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

NEWS RELEASE

                   STOLT-NIELSEN TRANSPORTATION GROUP TO BUILD
                     PETROCHEMICAL TERMINAL IN TIANJIN, CHINA

LONDON, ENGLAND - MARCH 9, 2006 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock
Exchange: SNI), announced today that its wholly-owned subsidiary, Stolt-Nielsen
Transportation Group (SNTG), has signed a Memorandum of Understanding with the
Lingang Harbor Affairs Company in Tianjin, China for the long-term lease of
prime waterfront property upon which a state-of-the-art chemical and oil
products terminal is to be built by SNTG.

The terminal will be owned and operated by SNTG. Over the next five years, the
project is expected to result in the construction of 500,000 to 800,000 cubic
meters of storage and related terminal facilities.

"Tianjin is both the main port serving the Tianjin-Beijing region and the
gateway to North China," said Walter E. Wattenbergh, Managing Director of SNTG's
Stolthaven Terminals division. "We are delighted to have the opportunity to work
with our Chinese partners in Lingang to create a major new terminal to support
the needs of both local and international companies with interests in the
region."

The terminal will be located in the Lingang Development Zone, which is primarily
dedicated to the petrochemical industry. The zone currently occupies an area of
20 square kilometers, with plans to expand to 80 square kilometers.

Wattenbergh noted that the construction of the new terminal underscored SNTG's
strategic commitment to continued global expansion and investment in key
emerging markets where customer demand for bulk-liquid transportation and
storage services is accelerating.

Construction of the terminal will proceed in several phases. The initial phase
will include 100,000 cubic meters of storage capacity at an estimated cost of
$75 million. The terminal's first jetty is expected to be operational by August
2006 and will accommodate existing local producers. The terminal will be served
by SNTG's global parcel-tanker fleet, as well as Stolt-NYK Asia Pacific
Services, SNTG's regional fleet operated in partnership with NYK Lines. Further
support will be provided by the coastal fleet of Shanghai Sinochem-Stolt
Shipping Ltd., an SNTG regional partnership operating ten coastal tankers. The
terminal is also expected to benefit from Stolt Tank Containers' expanding
presence in the region, as tank containers increasingly displace drums in
China's domestic markets.

<PAGE>

SNTG, with headquarters in Rotterdam, established a representative office in
Shanghai in 1994 and currently has offices in Shenzen, Shanghai and Tianjin,
employing a total of 50 persons in China.

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

          Jan Chr. Engelhardtsen
          UK 44 20 7611 8972
          jengelhardtsen@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. The Company also owns 25% of Marine Harvest,
the world's leading producer and supplier of farmed salmon.

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 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 general economic conditions and competition in the markets and
businesses in which Stolt-Nielsen S.A. operates; changes in the supply of and
demand for parcel tanker, tank container and terminal capacity in the markets in
which Stolt-Nielsen S.A. operates; changes in the supply and demand for the
products we transport, particularly the bulk liquids, chemicals and other
specialty liquids that form the majority of the products that Stolt-Nielsen S.A.
transports; prevailing market rates for the transportation services that
Stolt-Nielsen S.A. offers; changes in bunker fuel prices; the cost and
feasibility of maintaining and replacing Stolt-Nielsen S.A.'s older ships and
building or purchasing new ships; the outcome of legal proceedings; the outcome
of discussions with customers concerning potential antitrust claims; 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; uncertainties
inherent in operating internationally; Stolt-Nielsen S.A.'s relationship with
significant customers; the conditions and factors that may influence the
decision to issue future dividends; the market for long-tem debt 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.

                                  - end text -

                                        2