Stolt-Nielsen S.A.                                             [GRAPHIC OMITTED]

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 14,250 OF ITS COMMON SHARES

London, England - November 23, 2006 - Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo
Bors: SNI) announces that Stolt-Nielsen Transportation Group Ltd. (SNTG), a 100%
owned subsidiary of SNSA, purchased today 14,250 of SNSA Common Shares on the
Oslo Bors at an average price of NOK 192.89 per share (approximately $29.90 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 Bors 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 Bors with primary listing (through ADS arrangements) in the
United States:

Total number of Common Shares purchased: 14,250
Total number of Common Shares owned after purchase: 6,432,900
Percentage of issued shares of such class of shares following such purchase:
9.7%

Including today's purchases, the Company has purchased Common Shares totaling
approximately $187.1 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 Bors, 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
U.K. 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.

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
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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.