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LENGTHENING OF THE CRUISE VESSEL MV BRAEMAR

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Fred. Olsen Cruise Lines Pte. Ltd. which is 50%
owned by each of Ganger Rolf ASA and Bonheur ASA,
has entered into a contract with the German ship
yard Blohm + Voss Repair GmbH, Hamburg for the
lengthening of the cruise vessel MV Braemar by
31.2
meters in May and June 2008.
The total cost of this upgrade project, including
work undertaken by the yard and by other parties,
is estimated to about EUR 60 million.
For further information see: www.newsweb.noFred. Olsen Cruise Lines Pte. Ltd. which is 50%
owned by each of Ganger Rolf ASA and Bonheur ASA,
has entered into a contract with the German ship
yard Blohm + Voss Repair GmbH, Hamburg for the
lengthening of the cruise vessel MV Braemar by
31.2
meters in May and June 2008. In addition the
vessel
will have further balconies added, an increase in
the number of suites available and an upgrade to
the public rooms. This work will increase the
number of lower berths from 727 to 977, an
increase
of 250. The total cost of this upgrade project,
including work undertaken by the yard and by other
parties, is estimated to about EUR 60 million.

This investment underlines Fred. Olsen Cruise
Lines` ongoing commitment to the UK cruise market,
and comes on top of the previous announcement
concerning the lengthening and refurbishment of
the
MV Balmoral (currently trading as Norwegian Crown).

For further information please contact Mike
Rodwell, Managing Director, Fred. Olsen Cruise
Lines Limited, on +44 1473 292250.

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