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 382,950 of its Common Shares

London, England - May 16, 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 382,950 of SNSA Common Shares on
the Oslo Stock Exchange at an average price of NOK 164.05 per share
(approximately $26.91 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: 382,950
Total number of Common Shares owned after purchase: 4,515,000
Percentage of issued shares of such class of shares following such
purchase: 6.8%

Including today's purchases, the Company has purchased Common shares totaling
approximately $136.6 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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                                                    [LOGO OF STOLT-NIELSEN S.A.]


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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