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 to Seek U.S. Supreme Court Review to Prevent Attempt by
                 Justice Department to Breach Amnesty Agreement

London, England - July 14, 2006 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock
Exchange: SNI) today announced, upon the formal issuance of the March 2006 Third
Circuit decision, that it will seek U.S. Supreme Court review of that Third
Circuit decision. The Company is doing so to prevent the attempt by the Justice
Department's Antitrust Division to breach the Amnesty Agreement that protects
Stolt-Nielsen from criminal prosecution.

"The rule of law and fundamental fairness demand that bargained-for promises,
especially those given by Antitrust Division prosecutors, be kept," said James
B. Hurlock, an outside director and Chair of the SNSA Board of Directors' Legal
Affairs Committee. Hurlock added, "We went into the Amnesty Program in order to
protect our shareholders, and that remains our goal."

In January 2005, a U.S. federal district court in Philadelphia found that the
Amnesty Agreement between Stolt-Nielsen and the Antitrust Division precluded any
criminal prosecution of the Company or its executives.

The district court remains the only court to have considered this case on its
merits. After an evidentiary hearing featuring live witness testimony from both
sides, that court issued an injunction barring the Division from bringing any
indictment. The district court made 89 findings of fact, including that
Stolt-Nielsen had performed its side of the bargain. The Antitrust Division has
successfully prosecuted other firms based on Stolt-Nielsen's cooperation.

In March 2006, a two-judge panel of the Third Circuit appeals court reversed the
injunction on narrow separation of powers grounds, holding that district courts
do not have the authority to enjoin the Division prior to an indictment. The
Third Circuit did not, however, disagree with the district court's factual
findings, including its conclusion that prosecution by the Antitrust Division
would breach the Amnesty Agreement.

The Third Circuit further held that the appropriate procedure was for
Stolt-Nielsen, following any indictment, to file a pretrial motion to dismiss
the indictment based on the Amnesty Agreement defenses. The Third Circuit
emphasized that Stolt-Nielsen could file such a motion immediately after any
indictment. The Third Circuit ruling became official today, when the Court
issued its mandate.

Stolt-Nielsen today reiterated its determination to exercise all of its legal
rights and remedies to resist any Antitrust Division prosecution. Stolt-Nielsen
will be seeking a U.S. Supreme Court ruling on the authority of federal courts
to enjoin prosecutions.

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                                                    [LOGO OF STOLT-NIELSEN S.A.]

If the Antitrust Division seeks indictment of the Company, the Company will
promptly move to dismiss the indictment. On such a motion, the Company would
advance the very same legal arguments it prevailed upon when it convinced the
district court to enjoin any prosecution based on its written Amnesty Agreement
with the Antitrust Division.

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

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

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 the Company's current views and assumptions
and are subject to risks and uncertainties. The following factors, and others
which are discussed in the Company'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 the Company's
forward-looking statements: the general economic conditions and competition in
the markets and businesses in which the Company operates; changes in the supply
of and demand for parcel tanker, tank container and terminal capacity in the
markets in which the Company operates; 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 that we transport;
prevailing market rates for the transportation services that the Company offers
and the fish products that the Company sells; changes in bunker fuel prices; the
cost and feasibility of maintaining and replacing the Company's older ships and
building or purchasing new ships; uncertainties inherent in operating
internationally; the outcome of legal proceedings; the Company's relationship
with significant customers; the outcome of discussions with customers concerning
potential antitrust claims; the impact of negative publicity; environmental
challenges and natural conditions facing the Company's aquaculture business; the
impact of laws and regulations; operating hazards, including marine disasters,
spills or environmental damage; the conditions and factors that may influence
the decision to issue future dividends; and the market for long-term debt. Many
of these factors are beyond the Company'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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