Press release

Statement in connection with Svenska Orient Linien Intressenter AB's offer to the shareholders of Svenska Orient Linien AB (publ) In a press release today, Svenska Orient Linien Intressenter has made an offer to the shareholders of Svenska Orient Linien (SOL) to purchase all the shares in SOL at a price of SEK 7 per share. Accordingly, two independent members of SOL's board of directors, Peter Weitemeyer and Kent Flodberg, ordered and received an independent valuation, a so-called "Fairness Opinion", from Ernst & Young AB on which to base their assessment of the offer. SOL needs larger cargo volumes and collaboration with other operators in order to be able to offer competitive and cost-effective transportation between the Nordic countries and the Mediterranean. Such collaboration should be possible as a result of this offer as two of the principal owners Svenska Orient Linien Intressenter, Navalmar Transportes Maritimios and Imperial Shipping, operate services between the Nordic countries and the Mediterranean. In the light of this and with the support of Ernst & Young's valuation, the independent board members declare that they are in favour of the offer and recommend that it be accepted by the SOL's shareholders. Gothenburg, 25 March, 2003 Svenska Orient Linien AB (publ) Board of Directors 1) For further information, please contact: Kent Flodberg, President and Board Member, Phone +46 31 354 40 00 Peter Weitemeyer, Board Member, Phone +45 35 436 200 Refers to the independent board members Peter Weitemeyer and Kent Flodberg. Board members Michael Kjellberg, Enrico Bogazzi and Martin Bjäringer have not been involved in questions concerning the offer or this press release. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/25/20030325BIT00210/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/25/20030325BIT00210/wkr0002.pdf

Subscribe