NTA expands its fleet

NTA expands its fleet N&T Argonaut has purchased the tanker M/T North Pacific for about USD 20 million. The vessel is a 107,000 dwt Aframax, built in 1986 at the Samsung shipyard in South Korea. It has a double bottom and is a sister vessel of the M/T Nord Baltic and the M/T Nord Ocean, which are already in the NTA fleet. The North Pacific is time-chartered to the Finnish-owned oil group Neste until the end of the year 2001. The time-charter contract returns a substantial surplus. Stockholm, December 9, 1998 N&T ARGONAUT AB (publ) For any further information, please contact: Anders Berg, President and CEO, telephone +46-8-613 19 00. N&T Argonaut AB (publ) Street address: Skeppsbron 34 Mailing address: Box 1215, SE-111 82 Stockholm, Sweden Telephone: +46 8 613 19 00. Fax: +46 8 21 31 37 Swedish corporate identity number: 55 62 26-6477 www.nt.argonaut.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/09/19981209BIT00290/bit0001.doc http://www.bit.se/bitonline/1998/12/09/19981209BIT00290/bit0002.pdf