employees worldwide and annual
                    sales of approximately EUR 850 million in salmon, cod,
                    halibut, tilapia and other farmed fish. Marine Harvest will
                    be the leader in all of the markets in which it operates and
                    will be led by a management with extensive industry
                    experience.

                    The new management of Marine Harvest has now taken control
                    of the combined operations. Marine Harvest's Executive Board
                    consists of Mr. Hans den Bieman (Chief Executive Officer),
                    Mr. Harry van Beek (Chief Financial Officer) and Mr. James
                    Stove Lorentzen (Executive Director). The head office will
                    be in Amersfoort, the Netherlands. The Supervisory Board
                    will be chaired by Mr. Svein Rennemo. Other members are Mr.
                    Niels G. Stolt-Nielsen (CEO Stolt-Nielsen S.A.), Mr. Wout
                    Dekker (CEO Nutreco Holding N.V.), and Mr. Cees van Rijn
                    (CFO Nutreco).

                    Through the Marine Harvest merger, SNSA has kept the future
                    upside potential of an exciting industry by holding a
                    significant stake in what both SNSA and Nutreco intend to
                    become a public company. SNSA's turbot and sole operations
                    in Europe and southern bluefin tuna operations in Australia
                    are not included in the Marine Harvest merger.

                    As part of the closing procedure, due diligence will be
                    performed to determine the starting balance sheet under IFRS
                    for the new Marine Harvest. As of its second quarter ended
                    May 31, 2005, SNSA's shareholding in Marine Harvest and
                    subordinated shareholder loans to Marine Harvest will be
                    reported as an investment in a non-consolidated joint
                    venture in the balance sheet of SNSA. SNSA's share of 25% in
                    the results of Marine Harvest will be reported in 'equity in
                    net income of non-consolidated joint ventures'.

                    Marine Harvest will be well capitalized and have a strong
                    balance sheet with initial funding consisting of equity and
                    shareholder loans. It is the intention that in the near
                    future Marine Harvest will be financed independently of its
                    shareholders. Marine Harvest intends to pursue an Initial
                    Public Offering (IPO) at the appropriate time.

                    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, bluefin tuna. The Company also has a
                    25% interest in Marine Harvest, the world's


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                    leading aquaculture company.

                    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. These statements include statements
                    regarding Stolt-Nielsen S.A.'s future market environment,
                    outlook, and financing costs. 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 Stolt-Nielsen S.A.'s 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 terms, conditions and amount
                    of Stolt-Nielsen S.A.'s indebtedness; Stolt-Nielsen S.A.'s
                    ability to comply with its financing agreements; the general
                    economic conditions and competition in the markets and
                    businesses in which Stolt-Nielsen S.A. operates; the outcome
                    of legal proceedings; the impact of negative publicity;
                    environmental challenges and natural conditions facing
                    Stolt-Nielsen S.A.'s aquaculture business; completion of the
                    2004 fiscal year audit, the impact of laws and regulations;
                    uncertainties inherent in operating internationally;
                    Stolt-Nielsen S.A.'s relationship with significant
                    customers; 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.


                    Contact:
                    Richard M. Lemanski
                    U.S. 1 203 625 3604
                    rlemanski@stolt.com

                    Valerie Lyon
                    UK 44 20 7611 8904
                    vlyon@stolt.com

                                             Stolt-Nielsen S.A.

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