BROSTRÖM PREDICTS IMPROVED MARKET CONDITIONS

BROSTRÖM PREDICTS IMPROVED MARKET CONDITIONS The latest agreement about increased oil production quotas within OPEC and the need for building up global oil stocks will increase the demand for transportation of oil products. This is stated by Broström's Managing Director Lennart Simonsson in the company's annual report for 1999, presented today. In the Managing Director's statement Mr Lennart Simonsson also comments on the debate that has followed the accident off the coast of France at the end of last year, when the 25-year-old vessel Erika sank in bad weather. More and more interested parties, especially the large oil companies, have announced stricter rules for quality, safety and environment. According to Mr Simonsson Broström has every reason to welcome this development which proves that the company's focus on quality and safety is correct. Broström announced already in its preliminary report the intensified implementation of an action program aiming at increased revenues and reduced cost. The program includes co-ordination of European marketing and procurement synergies and improved cash management. The results from the action program together with expected improved market conditions will according to Lennart Simonsson have a positive effect on Broström's profits already this year. Göteborg 18 April 2000 BROSTRÖM VAN OMMEREN SHIPPING AB (publ) Broström Van Ommeren Shipping is one of the leading logistics providers for the oil and chemical industry, with a focus on industrial tanker shipping and marine services. The group has 1,150 employees and net sales of SEK 2 billion. More information about Broström can be found on www.brostrom.se. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/08/20040108BIT00840/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/08/20040108BIT00840/wkr0002.pdf