BROSTRÖM AND RIGEL SCHIFFAHRTS EXTEND THEIR CO-OPERATION

BROSTRÖM AND RIGEL SCHIFFAHRTS EXTEND THEIR CO-OPERATION · Broström's commercial fleet will increase by four product tankers A further step in the ongoing consolidation of the product tanker shipping market Broström and Rigel have agreed to take a further step in the co- operation between the two companies. Broström will become the commercial manager of four additional 22,000 dwt vessels, MT WOLGASTERN, MT WEICHSELSTERN, MT RHONESTERN and MT THEMSESTERN, including the subletting of one current agreement. The vessels will be transferred successively within the next few weeks. In September 2000 Broström AB, Sweden, and Rigel Schiffahrts GmbH, Bremen, Germany, entered into an alliance agreement whereby Broström (Broström Tankers) became the commercial manager for Rigel's fleet of six vessels of 17,000 dwt each. The co-operation has turned out well and the alliance is therefore now extended and covers a total fleet of ten vessels. "The latest vessels are built 19992000. They are very well equipped, of advanced environ-mental standards, with the highest ice class and suit perfectly into our commercial fleet", says Lennart Simonsson, CEO of Broström. "In Rigel we have found a good partner who shares our views on offering high quality logistical solutions for the oil and chemical industry." "By combining the fleets we are both contributing to the ongoing consolidation process in such a way that we can offer our customers modern and even more flexible solutions", says Helfried Beutner, CEO of Rigel Schiffahrts. The combined fleet of vessels in this size, commercially managed by Broström, will increase to 22 vessels and the alliance will further strengthen Broström's and Rigel's position in serving the oil and chemical industry. Göteborg 1 June 2001 BROSTRÖM AB (publ) For further information: Lennart Simonsson, CEO Broström, tel +46 31 61 61 00 Helfried Beutner, CEO Rigel, tel +49 421 17 39 90 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/2004/01/08/20040108BIT00560/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/08/20040108BIT00560/wkr0002.pdf